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Academia.edu and Zimride top San Francisco's recent funding news

San Francisco-based higher education company Academia.edu has secured $16 million in Series C funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced March 20 and financed by Tencent Holdings.

According to its Crunchbase profile, "Academia.edu is a platform for academics to share research papers. The company's mission is to accelerate the world's research."

The 11-year-old company has raised five previous funding rounds, including a round in 2016.

The round brings total funding raised by San Francisco companies in internet services over the past month to $886 million, an increase of $288 million from the month before. The local internet services industry has seen 270 funding rounds over the past year, capturing a total of $6.2 billion in venture funding.

In other local funding news, ride sharing company Zimride announced a $6 million Series A funding round on March 31, financed by Mayfield Fund.

According to Crunchbase, "Zimride, sold by Lyft to Enterprise in July 2013, was founded in 2007 to connect users for long-haul rides and carpooling for universities and businesses. The service made the vast majority of its money from SaaS-based ride-matching software that was run privately through individual schools and companies."

The company also raised a $1.2 million seed round in 2010.


This story was created automatically using local investment data, then reviewed by an editor. Click here for more about what we're doing. Got thoughts? Go here to share your feedback.

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