Yammer Raises $25 Million In Funding
Yammer, the micro-blogging service for enterprises, has raised $25 million in funding. The funding was led by U.S. Venture Partners. Emergence Capital, Charles River Ventures, and the Founders Fund had participated in this round. Yammer’s total funding is at $40 million. U.S. Ventures’ Mamoon Hamid will join the Yammer board of directors.
Yammer has been dubbed as the “Twitter for businesses” and developed a platform for social networking within enterprises. Yammer added applications to their platform that increases the functionality of the service. Some of the applications include chat, polls, Q&As, etc. Yammer has about 1.5 million verified corporate users. They have seized 80% of the Fortune 500 to use their platform. Their revenue is doubling every year as well. Yammer plans to open offices in Australia and Europe.
Yammer has been expanding their executive team with the hiring of former director at Playdom David Stewart and former Clarium Capital managing director Mark Woolway. Stewart is now the Yammer VP of product management and Woolway is the VP of corporate affairs.@amitchowdhry or on Google+ at +AmitChowdhry