Logoworks a company with a pretty interesting value proposition has received a very respectable round of $ 9.5 million from Benchmark Capital and Shasta Ventures Lead Investment.

"LogoWorks is the world's largest and fastest-growing provider of logo design services to small businesses. The company solves a simple problem -- small businesses don't have good options for getting a well-designed logo or other graphic design services at an affordable price. The company pioneered a new, disruptive model of design that leverages a team of designers on each project in order to create more variety and choice for the customer.

LogoWorks also announced that Bob Kagle, general partner of Benchmark Capital, and Tod Francis, managing director of Shasta Ventures, have joined its 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 consumer-oriented investments, including BabyCenter, Blue Nile, FatBrain, Next Card and WeddingChannel.com."

Good logo work can be done pretty much everywhere - elance.com would have been my first choice for a rock bottom pricing for a logo. However it seems logoworks has thriven on great execution within this niche.