SocialCast's Enterprise Collaboration Tools Get $8M

The fact that Venture Capital firms are opening their wallets again is a good sign of potential economic recovery, and the latest startup benefactor is SocialCast. SocialCast offers “enterprise collaboration” tools similar to Yammer and others, which are a combination of features of Twitter and the Facebook Wall, plus infrastructure for groups and following team conversations.

SocialCast raised US$8M in Series B funding from two firms: Menlo Ventures and True Ventures, to add to the nearly $1.5M they raised in 2009 from True Ventures. Menlo Ventures portfolio includes Hotmail (now part of Microsft/ MSN), IMVU, FrontPage (now part of Microsoft), Infoseek, Jobfox, Roku, MobiTV and many more. True Ventures portfolio includes Meebo, GigaOm, KISSMetrics, appssavvy, PastFuture, 1000 Markets, Kwedit, MindBites, and more. GigaOm’s Om Malik is a VC partner with True Ventures and has a seat on SocialCast’s board.