The corporate venturing unit of Germany-based software company SAP has helped social network cloud company Lithium Technologies raise $53.4m.
SAP joined the series D round, which was led by venture capital (VC) firm New Enterprise Associates. New Enterprise Associates’s Pete Sonsini has joined Lithium’s board.
Lithium is a software platform which helps companies use social media to market to clients.
Other backers of Lithium include VC firms Benchmark Capital, DAG Ventures, Emergence Capital, Greenspring Associates, Shasta Ventures and Tenaya Capital.
GCV estimates Lithium has raised more than $100m based on its prior Securities and Exchange Commission filings.
In July 2010 the company raised $27.3m, according to this filing. This round was an amended filing of the company’s originally $18m series C.
In 2008 the company raised $12m, according to another filing, while in 2007 the company raised $8.9m, according to this filing.
Lithium’s clients include cloud company SuccessFactors, which was bought by SAP in December as well as UK-based media company BskyB, US-based fast food company McDonalds and Swiss-based consumer goods conglomerate Nestle.
The fundraising comes at the end of the first 100 day period of Lithium’s chief executive Rob Tarkoff.