Krugle Secures $6.1 Million in Series B Funding Led by Rustic Canyon Partners.
Krugle (www.krugle.com) provides a fast, easy-to-use, specialized search engine that enables professional programmers to gain instant access to source code and highly relevant technical information they need to build applications, making it easier to reuse code components and significantly increasing productivity. Krugle also provides a workspace where programmers can work independently or collaboratively by sharing search results and annotations with their peers.
"I'm delighted to welcome Mark and Rustic Canyon Partners to the Krugle team," said Steve Larsen, co-founder and CEO of Krugle. "The additional capital allows us to accelerate our development efforts, bringing our current product to market quickly and enabling us to more rapidly complete development of our plug-in and enterprise versions. In addition, Rustic Canyon's expertise in media, advertising and open source are assets we intend to leverage."
"We have been extremely impressed by Krugle's results since its inception," said Mark Menell, Rustic Canyon Partner. "Krugle quickly established itself as the clear leader in this important vertical. Receiving the Demo God award at the DEMO 2006 conference on top of the 35,000 developers who signed up for Krugle's beta, convinced us there is a large, underserved market."
"This is the fourth opportunity I've had to build an industry-leading company with Steve Larsen, Krugle's co-founder and CEO," said Brian Jacobs, General Partner of Emergence Capital. "Steve attracts great teams and solid investors and has a track record of producing successful outcomes. We know Mark Menell and the Rustic Canyon team will help grow the company and add significant value."
Krugle solution provides a fast, easy-to-use search tool, which allows programmers to search for both code and the related technical information they need. The company is headquartered in Menlo Park, Calif. For more information about Krugle, go to http://www.krugle.com
About Rustic Canyon
With over $800 million under management, Rustic Canyon Partners invests in early stage and middle-market companies positioned for strong growth with high-quality, experienced management teams, large addressable markets and defensible competitive advantages. Rustic Canyon Partners has offices in Santa Monica, Silicon Valley and Seattle.
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|Date:||May 31, 2006|
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