Idea Management Company Spigit Raises $10 Million

Posted Mar 16, 2011

Spigit is an innovation management software company that has raised $10 million in equity from Warburg Pincus. This round of funding completes a $20 million investment round Warburg. This gives Spigit a total of $26 million in funding.

Spigit’s platform is intended for enterprise customers to collect intelligence from employees, customers, and partners. This way companies can create strategies on how to perform better.

Paul Pluschkell, founder and CEO, said that the company is growing at 300% year-over-year. Spigit is currently being used by over 3 million subscribers. The company plans on using the funding to invest in social algorithms, consulting services, and behavioral sciences.

[TechCrunch]