Yammer announced that it has raised a monster $85 million funding round.
It looks like Yammer has taken its last venture money before becoming a public company, though the chief executive officer of the social network for businesses says he plans to keep things private for awhile.
The 3-year-old company that has gained traction: The social network for businesses announced today that it has raised a monster $85 million funding round, its second infusion of capital since September 2011. The round brings to $142 million the amount raised by the San Francisco company founded by CEO David Sacks and Adam Pisoni, Yammer’s chief technology officer.
Sacks told Portfolio.com that this round would likely be the last venture money raised by the company.
“Probably, I think it’s likely the last round of funding we’ll take before an IPO,” Sacks said, adding that he’s not rushing to register with the SEC to sell stocks publicly.
“We see being a private company as an advantage. I’m not sure we have plans to change anytime soon,” he said. “This round of funding is pretty comparable to an IPO.”
He said remaining private actually helped in recruiting top talent and allows him, his board, and management team to run Yammer as they see fit.
But the money from today’s investment will come in handy as Yammer takes on Jive, now a public company, and a host of other competitors that have been emerging since Yammer pioneered the adoption of enterprise social-media software beginning four years ago.
“It’s helpful to have a war chest when you’re fighting a war,” Sacks said. “We want to have more talented people than anybody else. There’s a lot of people trying to catch up.”
Founder and CEO
Upstart: Business and Management for 20-40 Year Old Professionals
Filed Under: Gamechangers
About the Author:
Leave a Reply
You must be logged in to post a comment.