LogoWorks secures $9.3 million in financing

LogoWorks, a Lindon-based provider of custom graphic design services for small businesses, has received a $9.3 million round of equity funding in a round co-led by Benchmark Capital and Shasta Ventures.

Bob Kagle, general partner of Benchmark Capital, and Tod Francis, managing director of Shasta Ventures, have joined LogoWorks' board of directors. Kagle is best known as the lead venture investor in eBay. Kagle's other investments include AllPosters.com, Art.com, eBags, Friendster, Jamba Juice and zipRealty. Francis has also invested in several consumeroriented companies, including BabyCenter, Blue Nile, FatBrain, Next Card and WeddingChannel.com.

LogoWorks has grown quickly since its inception in 2001 and was profitable prior to the financing.

"LogoWorks uses the power of a distributed community of graphics designers to deliver a superior design service at an astounding price point," said Kagle. "Their value proposition is compelling and will make quality design truly affordable. They are pioneers in the emerging field of Internet delivered professional services."

LogoWorks is the largest and fastest-growing provider of logo design services in the world. The company pioneered a model of design that leverages a team of professional graphic designers on each logo project in order to create more variety and choice for the customer. LogoWorks uses the same model to provide business cards, stationery, Web sites, brochures and all other types of graphic design at a fraction of the cost of a traditional ad agency - $265 to $549.