Enterprise content collaboration company Huddle has completed a $24 million Series C round of funding. The financing was led by Jafco Ventures, with participation from DAG Ventures and existing investors Matrix Partners and Eden Ventures. Subrah Iyar, the founder of WebEx, and experienced venture investor Herb Madan also participated in the round.
Huddle has raised $40 million in equity funding since the product’s launch in 2007. Co-headquartered in London and San Francisco with customers in 180 countries worldwide, Huddle launched operations in New York City in May.
Alastair Mitchell (Co-founder and CEO, Huddle): Traditional ECM systems are failing to support the new ways in which people are now sharing information and working together. These systems were designed for content storage, not collaboration; for servers – not for the cloud.
Huddle was advised on legal matters by Orrick, Herrington & Sutcliffe on the transaction.