Venture firms Kleiner Perkins Caufield & Byers (KPCB) and Sequoia Capital have reunited to invest $30 million in Jive Software, Inc., a creator of social networking technology for the use of businesses. With this deal in place, Jive will have raised $57 million in three rounds of funding, with the previous $27 million having been invested by Sequoia. Jive's technology is currently in use by more than 3,000 organizations.
KPCB and Sequoia are both known for having the foresight to buy a combined $25 million stake in Google back in 1999, before the search engine grew into the global entity it is today.
(www.kpcb.com; www.sequoiacap.com; www.jivesoftware.com)