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Get Real
Funding


August 25, 2004

Socialtext Series A FinancingEmail This EntryPrint This Article

Socialtext raises a series A round as Ross explains, with existing investors (Joi Ito, Reid Hoffman, Mark Pincus and Freedom Technology Ventures) -- and new investors (Jun Makihara and Omidyar Network):

This is a major milestone for Socialtext, positioning us to build upon our market leadership and fulfill a mission we began in 2002. When Pete, Adina, Ed and I founded Socialtext we saw an opportunity to build a great company that did great things for its customers as well as society. The epiphany was that this could be done with simple easy to use tools and we could foster a way of working openly that builds trust between users.

It's particularly interesting that Ross says he met Pierre Omidyar through blogging, rather than the traditional VC meet-and-greet route.

May 19, 2004

IMlogic Raises $16M in VC FundingEmail This EntryPrint This Article

Surprising me not one bit, IMlogic has announced that the company has raised an additional $16M in venture funding (see Boston Business Journal). This is (I believe) the third round of money in IMlogic.

Francis Desouza, the CEO, is one of the more visionary leaders in the IM Management market -- companies that are providing the infrastructure for enterprise management of instant messaging and related real-time collaboraiton technologies. I expect great things from IMlogic, over and above the company's existing product lines and already announced plans.

The company posted 300 percent growth in revenue in fiscal 2003, the partnership with Reuters (gateway between Microsoft Live Communication Server and the AOL and MSN public IM networks), and international expansion.

March 01, 2004

FaceTime Receives New Round Of FundingEmail This EntryPrint This Article

FaceTime Communications announced today that the instant messaging management software company had received an additional round of venture funding of $6.5M. Investors in this round had all participated in earlier rounds: BA Venture Partners, Sutter Hill Ventures and TH Lee Putnam Ventures. Altogether, $14.5 million has been invested in the company since July 2001.

Kailash Ambwani joined the company as CEO only a few weeks ago (see earlier story). You have to presume that the funding was teed up and ready to go prior to his accepting the job, and that his coming aboard as CEO, replacing Vondrick, may have been a condition of raising the new round.