Tributes.com Adds $1.2M in Second Round, Totals $5.4M
Tributes.com™ Adds $1.2M in Second Round, Totals $5.4M
National Online Obituary Classifieds Platform Gains Strong Growth in Channel Development, Media Partnerships and Consumer Reach
BOSTON, Mass -- July 13, 2009 — Tributes, Inc. today announced that is has closed a second round of funding adding another $1.2 million to its first round, bringing the total amount of capital raised to $5.4 million, by a strategic group of both existing and new investors representing both funeral service and the Boston tech community. The financing will provide ongoing support in the further development of Tributes.com into the leading national online destination for timely obituary news and lasting tributes celebrating loved ones’ lives.
Within its first nine months,
Tributes has established important relationships in both funeral service and
broadcast media which are driving revenue growth and contributing to the solid
development of the Tributes.com brand and the Tributes Network, which eclipsed 300K
monthly unique visitors in June and is growing rapidly. Additionally, Tributes has forged key
partnerships with prominent businesses across the funeral industry such as Forethought
Financial Group, a leading insurance provider, Stewart Enterprises, the second
largest provider of products and services in the death care industry, FuneralNet, the original and largest
provider of custom funeral home websites since 1996, and MKJ Marketing, the
death care industry’s marketing leader.
Such arrangements allow Tributes to leverage its Internet platform to greatly
enhance obituary offerings, while developing new revenue streams for both
Tributes and its partner base.
Media companies such as Raycom
Media, CBS Television Stations Group, and CBC (Capital Broadcasting Company)
New Media Group are some of the first to establish new obituary sections on
their television station websites, powered by Tributes.com. The unique capabilities which Tributes brings
to the table, allow broadcast media to effectively compete with the newspapers
in their markets, transitioning printed obituaries to multimedia experiences.
"The Tributes team has done a tremendous job in laying a solid foundation for what is destined to be a major national platform for life-celebrating tributes versus the more traditional obituary classifieds consumers are now shifting away from,” said Jeff Taylor, Founder and Chairman of Tributes. “The Tributes business is gaining traction in all of the right ways providing a clear indication that both funeral homes and consumers are interested in more effective ways to communicate obituary and service information and to memorialize loved ones.”
directors across the country are rapidly recognizing that, with the collapse of
many newspapers and the power of the Internet, the ability to provide online
obituaries and tributes both on our websites and on Tributes.com, is an important
offering our families want, as it ensures that obituary news is effectively
communicated locally, nationally and sometimes even internationally,” said
local funeral home owner David J. Solimine, Jr. of Solimine, Landergan and
Richardson Funeral Homes in Lynn, MA. “Tributes is highly focused on building
relationships with funeral homes which allow them to generate revenue and
promote their businesses while offering high quality, cost-effective products that
families truly appreciate – a win-win combination.”
“The ongoing support of our existing investors and our ability to attract new investors in such a challenging economy is a testament to the value that has been built in the Tributes business in a short period of time and the opportunity which lies ahead as we continue to execute our strategy,” said Elaine Haney, President of Tributes, “With strong momentum across the various metrics we use to measure the success of our business, we are pleased to have the new capital to support our growth goals.”
Tributes.com is the online resource for current local and national obituary news, lasting personal tributes and online community providing support during times of loss and grieving. Through one centralized national web destination, with over 86 million current and historical death records dating back to the 1930’s, Tributes has made obituary and online memorial service information easily accessible so people can come together online and offline to remember and share the treasured stories of the important people in their lives who have passed away. Monster.com founder Jeff Taylor officially launched Tributes.com in February, 2008. For more information about Tributes.com, please visit our website at www.tributes.com.
Colleen DeVine (For Tributes.com)
Garfield Group Public Relations
(215) 867-8600 x269