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Krugle Secures $6.1 Million in Series B Funding Led by Rustic Canyon Partners.



MENLO PARK Menlo Park.

1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there.

2 Uninc.
, Calif. -- Krugle, Inc., the leading search engine for developers, today announced that it has secured $6.1 million in Series B funding led by Rustic Canyon Partners. First round investors Emergence Capital Partners, First Round Capital, and Omidyar Network Omidyar Network was founded in June 2004 by eBay founder Pierre Omidyar and his wife Pam in Redwood City, California. Omidyar Network is intended to expand the investment scope of the Omidyar Foundation by funding not just non-profit projects, but also for-profit ventures and  also participated. Additionally, Rustic Canyon Partner Mark Menell, who led this round of funding, was elected to the company's Board of Directors.

Krugle (www.krugle.com) provides a fast, easy-to-use, specialized search engine See vertical 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 Steve Larsen (born January 26, 1975 in Langley, British Columbia) is a bobsleigher for the Canadian Olympic Team, and participated in the the 2006 Winter Olympics. External links
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, co-founder and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  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."

About Krugle

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 Reachable. When something is addressable, it can be identified and manipulated independently of its surroundings. For example, screen pixels and RAM memory are addressable. Each of the screen's picture elements can be individually turned on and off, and each of the memory's bytes can be  markets and defensible de·fen·si·ble  
adj.
Capable of being defended, protected, or justified: defensible arguments.



de·fen
 competitive advantages. Rustic Canyon Partners has offices in Santa Monica Santa Monica (săn`tə mŏn`ĭkə), city (1990 pop. 86,905), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1886. Tourism and retailing are important, and the city has motion-picture, biotechnology, and software industries. , Silicon Valley and Seattle.
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Publication:Business Wire
Geographic Code:1USA
Date:May 31, 2006
Words:408
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