Spigit Gets $10 Million for Business Social Network Platform

Authored by Mark Hefflinger on October 15, 2009 - 7:39am.

Pleasanton, Calif. - Spigit, the provider of a social networking platform used internally by companies, announced on Thursday that it has received a $10 million equity investment from Warburg Pincus.

Pleasanton, Calif.-based Spigit's platform integrates social collaboration with traditional workflow and analytics, "expanding companies' sources of innovation and reducing time-to-completion for good ideas."

The company will use the new funds to expand product development, and for sales and marketing efforts.

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http://www.spigit.com