Archive for the 'sequoia' Category

Jive Gets $15M in Funding from Sequoia

In case you missed the press, we (Jive Software) just did a deal with Sequoia Capital at Jive Software for $15M in VC funding. A few points from Dave Hersh, Jive’s CEO:

We’re proud of how we have grown this business over the last six years. We’ve been profitable since inception and have put good money in the bank. We have made our share of mistakes and missteps, but we haven’t sacrificed our values and ultimately those mistakes made us stronger and smarter. This year we struck a mighty vein with Clearspace when we launched in February. Now the growth is in high gear and bringing on a funding partner is a step towards becoming the provider of choice in the market.

and

We are proud of our heritage as a bootstrapped company. It’s helped to shape a culture of discipline and customer focus, and it’s always fun to say that we never raised a dime. Plus, there’s a few folks in this office that are a bit suspicious of VC’s. And for good reason – there’s a lot of bad ones out there who destroy companies in the name of selfish interests or bad management. But this situation is different for several reasons:

  • One VC: not a bunch in the room arguing for their own needs.
  • Minority stake: they’re along for the ride, not driving the ship.
  • Great firm: these guys didn’t get where they are by forcing bad decisions.

(Quotes from Dave Hersh’s Jive Talks blog post)

I think this is a great step for Jive, and I continue to be excited about working at a great company!