55Social, a Brazil-based social media marketing platform, has reportedly raised an undisclosed amount from Redpoint E.Ventures, a corporate venturing-backed fund. According to news provider TechCrunch, the specifics about the funding amount are not being disclosed “but we have confirmed that this round is a series B and brings its total amount invested in 55Social to more than $10m”. In July, Redpoint E.Ventures, the Brazil-based venture firm backed by E.Ventures, a corporate-backed venture firm, and venture firm Redpoint Ventures, raised $130m for its first fund. Founding partners Yann de Vries, ex-Cisco corporate development, and Anderson Thees, formerly chief executive of Brazil-based search engine Apontador, are managing the fund, which has invested in portfolio companies Viajanet, Grupo Xango, 55Social, Shoes4you and Sophie & Juliete. Cisco said it had committed $15m to the fund, Redpoint E.Ventures Brazil. Redpoint and E.Ventures started investing in the region independently in 2009, before partnering earlier this year. Emilio Maciel, chief executive of 55Social, founded the company in July 2011 after leaving his job at discount coupon provider Groupon, where he co-founded its Brazil and China operations.
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55Social sambas with fund
Nov 2, 2012 • Global Corporate Venturing
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