Janrain to push social enterprise solutions with $33 million funding
Social login giant Janrain has newly secured $33 million in funding from a group of investors keen to stake claim on the company’s rapid growth.
The company saw revenues more than double in 2012, and its platform now captures and stores 300% more unique social profiles per month than it did at the beginning of the year, for leading brands such as Phillips, Channel 4, Dr Pepper Snapple Group and Mattel.
Now, thanks to funding from Millenium Technology Value Partners, Split Rock Partners, Epic Ventures and salesforce.com, plus existing investors, the company is set to push forward its endeavour in creating and reinventing ways for companies to interact with online consumers.
Perhaps most interesting is Janrain’s work in the social enterprise sector. The third and latest generation of its user management solution is the first to integrate profile data with a broad array of component technologies such as email marketing tools, ecommerce platforms and personalization engines.
Social enterprise is set to be a big trend for 2013. As more companies settle into social strategies and begin to look beyond social’s now-traditional parameters of usage and benefits, they’ll be examining enterprise software as an investment going forward. Clearly, with this financial backing, Janrain is well-placed to meet this demand.
“It’s a very exciting time for Janrain, our investors and customers as we enter the next phase of social login and user management,” said Larry Drebes, CEO of Janrain. “I cannot imagine another company other than Janrain with the pieces in place to forge ahead. This funding will help us accelerate the execution of our strategy to transform the ways that companies interact with their online consumers.”