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Yammer Raises $85 Million In Funding
Social media is now becoming the de facto standard for online interaction that even businesses are embracing their brand of social connection and employee management. This new paradigm is an emerging one and few players in the space are able to deliver like Yammer. The company brands itself has a Social ERM (employee relationship management) and from the look of things, investors believe in the model and are willing to throw everything at it.
Just a few months ago we wrote about Yammer’s success in raising over $17 million in funding to help drive marketing and expansion of the company. Now we are able to report that it has raised another round of money—this time quadrupling the earlier amount raised. The company has managed to raise $85 million in fresh funding and the money will apparently be used to hire new sales staff and engineers.
Looking at the growth of Yammer we can see I suppose, why investors are bullish about the growth of the company. 2011 was a bumper year for Yammer which saw a tripling of sales growth and the accumulation of more than 4 million users. Much like a Linkedin which harbors professionals, Yammer deals mainly with companies and their staff so in pure revenue potential, its user base is very sound.
It will be interesting to see if the company goes for an IPO in the coming years.