AdaptiveBlue Finds New Funds
AdaptiveBlue’s name may imply change, but Union Square Ventures likes the company the way it is. That’s what I infer, anyway, from the venture capital firm’s decision to fund AdaptiveBlue. But the amount of money involved remains unknown, so it’s hard to say exactly how fond Union Square Ventures is of its new friend.
AdaptiveBlue is very likeable, though. It’s best known for BlueOrganizer, which the company describes as “a smart-browsing tool for Firefox and Flock.” Further details are available on the corporate site, or from TechCrunch’s Marshall Kirkpatrick. Kirkpatrick also carried (and broke, as far as I can tell) news of AdaptiveBlue’s fresh source of funds.
It looks like Union Square Ventures is one of the best sources a company could hope for – its record indicates that the firm doesn’t mess about. Its “current portfolio investments” include Feedburner and Indeed; the ever-popular del.icio.us is among the firm’s “exited investments.”
Delve a little deeper into Union Square Ventures’s website, and you’ll discover that its partners have, “[o]ver the past 17 years, . . . been directly involved in the development of 40 companies and have, through our prior firms, participated in the launch of over 120 companies.” That all amounts to a pretty impressive track record.
So . . . where will AdaptiveBlue take them? It’s hard to say. A glance at the “Press” section of the AdaptiveBlue site reveals that they’ve gotten plenty of coverage, but their product still doesn’t seem to be widely known. And a few comments following Kirkpatrick’s article amounted to “sounds cool, although I don’t/won’t use it myself.”
Maybe that’s not such a great start. But maybe, with the money from Union Square Ventures, it’s more than enough.