Socialtext Raises $3 Million Toward $6.5 Million Series C Funding

Posted Jun 5, 2007

Socialtext[1] is a Palo Alto, Calif. based company that builds wiki enterprise products. This type of product is especially useful for those who do not have the time or knowledge to set-up their own wiki. It is also useful for those who have become fed up with sending attachments back-and-forth through e-mail. I know a couple of start-ups that interact via wikis to report daily progress.

Socialtext announced that they have raised $3 million towards a desired $6.5 million Series C funding amount. Some of the previous investors include Draper Fisher Jurvetson[2], SAP[3], Omidyar Network[4], Mark Pincus (CEO of[5]), and Reid Hoffman (Chairman of LinkedIn[6]). Jimmy Wales, the founder of Wikipedia[7] serves as a Board member for Socialtext.

Ross Mayfield, Peter Kaminski, and Adina Levin are founders of the company. A product tour is available at:[8]. The Socialtext blog is available at:[9].

In November 2006, Google acquired Jotspot, a similar wiki concept[9].  Wetpaint, a wiki-builder website raised $9.5 million in funding[10] around January 2007 as well.  Wikis are a strong market and millions of dollars are constantly being plugged in.

[8] Product Tour
[9] Pulse 2.0: Google’s Gone Wiki
[10] Pulse 2.0: Wiki-Builder Website, Wetpaint Welcomes $9.5M Funding