Socialgamesobserver

The Latest News on the Social Games Market in Europe and Emerging Markets

1Dec/10

Yammer Raises $25 Million

By Gary Merrett

Enterprise Social Networking platform Yammer, today announced that it has received $25 million in its third round of funding, bringing its total financing to $40 million. U.S. Venture Partners led the round with previous investors Emergence Capital, Charles River Ventures and Founders Fund also participating. U.S. Venture Partners Principal Mamoon Hamid will join Yammer’s board of directors. Yammer has experienced strong growth since launching in September 2008. The company now has more than 1.5 million verified corporate users, including employees at more than 80 percent of the Fortune 500.

The new funding is intended to help the company capitalize on this momentum by rapidly scaling its operations. Yammer plans to triple the size of its engineering team and significantly grow its sales organization. In addition, with Yammer now in use in 136 countries, the company will open offices in Europe and Australia in response to global demand.  “This financing recognizes our leadership and positions us to accelerate the execution of our ambitious product roadmap and global expansion plans.” said Yammer CEO David Sacks.