Following its successful release for Facebook analytics, Spigit now shows a strong foothold by way off $10 million in equity financing. This second augmentation beefs up the enterprise’s financial funds to $20 million and completes the investment from Walburg Pincus. This sum will support Spigit in expanding their customer base, improving its product development and invest in its sales and aggressive marketing efforts.
CEO and Founder of Spigit, Paul Pluschkell relays the company’s vision of growth and how this monetary aid will support their comeback “Spigit continues to lead the way for social business in innovation and idea management,” he says. ”We are growing at approximately 300% year over year by leveraging the most powerful platforms including SharePoint, Facebook and mobile devices to allow innovation to happen anytime, anywhere. With our new round of funding we continue to extract value from the edge to the core by investing in game mechanics, social algorithms, behavioral sciences, and consulting services.”
Spigit was born in 2007 and has shown great potential since then, leveraging the colossal social aptitude accessible to them through their employees, suppliers, and clients. And thanks to Zuckerberg’s billion-dollar social network, Spigit’s most recent release landed with a bang via SpigitEngage for Facebook. Other products launched by the company include SpigitFusion and SpigitEngage for Sharepoint, which is a prominent feature in its toolkit.
Spigit’s boasts a line-up of key industry players as customers. In fact, 20% of the Fortune 10 companies and 15% of the Fortune 500 such as Apple, Walmart, eBay, Southwest, AAA and IBM are part of their portfolio. For this reason, the company was recently recognized and elected as one of “Hot 100″ software companies by JMP Securities’ 2011. Spigit is a leader in idea management and this is the very tool that they are presently utilizing to penetrate one of the largest arm of the tech community today, the social media.