January 14th, 2013
Bulking up the 800 lbs gorilla: Social login juggernaut Janrain lands $33 million to accelerate growth
Confirming the rumors that started swirling last week, TechCrunch and The Oregonian confirmed that Portland’s Janrain had closed a $33 million round of funding, led by Millennium Technology Value Partners.
Janrain was already a well-funded operation. So this is pouring fuel on the fire. A lot of fuel.
According the Mike Rogoway at The Oregonian:
Today’s massive deal, which closed just before the end of the year, is more than twice the size of any venture investment announced in Oregon during 2012. It underscores the big opportunities that investors see in social media.
Janrain has now raised closed to $52 million altogether, making it perhaps the best-funded young technology business in the state.
To put it another way: this is a very big deal.
Also interesting? This marks the second big Portland investment in which Salesforce has participated an investor. They also invest in Urban Airship. Combine that with the fact that Salesforce is planning to open an office in Portland, and all of this gets even more interesting.
So what sort of business garners this kind of funding?
The Janrain User Management Platform (JUMP) combines the ability to acquire users across multiple digital and marketing channels—web, mobile, desktop apps and social media—with the management of user identity and profile data while delivering valuable customer insights.
The open standards, cloud-based platform comprises core products for social login and sharing, social profile data, registration, single sign-on and game mechanics. Designed to fit into your existing infrastructure, JUMP offers integrations with best-of-breed technology components and platforms.