Yammer Raises $85 Million In Funding

Social ERM (employee relationship management) software provider Yammer have raised another $85 Million from investors.  This comes after a round of $17 million and shows that the company is planning to continue it’s aggressive growth and platform improvement strategy.

The money will specifically be used to hire more sales and engineering staff members and also improve advertising.  It wouldn’t be a stretch to see Yammer using the money to acquire other, smaller start-ups in the space as well.

After tripling sales growth in 2011 the company has acquired a net total of 4 million users of their social networking service.  The software is best described as Facebook for your company.  Every employee has a profile and wall, and users are able to exchange ideas and stalk each other just like on Facebook.  The home news feed is extremely useful in Yammer, and you can see what your colleagues are up to at a glance.

Yammer’s not alone, though.  The space is heating up, and public company and competitor Jive recently announced their revenues had surged by 53% over the last quarter.

For a complete guide to Yammer, click here.

Publish date: March 2, 2012 https://stage.adweek.com/digital/yammer-raises-85-million-in-funding/ © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT