Innovation Mgt Platform Spigit Picks Up US$ 10 million Funding

By Chelsi Nakano | Published Oct 20, 2009

Innovation Mgt Platform Spigit Picks Up US$ 10 million Funding It seems Spigit (news, site) is off to a good start. As "your center for innovation" the social networking solution recently arrived on the scene with a mission to provide SharePoint with cutting edge management.

Though their offering is nothing new for the enterprise, the company still managed to score US$10 million in equity investment dollars from Warburg Pincus, a global private equity firm. Spigit will reportedly use the money to step up its customer base via the expansion of its product development, and sales and marketing efforts.

"Spigit's […] software has helped change the face of innovation in the enterprise by creating an environment where innovation can become part of the corporate culture and novel ideas can be developed into actionable intelligence," said Patrick Severson, a Managing Director at Warburg Pincus, who is scheduled to join the Spigit board of directors at Warburg Pincus.

Skeptical? The company is holding up a booth at this year's Enterprise 2.0 conference in San Francisco in November. Make your way over to our events list for more details, or register for a free demonstration here if you can't make it to the City by the Bay.