Exclusive - Spigit, maker of collaborative innovation management software for enterprises, will announce this morning that it has received an equity investment of $10 million from Warburg Pincus. The financing round completes a $20 million investment from the private equity firm, resulting in $26 million in funding overall for Spigit.
The company markets products that allow organizations to tap the collective intelligence of its employees, partners and customers to help them gain insights about their business.
Spigit founder and CEO Paul Pluschkell says the company is on a roll, growing at approximately 300% year-over-year by leveraging platforms like Facebook, SharePoint and mobile operating systems to basically allow innovation to “happen anytime, anywhere”.
According to the Spigit website, its platform is in use by more than 3 million subscribers today.
The $10 million will be invested in “game mechanics, social algorithms, behavioral sciences, and consulting services”, the company says.
Spigit is a purpose built social networking tool used by leading companies to connect their employees, customers and business partners for idea and innovation discovery. Using sophisticated analytics built on advanced mathematics, Spigit takes us beyond information gathering and analyses to real time decision making and meaningful prediction. Spigit’s advanced algorithms and business process allows you to capture and compute all of your employees’ unstructured published data while simultaneously filtering out the noise and discovering intelligence. By employing game...
Warburg Pincus is a private equity firm that, as of 2008, has invested over $29 Billion in more than 600 companies in 30 countries around the world.
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