Jive Raises $US 12M in Funding for Its Social Software Product

Jive (news, site) has had some serious money pumped into it over the years, and recently it's bagged another US$ 12 million to bring its social enterprise platform to the fore.

Jive in the Money

Jive's Social Business Software (SBS) has been in the news a fair bit recently. The latest Series B funding round from Sequoia Capital adds to the US$15 million contributed back in 2007 and will keep the vendor in the news a fair while longer. Things certainly seem to be on the up for Jive, even its Jiveworld Conference next week is sold out.

Yesterday, Jive was also placed as a leader in Gartner's Magic Quadrant for Social Software in the Workplace -- so good news all round. As it battles the likes of Socialtext to gain presence and market share among enterprise 2.0-minded companies around the world, Jive has added a range of features, including connectors for SharePoint content.

Jive on the Street

The new funding will be used to further develop SBS and expand its range of partners. Additionally, expect growth in the sales and support teams to boost revenue and keep those new customers happy.

Looking at the comments on forums and Twitter around the new deal, some seem to wonder if this is why Jive's SBS is so expensive compared to its rivals. Others compliment the product on its features and rate it among the best solutions. Some cite a possible exit strategy linking it with SAP (another Sequoia partner). Whatever the results, Jive's future seems to be bright and interesting.