SocialVibe Gets $20M More

Los Angeles-based SocialVibe, the provider of social advertising software and technology, announced today that it has raised $20M in additional equity funding. The funding was led by Norwest Venture Partners, and also included Redpoint Ventures, Jafco Ventures, and Pinacle Ventures. Jeff Crowe of Norwest Venture Partners joins the company's board as part of the funding. SocialVibe is headed by Jay Samit. The company said the new funding will go towards growth efforts. The firm provides technology which invites consumers to participate in offers from brands, in exchange for virtual items in social games, for donations to charity, and other non-traditional ways to engage consumers. Those offers are made through such companies as Pandora, Causes, Huffington Post and Zynga. More information »