Jive Closes $30 Million Investment from Kleiner Perkins Caufield & Byers and Sequoia Capital

PALO ALTO, Calif., July 21 /PRNewswire/ -- Jive Software, the social business software leader, announced that it has closed $30 million in Series C financing. Kleiner Perkins Caufield & Byers (KPCB) led the investment, with continued participation from Sequoia Capital, the only venture investor in Jive up until now.

The capital will be used to accelerate Jive's technology innovation and further drive the company's leadership in the social business market. Ted Schlein, Managing Partner at KPCB, will join Jive's Board of Directors.

"Social Business is the most important enterprise software category in a decade," said Ted Schlein. "Jive is the clear market leader, with a strong customer base, best-in-class technology and a deep management team. Jive is poised to become the next great enterprise software company."

"We are thrilled to have Ted join the Jive team," said Jim Goetz, General Partner, Sequoia Capital. "Ted has a demonstrated track record of building market leading companies, both as a former senior executive at Symantec and investor at KPCB."

"We are honored to welcome KPCB to Jive, and to receive Sequoia's unwavering commitment," said Tony Zingale, Jive's CEO. "KPCB and Sequoia are unparalleled at building great companies. We are privileged to have them both on our team."

Jive helps companies like Charles Schwab, Intel, Nike, and VMware adopt social business to create breakthroughs in competitive advantage, profitability and growth. Jive SBS combines the power of community software, collaboration software, social networking software, and social media monitoring offerings into an integrated social platform. The SBS market is projected to grow in excess of 25 percent per year and will reach nearly $5 billion by 2013.

Jive has been positioned as a Leader in three Gartner Magic Quadrants, including the "Magic Quadrant for Externally Focused Social Software, 2010," (1) the "Magic Quadrant for Social CRM, 2010" (2) and the "Magic Quadrant for Social Software in the Workplace, 2009" (3).

(1) Gartner. Inc. "Magic Quadrant for Externally Facing Social Software" by Jeffrey Mann et al., Jul. 5, 2010

(2) Gartner, Inc. "Magic Quadrant for Social CRM" by Adam Sarner et al., Jun. 29, 2010

(3) Gartner, Inc. "Magic Quadrant for Social Software in the Workplace" by Nikos Drakos et al., Oct. 22, 2009

About Jive – The New Way to Business

Jive is the largest and fastest-growing independent Social Business Software company in the world. For more information, visit www.jivesoftware.com.  

About Kleiner Perkins Caufield & Byers

Since its founding in 1972, Kleiner Perkins Caufield & Byers has backed entrepreneurs in over 600 ventures, including AOL, Amazon.com, Citrix, Compaq Computer, Electronic Arts, Genentech, Genomic Health, Google, Intuit, Juniper Networks, Netscape, Lotus, Sun Microsystems, Symantec, Verisign and Xilinx. KPCB portfolio companies employ more than 250,000 people. More than 150 of the firm's portfolio companies have gone public. Many other ventures have achieved success through mergers and acquisitions. The firm has offices in Menlo Park, California; Beijing, China; and Shanghai, China. For additional information visit www.kpcb.com.

About Sequoia Capital

Sequoia Capital provides venture capital funding to founders of startups who want to turn business ideas into enduring companies. As the "Entrepreneurs Behind the Entrepreneurs", Sequoia Capital's Partners have worked with innovators such as Steve Jobs of Apple Computer, Larry Ellison of Oracle, Bob Swanson of Linear Technology, Sandy Lerner and Len Bozack of Cisco Systems, Dan Warmenhoven of NetApp, Jerry Yang and David Filo of Yahoo!, Jen-Hsun Huang of NVIDIA, Michael Marks of Flextronics, Larry Page and Sergey Brin of Google, Chad Hurley and Steve Chen of YouTube, Dominic Orr and Keerti Melkote of Aruba Wireless Networks, Jonathan Kaplan of Pure Digital, Tony Hsieh and Alfred Lin of Zappos and Omar Hamoui of AdMob. To learn more about Sequoia Capital visit www.sequoiacap.com.

About the Magic Quadrant

The Magic Quadrants are copyrighted 2009, 2010 by Gartner, Inc. and are reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. 

SOURCE Jive Software