Yammer Raises $5 Million Series A
Yammer is an instant messaging tool that promotes short frequent answers to questions within companies. Yammer serves as a central location for co-workers to exchange ideas, post news, share links, ask questions, etc. Anyone in a company can start a Yammer network and invite other colleagues. The company was founded by David Sacks and won the top-prize at the TechCrunch50 conference.
Yammer spun off from Geni.com, another company that Sacks founded. Geni.com raised $5 million in Series C earlier this week. The companies involved with Yammer’s $5 million Series A investment were Founders Fund and Charles River Ventures. The Founders Fund are a group of investors where many partners are formerly of PayPal. David Sacks was COO of PayPal at one point.
What puts Yammer at risk is Twitter’s ability to launch a groups feature. If Twitter creates an enterprise version of their service, they could take on Yammer head-on.
[via TechCrunch]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry