Lithium, which sells social networking software to businesses, raises $9M
Lithium Technologies, an Emeryville, Calif. company that sells software to companies to help them build online communities with their customers, said it has raised $9 million in a first round of financing.
The six-year-old company has been bootstrapping until now, and has won customers like Cingular, Comcast, and Dell.
The round was co-led by Shasta Ventures and Emergence Capital Partners. Ravi Mohan, of Shasta Ventures, and Gordon Ritter, of Emergence Capital Partners join the company’s board.
Among Lithium’s community offerings are forums, social networking and chat.
A report by VentureWire says the company’s post-money valuation is $23 million.
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About the Author, Matt Marshall
Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.












