New York—AdHawk, a company that helps small- and medium-sized businesses expand their digital marketing presence, has announced a $13 million round of new funding. The Series B financing was led by Entrée Capital with participation from Table Management, Accomplice and others. To date, AdHawk has raised $17.7 million.
This fundraising effort comes on the heels of AdHawk’s acquisition of FloorForce, the largest digital marketing and website platform for the flooring industry. The acquisition, which was announced in January, was part of AdHawk’s larger effort to expand its presence in the $66 billion flooring space. Todd Saunders, CEO and co-founder of AdHawk, called this fundraising round a demonstration of their commitment to flooring and other home service categories.
“In the past year, our team has grown from a 30-person company to a 100-person company, all while remaining extremely capital efficient,” Saunders said. “We’ve seen significant growth in tandem with our recent acquisition of FloorForce, and this latest round of funding will enable us to continue to invest heavily in the flooring and home services sectors.”
Flooring is a multi-billion-dollar industry that is underserved by technology, Saunders explained. By allocating AdHawk’s resources to this industry, the company is helping thousands of small business owners compete with heavy hitters like Home Depot, Lowe’s and Lumber Liquidators. “It’s a game-changer for local businesses trying to win against the big-box stores,” he added.
In addition to leveraging the digital marketing services AdHawk and FloorForce already provide, the company recently launched flooringstores.com, a directory site that connects consumers who are shopping for flooring with specialty retailers in their geographic area. FlooringStores is currently live in Florida and will be rolling out across the country in the coming months.