Yammer has received $25m in third-round funding, as the US-based business-based social network looks to expand to Europe and Australia. The latest round of funding, led by US Venture Partners, brings the San Francisco company’s total financing to $40 million. Yammer’s previous investors, including Emergence Capital, Charles River Ventures and Founders Fund, also contributed to […]
Yammer has received $25m in third-round funding, as the US-based business-based social network looks to expand to Europe and Australia. The latest round of funding, led by US Venture Partners, brings the San Francisco company’s total financing to $40 million.
Yammer’s previous investors, including Emergence Capital, Charles River Ventures and Founders Fund, also contributed to the latest round. Founded in 2008, Yammer started off as a micro-blogging site for corporate employees. In September, the company redesigned its service to become a full-fledged social network. Yammer today has more than 90,000 companies in 136 countries using its service, including more than 80% of the Fortune 500.
02/12/2010
In July, the company announced that it had reached more than 1 million corporate users, and currently has more than 1.5 million.
Yammer plans to use the new funding to scale its operations triple its engineering team and significantly increase its sales operation.
The money will also be used to open offices in Europe and Australia.
“The consumerization of the enterprise is happening in a big way and Yammer sits right in the middle of this major trend,” Mamoon Hamid, principal at U.S. Venture Partners, said in a statement.
www.yammer.com
