Blue Jeans Network Raises $50 Million
Blue Jeans Network is a video conference company that has raised $50 million in new funding led by Battery Ventures. This new round of funding puts Blue Jeans Network at a total of around nearly $100 million.
Founded in November 2009, Blue Jeans Network lets users talk to each other no matter what video service is used. For example, a Skype users can talk to a Google Hangout user.
“Along the way, Blue Jeans set a new standard for SaaS (software as a service) business models with exceptional revenue growth and retention rates that rivals companies like Salesforce and Workday at similar stages,” stated Battery Ventures’ general partner Roger Lee.
Blue Jeans Network was founded by former Cisco executive Krish Ramakrishnan and former Blue Coat Systems CTO Alagu Periyannan. Investors that also participated in this round include Accel Partners, Norwest Venture Partners, and New Enterprise Associates.
Customers at Blue Jeans Network includes Facebook, Foursquare, and Match.com.