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This article was published on March 21, 2012

    Spigit raises $15.2 million in Series E funding for ‘social innovation software’

    Spigit raises $15.2 million in Series E funding for ‘social innovation software’ Image by: James Steidl
    Robin Wauters
    Story by

    Robin Wauters

    Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family a Robin Wauters is the European Editor of The Next Web. He describes himself as a hopeless cyberflâneur, a lover of startups, his family and Belgian beer. If you'd like to know more about Robin, head on over to robinwauters.com or follow him on Twitter.

    Spigit, which offers software that enables organizations to tap the collective intelligence of their employees and others to make and drive business decisions, has scored another $15.2 million in a Series E financing round.

    The capital injection comes from private equity firm Warburg Pincus, an existing investor, and will be used to boost sales and marketing efforts for Spigit’s ‘crowd innovation software’ and related services, and to hire more people.

    All in all, Spigit has now raised over $41 million since its founding in 2007.

    Spigit says it has doubled its client base in 2011 compared to 2010, adding 100 new enterprise customers. Its solutions are now in use by over 5 million of its customers’ employees, the company claims.

    Its client reference list includes companies such as AAA, Overstock.com, US Bank, City of New York and Estee Lauder.