Spigit, a Pleasanton, CA-based provider of collaborative innovation management software for the enterprise, has received a $10m equity investment from Warburg Pincus.
This round brings the total amount raised by the company since inception to $26m.
Spigit intends to use the capital to continue to build on its customer base, expand product development and sales and marketing efforts.
Led by CEO and Founder Paul Pluschkell, the company provides collective idea management software, which are designed to connect employees, customers and business partners for innovation and insight discovery. Spigit’s products (SpigitFusion™, SpigitEngage for SharePoint™, and SpigitEngage for Facebook™) incorporate incentives, idea graduation, idea trading and real-time analytics.
Customers include Overstock.com, AT&T, Southwest Airlines, AAA, and Lloyds.