SelectMinds Completes $5.5 Million Series A

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<p><strong>New York &mdash; Aug. 22</strong><br />SelectMinds Inc., a provider of corporate social networking (CSN) solutions, has completed its Series A round of financing in the amount of $5.5 million to fund the continued expansion of its business. <br /><br />Bessemer Venture Partners (BVP) is the sole investor in the round.<br /><br />”We are excited to be involved with SelectMinds,” said Robert P. Goodman, BVP managing partner, who joins the SelectMinds board of directors. “SelectMinds provides enterprise-grade corporate social networking solutions to some of the world&#39;s largest and most demanding organizations. </p><p>”These solutions help organizations become better connected and strengthen relationships among employees, alumni, women and other key constituencies. Their experience developing and delivering global corporate social networking solutions, combined with their practical, consultative approach in driving these networks to solve business challenges, gives them a clear advantage in this dynamic space.”<br /><br />Alex Ferrara, BVP vice president, also joins the SelectMinds board of directors.<br /><br />”Bessemer will be an excellent partner to help us accelerate the growth of our business,” said Anne Berkowitch, SelectMinds co-founder and CEO. “Their extensive experience in building great companies and their deep understanding of the social networking and enterprise software space will be invaluable. We&#39;re very much looking forward to working with Bob and Alex as board members.”<br /><br />Among other BVP Internet company investments are Skype, a peer-to-peer Internet telephony company; Postini (to be acquired by Google), a spam-protection company; LinkedIn, a business networking site; Wikia Inc., a company co-founded by Wikipedia creator Jimmy Wales; Revver, an online video-sharing platform; and Zopa, a U.K.-based person-to-person lending company.</p>

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