Emergence Leads Janrain Round
San Mateo, CA-based Emergence Capital, an investment fund focused purely on Software-as-a-Service companies, is the lead investor in a $15.5 million Series B financing round announced today for Janrain of Portland, OR. Existing investors Anthem Venture Partners, DFJ Frontier, RPM Ventures, Tim Draper, founder Larry Drebes, and Square 1 Bank also participated. Janrain makes single sign-on software that lets users log into various Web services using their social media credentials from Facebook, Twitter, and the like. The 60-employee company previously raised $3.25 million in 2009.