This morning we announced that we closed $30 million in Series C financing. The investment was led by Kleiner Perkins Caulfield & Byers, with continued participation from Sequoia Capital, the only venture investor in Jive up until now.

 

The market reaction to our announcement has been tremendous. Here is what some of the leading publications and industry experts had to say:

 

  • “This morning, media outlets are abuzz with word that the Menlo Park, Calif., heavies have partaken in a $30 million round for a software company that - you guessed it - could be the next Google." – Russell Garland, WSJ Venture Capital Dispatch
  • “’We’re now at a tipping point where people are looking at social as something that ought to be mainstream in the enterprise,’ [Jim] Goetz, [General Partner, Sequoia] said in an interview.  ‘Jive is “right in the middle of a wonderful tailwind.’” – Ari Levy, Bloomberg
  • “Believed to be the largest joint investment that Kleiner Perkins and Sequoia Capital have made since they bestowed their Midas touch on Google more than a decade ago, the $30 million also represents for Jive additional muscle and credibility to slug it out with bigger and better-known companies—from Salesforce.com with its Chatter product, to SAP and others—looking to weave dynamic Web 2.0 features into the relatively stodgy world of enterprise software.” – Bob Evans, InformationWeek
  • “New Jive CEO Tony Zingale…said in an interview that the investment from Kleiner Perkins and Sequoia was a vote of confidence in Jive’s vision (Sequoia also participated in the company’s previous round of financing, which raised $15 million in 2007). The last time the two Sand Hill Road firms invested $30 million in a startup together, “it was a company called Google,” said Zingale. The Jive CEO said the company may use some of the financing round for acquisitions.” – Matthew Ingram, GigaOm
  • "’They're certainly the leader in the social business software space,’ said Michael Fauscette, software vice president for market research firm IDC.” – Mike Rogoway, The Oregonian
  • “Jive is in a solid position in the emerging social business software market and the new $ will help them drive visibility and awareness for the company and the social business market itself.” -- Mike Fauscette, IDC

 

This investment from the two Silicon Valley titans is a testament to our market leadership and our ability to execute.  We could not have achieved any of this without the support of our customers, partners, and the Jive team. I’d like to thank all of you for making us the number one leader in the social business market.