Rapleaf Secures Venture Capital Funding
San Francisco, CA - June 1, 2007 -- Rapleaf announced the company has raised Series B venture capital funding from The Founders Fund and Rembrandt Venture Partners. The Series B round is in addition to the Series A angel round of funding led by Peter Thiel, Ron Conway, and other prominent Silicon Valley angel investors in June 2006.
"We believe that Rapleaf has enormous market potential and is ahead of the market in providing social media data to business customers who are committed to better understanding and engaging their consumers," said Richard Ling, general partner at Rembrandt Ventures. "Rapleaf meets the strict criteria we set for funding an innovative company - cutting edge technology coupled with an experienced management team with an exceptional track record. Rapleaf is at the forefront of such a burgeoning market and Rembrandt Venture Partners is excited to be involved with the company."
"When we provided early stage funding to Rapleaf a year ago, we were very excited about the market potential for Rapleaf," said Peter Thiel, general partner at The Founders Fund. "We continue to be impressed by the team, and how rapid the company has advanced in such short amount of time. We believe the company will be a leader in the social media data space for a long time to come."
The new funding will enable the company to build the technology team and expand the search service product offering to business customers.
"The financial backing and counsel from The Founders Fund and Rembrandt Venture Partners will enable Rapleaf to take the necessary steps for long-term growth," said Hoffman. "In particular, we're excited about expanding our technology and our engineering team with amazing software engineers who are committed to changing the world. And in that quest, both Rembrandt Venture Partners and The Founders Fund, with their proven track record in working with technology companies and building leaders, will be critical in Rapleaf's success."
About The Founders Fund
Based in San Francisco, Calif. and founded in 2005, Founders Fund is a group of four proven entrepreneurs with a shared vision: to change the way venture investments are made. Led by a team of experienced entrepreneurs, Founders Fund seeks to provide the capital, insights and support required to build a company from the ground up and sustain successful enterprises with a non-traditional, founder-focused approach. Their current portfolio includes companies such as Facebook, Powerset, Slide and others. For more information, visit www.foundersfund.com.
About Rembrandt Venture Partners
Rembrandt was established as a formal venture fund in 2004 to provide private equity capital to early stage technology companies. The firm pursues investments in a variety of sectors including enterprise software and services, Internet infrastructure, communications, next generation wireless sectors and new media convergence companies. Rembrandt's General Partners are experienced and successful Silicon Valley investors and executives who capitalize on this opportunity. The General Partners have over 70 years of venture capital investment, operational, entrepreneurial and technical experience. Rembrandt's limited partners and advisors represent many leading West Coast technology companies. Visit www.rembrandtvc.com.
Rapleaf is the leader in automated search for people information on the social web. Businesses use Rapleaf's solutions to gain insight on consumers, manage fraud risk, and expand recruiting programs. Consumers use Rapleaf to conduct individual people searches and manage their own online footprint. Headquartered in San Francisco, the company has conducted over 500 million unique searches for businesses and consumers. For more information, visit www.rapleaf.com.
Press ContactMichael Hsu