Socialcast Raises $1.4 Million for Business Social Networking

Authored by Mark Hefflinger on April 7, 2009 - 10:46am.

San Francisco - Socialcast, a developer of Web-based business social networking tools, said that it has secured $1.4 million in its first round of funding, which the company will use to relocate its headquarters from Irvine to San Francisco this summer.

True Ventures led the round with a $1 million investment, and several angel investors also participated.

Om Malik, a venture partner at True Ventures and the founder of GigaOm, will join Socialcast's board.

Founded by Timothy Young, Socialcast has developed a platform that allows businesses to create on-demand corporate social networks.

The company's technology unites traditional intranet features with social networking, as well as a variety of Web feeds and tools.

http://www.socialcast.com