Social media software and services like Facebook and Twitter have seen phenomenal growth. Just this week, Facebook announced it now has over 500 million users. But while consumers have led the social media charge, a number of companies have brought out enterprise-friendly solutions developed with the needs of business users in mind.
eCRM Guide reports that one such company, Jive Software, just racked up a significant round of investment from two venture capital firms that strongly believe in the potential of social media software to add business value with collaborative and community features.
Anyone wondering how much potential the market for social CRM has should look no further than the $30 million investment in Jive Software from two of the top venture capital firms.
The third round of funding was led by Kleiner Perkins Caufield & Byers, with continued participation from Sequoia Capital, the only venture investor in Jive until now. It is the largest joint investment by the two VC firms since they put $25 million into Google (NASDAQ: GOOG) in 1999.
Read the full story at eCRM Guide:
Jive Software Rakes in $30 Million for Social CRM