Huddle completes $24m funding round, ponders IPO
Class of 2009 Young Guns secure Series C funding with backing from Jafco Ventures and Dag Ventures
Huddle, the company co-founded by 2009 Growing Business Young Guns Andy McLoughlin and Alistair Mitchell, has closed a series C funding round worth a total of $24m.
The round, which takes total investment in Huddle past the $40m mark, has been led by a pair of Silicon Valley-based venture capital firms, Jafco Ventures and DAG Ventures, both of which specialise in investing in young, promising tech companies.
Jafco and DAG has been supported by existing backers Matrix Partners and Eden Ventures, as well as Subrah Lyar, the founder of web conferencing firm WebEx.
The latest investment, building on a series B round which closed two years ago this month, will enable Huddle to triple its staff base over the next 12 months.
The company, which is co-headquartered in London and San Francisco, launched an office in New York earlier this month, and its client list currently includes NASA, Procter and Gamble and Saatchi & Saatchi.
Following its latest round of funding, Huddle is now weighing up the idea of a flotation over the coming months.
CEO Alastair Mitchell said: “An IPO is on the plan, perhaps in a couple of years. It’s our ambition to be a great stand-alone company.”