First Round Capital has joined lead investors Polaris Venture Partners and True Ventures and others in funding FREEjit, an Orange County, CA, stealth startup-so stealth, in fact, that it has no website and there is very little information out there about it yet. Freejit founder Sean Ellis announced First Round's investment in a tweet on Friday.
This blog post by Polaris Venture Partners' Dave Barrett provides some background on FREEjit. Barrett describes founder Ellis as being "widely-known as one of the thought leaders of the freemium model", and says that FREEjit "will address the exploding opportunity created by freemium and trial offers for consumers, prosumers, internet services, content providers and next-generation software companies alike".
It was also announced late last week that First Round had lead a $1.25 million round in UberCab, a San Francisco startup that provides an iPhone app that helps people locate cabs more quickly.
First Round Capital's portfolio now consists of about 90 companies, according to its website, although that number includes some of its exits. An SEC filing discovered last week indicates that it has just raised a new fund of at least $126.4 million. (Josh Kopelman told PE Hub that they are not commenting yet on the new fund, which probably means its still open.)