Tuesday, October 20, 2009

Jive Raises $12M

Portland-based Jive, a developer of social networking software for businesses, said this morning that it has raised $12M in a Series B round of funding. The round came from Sequoia Capital, the firm's original backer. According to Jive, the new funding will go towards increasing its product footprint and for product development, as well as for sales and customer support. In a statement, the firm said the firm is profitable, and just saw its fourth straight quarter of record revenue growth. The new funding brings the company's total raised to around $27.0M. More information »