JanRain Raises $1 Million In Funding For OpenID Products
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Online identity management tech firm JanRain has raised $1 million worth in a first round of funding, according to an SEC filing—part of a $3 million round. JanRain’s products integrate OpenID, a universal profile that lets people use one screen name to access content and accounts on multiple sites.
DFJ Frontier founder and managing director David Cremin is now listed as a board member—and the VC firm recently set up shop in Portland, where JanRain is based (per Northwest Innovation)—so that appears to be where at least some of the investment came from; we’re trying to confirm.
Social networks and media companies are increasingly moving toward open profile standards (like OpenID and OAuth) as a way to boost their reach (and potential ad revenues). Companies like Sears, K-mart and Interscope Records are currently using JanRain’s OpenID-based technology; the startup also gives third-party developers free access to its programming libraries.
Posted In: Money, M&A & Venture Capital, Venture Capital, Social Media, Technologies / Formats, draper fisher jurvetson frontier fund
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