June 10, 2008
All Web Leads Snaps Up First Funding Round
VentureWireWeb marketing company All Web Leads Inc. has raised an undisclosed amount of capital in its first outside funding round.
SSM Partners led the round, which included C&B Capital and Dillon Joyce. The valuation of the round, which closed June 3, was not disclosed.
Austin, Texas-based All Web Leads works to acquire data and sell it to insurance agents and partners selling insurance policies to consumers, including policies for health, automobile, life, home, long-term care, disability and annuities. The company also has a Web site to enable consumers to shop for insurance policies at www.usinsuranceonline.com.
All Web Leads was profitable since it was founded in 2005, Chief Financial Officer Michael Lafair said, and has had at least 100% revenue growth every year since that time. The company has not disclosed how this round, which it said was "in the millions," will be used.
"At this time we don't see a need for a further round of funding, except for perhaps strategic acquisitions," Lafair said. "We are otherwise confident the company will continue at its rapid rate of growth."
All Web Leads has added SSM Partners' Partner Robert Covington and Dillon Joyce's Tom Hedrick to its board with the funding.