Google + Bump, Mindjet + Spigit, and More: Bay Area Deals Roundup
There were too many big mergers and funding announcements from the San Francisco / Silicon Valley tech community this morning to let them all pass by. To wit:
—Bump, the Mountain View, CA-based Y Combinator graduate whose apps help mobile users quickly exchange contact information, photos, and other files, has been acquired by Google. Bump had raised $19.9 million from Y Combinator, SV Angel, Sequoia Capital, Felicis Ventures, Sherpalo Ventures, Andreessen Horowitz, and a number of prominent Silicon Valley angel investors. “We couldn’t be more thrilled to join Google, a company that shares our belief that the application of computing to difficult problems can fundamentally change the way that we interact with one another and the world,” CEO and co-founder David Lieb said in a blog post announcing the acquisition, the terms of which haven’t been disclosed. Xconomy profiled Bump in September 2010, again in January 2011 after the closing of company’s $16 million Series B round, and a third time in December 2012 when the company released its Flock photo-sharing app. Lieb said Bump and Flock apps will continue to operate as usual “for now,” but that users should expect changes in the future.
—San Francisco-based Mindjet, which offers collaboration software built around the idea of graphical mind maps, has acquired competitor Spigit, the companies announced today in a press release. Spigit makes a Web- and mobile-based “innovation management” platform that borrows ideas from crowdsourcing, games, and online surveys to encourage employees to share ideas. Mindjet CEO Scott Raskin said that by teaming up, Mindjet and Spigit will be able to create “the first enterprise software to deliver a repeatable process for driving innovation—from idea generation through opportunity selection through project execution.”
–Okta, a San Francisco identity management startup that helps other companies streamline access to multiple Software-as-a-Service platforms, has raised another $27 million in a just-completed Series D round, with existing investors Andreessen Horowitz, Greylock Partners, and Khosla Ventures all ponying up. The company says it’s using part of the infusion to expand internationally, especially in Europe. Okta has raised just shy of $80 million all told.
—Morgenthaler Ventures has led a $5 million Series A investment in Convo, a San Francisco startup building software for Yammer-like online “conversational workspaces” where company employees can collaborate on a range of document types.”There are collaboration services you use to run chit chat, and there are those that run your company,” Morgenthaler partner Rebecca Lynn said in a statement. “Convo is relied on for the latter.”
—[Updated with additional information from the company] Mountain View, CA-based Mobile Iron, which specializes in mobile device management software for large companies, has raised $50 million in a funding round led by new investor Northgate Capital. UMC Capital and SingTel Innov8 joined in, as did existing investors Foundation Capital, Institutional Venture Partners, Norwest Venture Partners, Sequoia Capital, and Storm Ventures; the new cash brings the company’s total venture pot to $150 million.