Janrain adds another round to bring total investment to $79 million.
BY JACOB PALMER | DIGITAL NEWS EDITOR
Janrain has added another fundraising round — this one for $27 million — to bring its total investment to $79 million.
The company indicated it would like to use the funds to bolster its ability to incorporate analytics.
Janrain was once among the city’s most prominent startups, catching the social networking wave and growing rapidly in its downtown office. The 10-year-old company has kept a low profile, however, since a round of layoffs early in 2014.
The company had around 170 employees prior to those cutbacks. It currently employs more than 100 in Portland and another 25 elsewhere. Janrain said it plans to grow by about 15 percent in 2016, with most of the new jobs in Portland.
Wednesday’s investment shows investor interest remains strong. It’s the largest venture round for an Oregon company this year, topping $20 million Jama Software reported in March and $15 million for Zapproved in February.
(READ MORE: OregonLive.com)
The company manages Facebook login data for other companies looking to incorporate the monolithic medium.
Janrain plans to grow its staff by 15 percent from a current 100 people in the Portland office, and around 25 internationally including a recently-added office in China.
Janrain calls itself a “customer identity management solutions company.” What that means: Internet users come in contact with the company all the time when they login to e-commerce, music streaming or other websites.
(READ MORE: Willamette Week)