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BtoB

Balihoo secures $5 million in new funding

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Boise, Idaho—Local marketing automation company Balihoo Inc. has gained $5 million in new venture funding in a deal underwritten by existing investors Highway 12 Ventures and OpenView Venture Partners.

Balihoo technology helps national brands increase revenue regionally with automation solutions. Current customers include insurer Geico, plumbing manufacturer Kohler Co. and optician services company Pearle Vision.

The company said it will use the new funding to expand its customer base of national insurance, manufacturing and healthcare clients, while also reaching into untapped market segments.

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