Austin – Socialware, the provider of a corporate social networking platform, announced on Wednesday that it has secured $3 million in new funding, from previous backers including Floodgate, G-51 Capital and Silverton Partners.
Austin-based Socialware counts nearly 100 corporate customers for its products, including New York Life.
The platform enables firms within regulated industries, like financial services, to interact on social networks, helping to navigate record-keeping, suitability and supervision challenges.
Socialware will use the new funds for additional product development and marketing.
Austin, Texas - Socialware, a stealth-mode start-up developing social networking technology, has raised $1.5 million of a planned $1.7 million round of venture capital financing, PaidContent reported, citing an SEC filing.
While investor information was not disclosed, a principal with Silverton Partners is on the company’s board.
Austin-based Socialware is reportedly developing a social media management and analysis platform for businesses.