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Jive Gets VC $30 Million Infusion
Jive—a hot startup in a hotter tech sector, social business software—has landed $30 million in a third round of funding from Sequoia Capital and Kleiner Perkins Caufield & Byers.
Sequoia has previously been the only investor in the firm, which mashes up community software, collaboration software, social networking software and monitoring of social media like Facebook to sell companies an integrated social platform.
Jive includes companies such as Charles Schwab, Intel and Nike among those it works with.
It’s a market that’s expected to grow more than 25 percent a year and reach nearly $5 billion by 2013.
The addition of Kleiner Perkins to the roster of investors brings with it the addition of Kleiner Perkins Managing Partner Ted Schlein to Jive’s board of directors.
“Social business is the most important enterprise software category in a decade,” Schlein said in a release issued this morning. “Jive is poised to become the next great enterprise software company.”
For more stories about venture capital, click here for a Portfolio.com special section.
Kent Bernhard Jr. is News Editor of Portfolio.com
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