CubeTree, a Redwood City, CA-based enterprise collaboration suite built on a social networking platform, has secured $8m in Series B financing.
The round was led by InterWest Partners with particpation from existing investor Trinity Ventures.
CubeTree, which was launched in May 2009 to deliver a hosted social networking platform with enterprise collaboration tools like wikis, blogs and file sharing tightly integrated into the social network, will use the funds to continue investing in product and market development.
In conjunction with the financing, Bruce Cleveland of InterWest Partners has joined the company’s board of directors.
Commenting on the funding, Carlin Wiegner, chief executive officer and co-founder of CubeTree, said: “Enterprise social software is an extremely fast-moving space and this new investment round will allow us to maintain our aggressive speed of product innovation, while accelerating the growth of the company.
“We are very excited to be working with Bruce Cleveland and InterWest Partners on this round of financing”.
Bruce Cleveland added: “Since its launch in May 2009, CubeTree has clearly differentiated itself and developed significant market momentum through its aggressive delivery of innovative solutions. I’m looking forward to working closely with Carlin and his team to support CubeTree’s growth as a major player in the enterprise social software market”.
To date, the company has raised nearly $12m in funding.
FinSMEs
04/11/2009