The company called it a “mezzanine” round, suggesting it is the last round before the company gets sold or goes public. It was led by DAG Ventures. Teachers’ Private Capital, the private investment arm of the Ontario Teachers’ Pension Plan, in another new investor.
The round continues DAG’s strategy of following investments made by well-known venture capital firm, Kleiner Perkins Caufield & Byers. For example, DAG has invested in Friendster, Podshow, Xdx and Pinger — all companies invested in early by Kleiner Perkins. DAG has also followed Sequoia and Benchmark, and thus has become known as “Coattail Ventures.”
Existing investors all participated in the round, including Kleiner Perkins, Concentric Equity Partners, Emergence Capital, Integral Capital and Foundation Capital Partners.
The company had already raised at least $79 million.
(Story first published 1/9)