Venture backers of social marketing and right management software business ZEFR have returned to help the company pick up $30m in new financing.
New investor Institutional Venture Partners led the round, which also included equity from US Venture Partners, Shasta Ventures, First Round Capital and Richmond Park Partners.
IVP general partner Dennis Phelps has joined ZEFR’s board of directors following the financing, which the company said would be used to drive its software development and grow its sales and marketing teams.
He said, “Zach and Rich are world-class entrepreneurs who saw a massive opportunity in thinking about the YouTube platform for large brands and content owners.
“ZEFR is the market leader and delivers real value for its enterprise customers. We are thrilled to be part of the next phase of the company’s growth.”
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