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Angie's List snags $22.5 million investment

IBJ Staff
September 20, 2010
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Angie’s List said Monday that it has closed on a $22.5 million round of financing from several investors, a few of which contributed to the company for the first time.

The Indianapolis-based consumer review and rating service said it will use the investment to expand its health and wellness consumer review product, as well as its coupon program, “The Big Deal.”

Milwaukee-based Wasatch Funds was among the new investors.

“It is a significant milestone for us to attract investments from public funds managers like Wasatch,” Angie's List CEO Bill Oesterle said in a written statement. “They provide a new and valuable perspective for the coming stages of growth.”

Boston-based Battery Ventures also participated in the latest round. It contributed a $35 million investment to Angie’s List in 2008.

Angie’s List started making medical price information available to members on its website in late August.

Its group coupons are marketed in more than 30 cities. The company expects to expand to more than 50 markets by the end of the year.
 

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