Cloud-based collaboration and task management software company Huddle has raised $24 million in Series C financing on the heels of setting up an office in New York, and plans to use the proceeds to triple its team size in the next 12 months.
The round was led by Jafco Ventures with participation from DAG Ventures. Prior backers Matrix Partners and Eden Ventures also chipped in, as did super angel investors Subrah Iyar (founder of WebEx) and Herb Madan.
Huddle has now raised $40 million in funding to date.
Founded in London in 2006, Huddle has come a long way. The company says it has seen business triple in size each year since its inception, and plans to use the fresh capital to accelerate growth and enhance its enterprise content management and social software offerings.
The company says more than 100,000 organizations in 180 countries use its products to store, share and collaborate on content in the cloud across devices.
Says Huddle co-founder and CEO Alastair Mitchell:
“Huddle is revolutionizing the ECM market by making it collaborative, social, ubiquitously accessible and – above all – intelligent.
Our intelligent collaboration platform opens up content silos across the global enterprise ecosystem, enabling people to share, discover and work on content wherever, whenever and with whomever they need to.”
(ECM stands for enterprise content management, in case you’re wondering).
We’re going to catch up with Mitchell in the coming days to take a more in-depth look of why they raised funding, and what they plan to do with it.
For now, read his blog post: