US-based software company Microsoft is reportedly closing in on an acquisition of enterprise social networking company Yammer for $1bn.
In March Yammer raised $85m in its fifth round of funding with backing from CrunchFund, which was set up with a fund invested in by technology company AOL.
The round more than doubled the funding raised in Yammer’s history to $142m. Other backers of the round were DFJ Growth, part of venture capital firm Draper Fisher Jurvetson, which led the round, as well as venture firms Meritech Capital Partners; Capricorn Investment Group, Khosla Ventures, Charles River Ventures, Emergence Capital, Founders Fund, Social+Capital Partnership, and US Venture Partners, as well as the investment unit of Jeff Skoll.
Also participating were angel investors Bill Lee, Max Levchin, and Ronnie Lott, an American Football player.