Lithium Technologies Raises $50 Million

Posted Sep 3, 2013

Lithium Technologies has raised a $50 million round of mezzanine financing led by global institutional investors.  This round of funding will help the company grow as they consider the right timing for an IPO.  Some of Lithium’s customers include Skype, eBay, Barclays, and Commonwealth Bank.

Former Yahoo! executive Tapan Bhat has joined Lithium as Senior Vice President and Chief Product Officer recently as well.  New Enterprise Associates venture partner Brooke Seawall has joined Lithium’s board of directors as audit committee chairman.

?It?s great to welcome a group of strong public equity buyers to our investor base,? stated Lithium President and Chief Executive Officer Rob Tarkoff. ?We have an enormous market opportunity, amazing customers, and stronger leadership and financial resources to build Lithium into a long-term, global company. We can grow aggressively without distraction while we consider the right timing for a public market offering.?

[Source: Lithium News]