Yammer Raises $17 Million as Former VP Facebook Palihapitiya Joins the Board
According to David Sacks, Yammer founder and CEO, the company really wanted to get Palihapitiya on board and raising the funds was part of that process. “Chamath is one of the most insightful people in tech and his experience at Facebook will prove invaluable to us as we scale Yammer in the years to come."
One of the leading providers of enterprise social networks received $17 million in its fourth round of funding. That brings the total financing of Yammer to $57 million. The Social+Capital Partnership, a new fund established by former Facebook Vice President Chamath Palihapitiya, led the round with previous investors Charles River Ventures, Emergence Capital and U.S. Palihapitiya will have an observer’s seat on Yammer’s board of directors.
“Social networking is destined to have as significant an impact on the enterprise as it has already had in our personal lives,” said Palihapitiya, founder and managing partner of The Social+Capital Partnership.
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