Yammer, a San Francisco, CA-based provider of enterprise social networks, has raised $17m in its fourth round of funding.
The round was led by the Social+Capital Partnership, with participation from existing investors Charles River Ventures, Emergence Capital and U.S. Venture Partners.
This financing brings the total amount raised by the company to date to $57m (read related news).
The company intends to use the funds to scale operations across its offices in San Francisco, London and Melbourne. Yammer is hiring sales, engineering and customer support staff.
Founded by CEO David Sacks, the company provides Software-as-a-Service (SaaS) solution for employees to communicate, collaborate, and share information (read here).
The basic version is free and customers can upgrade their network to receive additional administrative and security controls, priority customer service and a dedicated customer success manager. Yammer has been adopted by over 100,000 businesses in 160 countries in less than three years.
The Social+Capital Partnership is a new fund established by former Facebook Vice President Chamath Palihapitiya, who will have an observer’s seat on Yammer’s board of directors.
FinSMEs
27/09/2011
Related News
30/11/2010: Yammer Raises $25M in Third Funding Round (read here)
03/02/2010: San Francisco-Based Yammer Raises $10M in Series B Funding Round (read here)