San Francisco, CA (PRWEB) February 3, 2010
Yammer, Inc., the leader in Enterprise Microblogging and Real-time Communications, today announced that it has received $10 million in its Series B round of funding. Emergence Capital leads the round; with general partner Jason Green joining Yammer’s Board of Directors. SV Angel, led by seasoned Silicon Valley investor, Ron Conway, is also participating as are previous investors, including Charles River Ventures and Goldcrest Investments from Dallas.
Yammer launched its solution in September 2008 and has experienced rapid user growth with over 60,000 organizations globally having adopted the solution. Drawing on this momentum, Yammer will use the proceeds to accelerate product innovation and increase sales coverage.
“Yammer is revolutionizing the way employees communicate and collaborate, filling a need that email has failed to deliver,” said Jason Green, general partner at Emergence Capital. “Yammer has a passionate and proven executive team, a compelling freemium business model, a loyal customer base and a huge market opportunity. We are thrilled to be joining them in the next phase of their rapid growth.”
Companies and organizations of all sizes across a wide range of industries benefit from Yammer. They use Yammer for a multitude of reasons, including improving workforce productivity, connecting a geographically dispersed team, getting new employees up to speed, and increasing the flow of content and knowledge.
“Yammer is focused on improving the way employees communicate and stay connected to critical information about their company and job,” said David Sacks, founder and CEO at Yammer. “We’re pleased with the rapid growth and market adoption we’ve achieved and are poised to accelerate it with exciting enhancements to our product and with broadened sales coverage. We’re eager to work with Emergence Capital and leverage their expertise in building world-class Software-as-a-Service (SaaS) companies and are gratified that proven technology investors such as SV Angel and Charles River Ventures are also participating in the funding.”
About Yammer, Inc.
Yammer (http://www.yammer.com) is the market and technology leader in Enterprise Microblogging and Real-time Communications. By enabling crisp and frequent updates to be posted by employees, Yammer is revolutionizing the way companies communicate, collaborate, and share content. As information is posted, a feed is created in one central location enabling co-workers to discuss ideas, post news, ask questions, and share links and other information. Over 60,000 companies and organizations are using our award-winning Software-as-a-Service (SaaS) solution to improve employee productivity and financial results.
About Emergence Capital Partners
Emergence Capital Partners is the leading venture capital firm focused on cloud-based business and consumer services companies. In 2002, Emergence Capital was the first to recognize the power and potential of SaaS to disrupt the technology industry and invested in some of the most successful companies including Salesforce.com and SuccessFactors. Their mission is to help build market leading companies in true partnership with forward thinking entrepreneurs. Today the firm has over $325 million under management from premiere institutional investors. For more information, visit http://www.emcap.com.
Dee Anna McPherson