US-based software collaboration technology provider WorkSpan received $27m on Monday in a series B round that featured M12, the corporate venturing arm of software producer Microsoft.
Venture capital firm Redline Capital led the round, investing alongside Mayfield, the VC firm that had previously led the company’s $9m series A round in August 2017.
Founded in 2015, WorkSpan provides a cloud-based network that enables companies to collaborate on sales and marketing efforts, manage joint market development funds and jointly develop services, hardware and software products.
The company has about 200 customers that include SAP, Lenovo, Google, Accenture, VMware, Red Hat and Nutanix. Microsoft has also formed a partnership with WorkSpan and will provide its Dynamics 365 customers with access to the ecosystem.
M12 managing director Leo de Luna said: “WorkSpan makes it easier to build, market and sell together, changing the dynamic in building active and engaged ecosystems of partners.
“With this investment, M12 is excited to continue the company’s ongoing commitment to help the hundreds of thousands of partners in the Microsoft partner ecosystem grow business.”