Jive Software of Portland, Oregon adds $12 million in venture funding

Portland-based Jive Software http://www.jivesoftware.com/ announced this evening that it has raised $12 million in new venture backing from existing investor Sequoia Capital http://www.sequoiacap.com/ , which provided $15 million to Jive in 2007.

"We are going to continue to expand the Jive SBS product footprint by dramatically increasing our R&D efforts," CEO Dave Hersh said in a blog post touting the news. "We’re doing a lot more hiring! In just the last month, we have added 11 new Jivers with 10 more starting in the next two weeks."

By Mike Rogoway, The Oregonian

Full Story: http://blog.oregonlive.com/siliconforest/2009/10/jive_software_adds_12_million.html