Jive’s Social Business Software gets another $12M from Sequoia
Jive Software, which uses social networking to help businesses collaborate internally and externally, has raised another $12 million from Sequoia Capital.
Portland, Ore.-based Jive’s products include sites where employees can collaborate, customer discussion forums, and company social networks. Despite being part of the flood of companies offering business social networking tools, Jive seems to have done well. The company says its revenue doubled in the third quarter of 2009 compared to the same period last year and that it’s profitable.
Sequoia also provided Jive’s $15 million first round of funding. Here’s how chief executive Dave Hersh says he’s going to use the cash:
- It’s about innovation. We are going to continue to expand the Jive SBS product footprint by dramatically increasing our R&D efforts. We’re doing a lot more hiring! In just the last month, we have added 11 new Jivers with 10 more starting in the next two weeks. If you’re interested, take a look at our open jobs. We’re also going to be pursuing smart acquisitions that complement our portfolio.
- It’s about customers. We will build out our customer-facing teams to further support the success of our clients and to grow the company.
- It’s about partners. We have seen some great success with channel partners and we will be building out that ecosystem to get Jive onto the desktops and mobile devices of more customers. And we’ll continue to improve the “partner-friendly” aspects of our application to allow for deep yet hassle-free customization and integration.
- It’s about championing SBS. Jive has built a great community around SBS in the last few years, and we want to continue to spread that gospel. I’m happy when I see new customers say, “I never knew I could do that!” But I’m even happier when I hear them say, “This has changed how I work, and I want more.”
Next Story: Updated: Benchmark Capital gets a “new” entrepreneur-in-residence: Symantec’s Michael Wolfe
Previous Story: 5 O’Clock Roundup: VC dry spell, Sun layoffs, another doomed e-reader
About the Author, Anthony Ha
Anthony is VentureBeat's assistant editor, as well as its reporter on enterprise technology, cloud computing, and tech policy. Before joining VentureBeat in 2008, Anthony worked at the Hollister Free Lance, where he won awards from the California Newspaper Publishers Association for breaking news coverage and writing. He attended Stanford University and now lives in San Francisco. Reach him at anthony@venturebeat.com. You can also follow Anthony on Twitter.