Gnip Raises Another Round
Today Gnip announced they have raised a $3.5m round that follows their seed financing . We invested along with our friends at First Round Capital and SoftTech VC.
Gnip has made a ton of progress since we initially funded it at the beginning of the year. I wrote about the initial financing when Gnip launched in July in my post Gnip is Ping Spelled Backwards. Since they launched, the founders (Eric Marcoullier and Jud Valeski) have build a great technical and product oriented team, launched v2.0 of Gnip, have continued to make great progress on fleshing out the initial idea into a business, and have made some important decisions about their near term product roadmap.
Gnip is part of our Glue investment theme and is one of my favorite places to invest – in the "software infrastructure layer" of the Internet. Other companies that we’ve invested before in this area include FeedBurner and Postini. Here’s hoping that Gnip can walk in their footsteps.