San Mateo-Based SuccessFactors Raises $45 Million in Funding

San Mateo, Calif. -- SuccessFactors, a San Mateo-based developer of performance and talent management software, said that it has raised $45 million in a new round of funding to continue the expansion of its business. The financing includes $25 million from Menlo Park's Granite Global Ventures, as well as participation from previous investors Greylock Partners, Canaan Capital, TPG Ventures, Cardinal Venture Capital and Emergence Capital Partners. In addition, the company said that it has secured a commitment of $20 million from Lighthouse Capital Partners. SuccessFactors said that it will use the funding to add additional staff and systems. In the first five months of this year, the company landed 127 new clients to raise its total customer count to more than 500. Its software is designed to align employee performance with business results.
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