Yesterday we introduced you to Cambridge based Comparz.com, which just launched aiming to be the Yelp for business services like email marketing software and cloud backup providers. In it we profiled how currently no service exists for reviews of this type of information, with the exception of one startup that was acquired by LinkedIn last fall (their site has since been taken down, and their founder left LinkedIn just two months after the acquisition).

However, today we learned about another startup cornering the very same space: NYC-based BestVendor. TechCrunch just reported that this startup, which was founded in January 2011, has raised $600K in seed funding from PayPal legend Peter Thiel, Lerer Ventures, SV Angel and SoftBank Capital.

BestVendor aims to help SMBs make smarter, faster and ultimately better decisions through what they describe as “social recommendations.” Users share and rate products they have used, and in exchange, they access all other reviews and profiles on the site for free. This strategy will certainly help onboard and scale an initial set of users. The company states,

“Our vision is to become the first place you go whenever you need to figure out what to buy for your business, much like Amazon is for books and Yelp is for restaurants.”

Peter Thiel is known for challenging entrepreneurs to ‘think bigger,’ and no doubt his inclusion in the seed round is a signal to follow this startup.

BestVendor is currently in private beta, which you can apply for an invite to. To learn more about the company and its team, head right on over to the BestVendor blog.