DoubleDutch Closes $1.2 Million Investment Round, Led by Lightbank

SAN FRANCISCO, April 25, 2011 /PRNewswire/ -- Enterprise mobile social business startup DoubleDutch today announced it has raised $1.2 million in financing, led by Lightbank the investment fund started by Groupon co-founders Brad Keywell and Eric Lefkofsky.  With the seed financing, DoubleDutch will embark on an aggressive expansion of its platform that helps enterprises to launch their own customized geosocial applications for customers, employees, partners and other stakeholders.

Other participants in DoubleDutch's initial capital infusion include Charles River Ventures, Launch Capital, Accelerator Ventures, Venture51, and Zig Capital.  Investors such as Eric di Benedetto, Karl Jacob, Russ Fradin, Thanos Triant, Michael Tanne, Robb Wilmot, Adam Schwartz, Antoine Blondeau, Anu Nigam, and Tim Stevens were also involved in the round.

"DoubleDutch has a running start in one of the strongest tech categories in recent years.  Its customer list, which includes Cisco, HP, Adobe, Gannett, and TED, is strong and growing quickly," noted Paul Lee, Partner at Lightbank.  "We're excited to be playing a role in the success of this promising company and its valuable products."

"DoubleDutch is thrilled with the group that came together for this opportunity," said Lawrence Coburn, DoubleDutch chief executive officer.  "This funding will give us the resources we need to continue to build on our head start in bringing mobile, social functionality to the enterprise."

DoubleDutch, which began operations as an independent company earlier this year, offers products that help enterprise teams stay connected, log their activity, and get work done.  The company's proprietary technologies enable location-based networking, social interaction, employee mapping and more; at trade shows, for example, attendees can connect and network with each other by sharing their present location.  

Apps from DoubleDutch can be skinned with logos, splash screens, custom content and more to maximize enterprise branding and visibility.  Supported operating systems include Apple iOS, Android, BlackBerry, as well as an HTML5 version.  Each mobile app can be managed via a self serve dashboard and analytics panel.

About DoubleDutch:

DoubleDutch helps companies connect their employees and customers via mobile, geosocial applications.  From events, to field teams, to local communities of interest, DoubleDutch is the only geolocation platform built from the ground up for the enterprise.  DoubleDutch launched its social business tools in March, 2010 at the SXSW Interactive Festival.  To learn more, go to www.doubledutch.me.  

About Lightbank:

Lightbank is a Chicago-based fund focused on early-stage technology companies. Founded by Eric Lefkofsky and Brad Keywell, who founded Groupon, MediaBank, InnerWorkings and Echo Global Logistics, Lightbank invests money, time and expertise to help innovative businesses achieve dynamic growth. For more information, visit http://www.lightbank.com.

SOURCE Lightbank

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