Austin - Small World Labs, a provider of enterprise social media and community building services, has received more than $1 million as part of a first round of financing expected to close in the next 60 days. Participating investors included Clearmeadow Partners.

Founded in 2005, Austin-based Small World Labs provides social media applications for customers including the Dallas Morning News, San Diego Union Tribune, Fox Networks and American Cancer Society.

The company, which says it is already profitable, will use the funds to accelerate business and technology development.

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