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Blue Jeans Network secures $76.5 million funding round

September 23, 2015

Blue Jeans Network, a provider of cloud-based video collaboration services, has raised $76.5 million in new funding led by NEA. Previous investors Accel, Battery Ventures and Norwest Venture Partners were joined by new backers Glynn Capital, Quadrille Capital and Derek Jeter, among others in the round. The company will use the new funding to expand in Europe, Asia and Australia. “Despite all the advances in modern technology, the human face is still the most powerful tool for business,” said Krish Ramakrishnan, CEO, Blue Jeans Network. “As organizations have become more geographically dispersed, the need for video has become more critical than ever to establish and maintain meaningful connections, foster empathy and understanding, and improve communications. Our customers improve their productivity, save time and money, and build better relationships with Blue Jeans. We are so proud of how far we’ve come in a few short years, but we are not done yet. With this investment we are fueling up our tanks and preparing to step on the gas.”

CoverHound, a digital platform for comparing and purchasing insurance, has raised $33.3 million in Series C financing led by ACE Group.  The company has now raised a total of more than $53 million. RRE Ventures, Blumberg Capital, Core Innovation Capital, Route 66 Ventures and American Family Ventures also participated in the funding round. “Since inception, we’ve been focused on insurance innovation through offering the fastest and smartest way to compare and purchase P&C Insurance,” said Keith Moore, Chief Executive Officer of CoverHound. “This firm commitment to both the comparison shopping experience and the insurance purchasing process has proven to be a unique differentiator that our valued carriers and marketing partnerships count on as CoverHound continues to effectively scale.”

CrunchBase, a company and investment database, has spun out of AOL/Verizon to become an independent company, with funding from Emergence Capital. CrunchBase boasts 2 million unique visitors per month and profiles more than 860,000 startups, people and investors in its database. The new company has appointed Jager McConnell, former VP of Product at Salesforce, as its new CEO.

Cybersecurity firm Zscaler has closed a $110 million financing round, Reuters reports. The company raised $25 million from Google Capital to add to its oversubscribed $85 million round raised in August. Zscaler has now raised $148 million in total, and will now prepare for an IPO, according to CEO Jay Chaudhry.

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Filed Under: Finance, Investment Round Up, Startups

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