NEWS21 July 2010

Investors pump $30m into social business software firm Jive

Financials North America

US— Social business software developer Jive has received $30m in Series C funding from two private equity investment companies.

Jive said that the money will be used to help accelerate the development of its community and social network technology and software offerings and “further drive the company’s leadership in the social business market”.

Earlier this year Jive acquired social media monitoring technology firm Filtrbox with the aim of eventually adding the Filtrbox product to its SBS (social business software) platform.

The series C financing round was led by Kleiner Perkins Caulfield and Byers (KPCB), who was joined by existing investor Sequoia Capital.

As a result of the investment KPCB managing partner Ted Schlein will take a seat on Jive’s board. Schlein said: “Social Business is the most important enterprise software category in a decade. Jive is the clear market leader, with a strong customer base, best-in-class technology and a deep management team. Jive is poised to become the next great enterprise software company.”

Jive CEO Tony Zingale (pictured) added: “KPCB and Sequoia are unparallelled at building great companies. We are privileged to have them both on our team.”