Pleasanton, CA-based Spigit, a provider of a management platform for the enterprise, has received a $10m equity investment from Warburg Pincus, a global private equity firm.
The funds will be used to continue to build on its strong customer base, expanding its product development, and sales and marketing efforts.
Commenting on the funding, Paul Pluschkell, CEO and Founder of Spigit, said: “We are very excited to have Warburg Pincus on board as we work to position Spigit for expansion on a global scale.
“As a worldwide leader in identifying and supporting the growth of exceptional businesses, Warburg Pincus’ investment is an important milestone in Spigit’s growth and development. We look forward to utilizing both the funding and the valuable expertise of Warburg Pincus to grow our market share and meet increasing customer demand”.
Patrick Severson, a Managing Director at Warburg Pincus, will join the Spigit board of directors along with Vishnu Menon, a Principal at Warburg Pincus.