TenXer receives a $3 million investment

Deal Participants:
Company: TenXer View Profile Charts Homepage
Investors: True Ventures View Profile Charts Homepage
Radar Partners View Profile Charts Homepage
Khosla Ventures View Profile Charts Homepage
Deal Financials:
Investment Amount: $ 3 million
Series: B
Date:
Announced: Aug 28, 2012

Notes:

SAN FRANCISCO — tenXer, the technology company redefining personal productivity, today announced that the company has raised a $3 million series B funding round led by True Ventures, a Silicon Valley-based capital firm that invests in premiere early stage startups. Radar Partners, Khosla Ventures, and several high profile angel investors also participated in tenXer’s series B funding round.

In addition, Puneet Agarwal of True Ventures will also be joining the tenXer board of directors, which includes Kevin Compton of Radar Partners, tenXer co-founder Niel Robertson, and tenXer CEO Jeff Ma.

“We love to partner with the most dynamic, promising entrepreneurs out there, and Jeff’s background and the huge market he is attacking made investing in tenXer a no-brainer for True. We are happy to join with co-investors Radar Partners, Khosla Ventures and several angels in support of tenXer, and we are beyond thrilled to have the opportunity to work with someone of Jeff’s caliber,” said Puneet Agarwal, a partner at True Ventures.

tenXer plans to use the latest investment to grow the team with key hires in marketing, product management, and engineering. The company also plans to expand its service offering outside of the software engineering industry. In just three months after releasing the invite-only beta of tenXer’s human capital management platform, the feedback that the team has received from early users has been encouraging.

"tenXer is an essential tool for measuring the impacts of adjustments in our development practices. Our team continues to have evolving discussions on what fast, healthy, and collaborative means for our team. The insight into our work habits that tenXer provides are a vital part of our evolution," said Trey Hicks, VP of Development at Trada, a Boulder based start-up specializing in crowdsourced paid search. Hicks and his team were early tenXer beta users.

This is tenXer’s second round of funding. The company’s Series A funding round was led by Radar Partners and was closed in September 2011. In less than a year, tenXer has grown to a team of nine and has launched their product in beta. The initial effort is geared towards software engineers and focuses on integration with heavily used tools like GitHub, Pivotal Tracker and Jira.

“The quantified self is a tremendous movement that has penetrated places like health care, fitness and social planning but it is still untapped by those looking to improve at their jobs. We are going to do our best to change that,” said Ma.

tenXer, the fourth company founded by serial entrepreneur Jeff Ma, was created in 2011 with the goal to reinvent human capital management from the bottom up. Ma gained notoriety as the inspiration for the main character in the book Bringing Down the House and the movie, 21. His experiences at the table shaped a fascination in how metrics and data can be used to motivate people to higher levels of achievement. Seeing a need for a better tool using similar philosophies to help people improve in their jobs, Ma started tenXer.

Read more here: http://www.heraldonline.com/2012/08/28/4218910/tenxer-raises-3-million-in-series.html#storylink=cpy

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Edit History:
Aug 29 '12
This version submitted by howmania
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