/// Yammer Lands $85 Million Funding Round From Draper Fisher Jurvetson
The rumors are true. But, boy, were they ever off on the numbers. Social enterprise software player Yammer has landed a whopping $85 million in a fifth round of venture capital funding led by Draper Fisher Jurvetson, with Meritech Capital Partners, Jeff Skoll’s Capricorn Investment Group and Khosla Ventures all getting in on the action. The round brings Yammer’s total capital raised to date to $142 million. DFJ managing director Randy Glein will take an observer’s seat on Yammer’s board. Published reports on Pando Daily had previously suggested that the company was close to landing a round in the $50 million neighborhood, with the implied valuation between $500 million and $1 billion, a range so large you could drive a tank through it. Yammer won’t say one way or another, but it’s pretty safe to say the higher number is the more accurate one. Prior investors Charles River Ventures, Emergence Capital, Founders Fund, the Social+Capital Partnership and US Venture Partners are all participating again, as are angel investors Bill Lee, Max Levchin and football great Ronnie Lott. Clearly, the intent here is to raise Yammer’s visibility game a bit, in the face of more visible players in the social enterprise software space — like Jive, which IPO’d late last year, and Chatter, which Salesforce.com CEO Marc Benioff can’t seem to stop telling people will save the world. Social enterprise software is becoming an increasingly popular and thus competitive business. Jive’s IPO gives it some visibility that doesn’t hurt when it goes to win business from new customers.