More than 10 years after launching and three years after its most recent investment round, Janrain is raising a substantial amount of cash.
The Portland-based startup, which develops technology that lets companies enable and track social sign-ins via Facebook, Twitter, LinkedIn and other services, today announced a $27 million Series D round led by HighBar Partners, with participation from existing investors Millennium Technology Value Partners, Split Rock Partners, Epic Ventures, Emergence Capital, RPM Ventures and DFJ Frontier.
The 125-person company, which employs more than 100 at its Portland headquarters, manages the social-sign in process for more than 2,000 clients like Samsung, Whole Foods, Mattell, and Dr. Pepper. Its software can collect customer profile data, which is valuable for marketers. The new funding will be used to build out Janrain’s data analytics technology.
“We see our core customer identity platform as the clear leader in a rapidly-growing market,” Larry Drebes, Janrain founder and CEO, said in a statement. “The organization today is structured to serve that market efficiently, which then allows us to look at adjacent problems and areas of expansion. Janrain recently added robust engagement functionality to its platform, and the company sees a number of similar opportunities in the market as enterprises look for new ways to activate their audiences and offer a wider variety of identity-based marketing use cases.”
The Oregonian noted that this is the largest venture round for an Oregon company this year and that Janrain will grow its workforce by 15 percent in 2016. It laid off less than 20 employees early last year.
Other notable venture rounds for Oregon startups this year include Jama Software ($20 million), Zapproved ($15 million), and PayRange ($12 million). Elemental Technologies raised $14.5 million this past December before Amazon acquired the company for a $296 million in October.
Total funding to date for Janrain is now $79 million. As a result of the funding, HighBar Partners Managing Director John Kim will join Janrain’s board.