Backers included Atlas Ventures, Ludlow Ventures, and Promus Ventures. The company also leveraged AngelList’s Syndicate service.
The company intends to use the funds to build the team (read here) to continue to develop the product.
Co-founded by Eric Bieller, Tom Moor and Matt Boyd, Sqwiggle provides an online workplace for remote teams to work together. It allows users to see and hear other team members and share docs. A particular feature of the solution is that it tries to minimizes bandwidth consumption by taking still images every 10 seconds with interactions lasting 2 minutes on average (compared to 27 minutes for Skype)
Users can create multiple workrooms and use the app to share docs such as photos, videos, files and code.