Wednesday, February 11, 2009

Greylock Partners adds to Oodle’s $5.6M funding

By Mass High Tech staff

Waltham venture capital firm Greylock Partners has contributed to a $5.6 million venture capital investment in Oodle Inc., a San Mateo, Calif.-based online classified ads aggregator.

The financing also got support from two California VC firms, Jafco Ventures of Palo Alto and Redpoint Ventures of Menlo Park.

Oodle launched in 2005 and today counts more than 200 brands on its listings network. Its funding announcement adds up to a total of $21.6 million in VC financing.

Greylock Partners, which has offices in San Mateo and Israel, manages more than $2 billion in capital, supporting equity for about 300 companies. Of these firms, about 125 companies have become publicly held and about 100 other companies have had successful mergers.

Founded in 1965, Greylock Partners focuses its investments on consumer technology, Internet, communications and enterprise information technology sectors.

Greylock announced last week that it participated in a financing round for another California firm, Delphix Inc., a database management solutions company that raised $8.5 million in its first round of funding.