Wednesday, March 31, 2010

Socialcast Secures $8 Million in Series B Funding From Menlo Ventures and True Ventures

Socialcast, the pioneer of activity streams for real-time enterprise collaboration, today announced it has secured $8 million in Series B funding from Menlo Ventures and True Ventures. The company plans to apply the new capital to continued innovation in its enterprise collaboration and activity stream platform, Socialcast Ease™ (enterprise activity stream engine), as well as infrastructure investments to support its rapid business growth, including acquisition of top engineering talent and scaling of its marketing, sales and customer deployment teams.

Socialcast, the pioneer of activity streams for real-time enterprise collaboration, puts an entire company's brain to work with Socialcast Ease™, the real-time enterprise activity stream engine. Behind the firewall or in the cloud, Socialcast's software enables instant collaboration in a secure environment to unite people, processes, and data across the enterprise.

"Socialcast's momentum in the enterprise collaboration space and visionary roadmap for the implementation of activity streams both impressed and prompted us to pursue an investment," said Sonja Hoel Perkins, Managing Director at Menlo Ventures. "As one of the first companies to recognize that activity streams are the next step in the evolution of collaboration and communication within the enterprise, Socialcast is in the driver's seat. The company is poised to redefine both the social computing and enterprise software categories. We are proud to be joining them in this pivotal growth phase."

1 comment:

Anonymous said...

Excellent post, enterprise web 2.0 and social collaboration are becoming more and more mainstream and startups operating in this space are poised to grow.

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