Tuesday, August 18, 2009

Jambool Digs Up $5M For Social Gold

Jambool, a startup started by two ex-Amazon employees, said today that it has raised $5M in a financing round, for the firm's software for handling virtual goods and payments. The funding came from Madrona Venture Group and Bay Partners. The new funding comes on top of an existing, $1M in funding the company received in 2008. Jambool is headed by Vikas Gupta, formerly of Amazon's Payments group, and Reza Hussein, who worked on Amazon Mechanical Turk and order systems.