Nexgate (formerly known as Social iQ Networks), a San Francisco, CA-based provider of social infrastructure governance solutions for the enterprise, raised $3.5m in Series A financing.
The round was led by Sierra Ventures. In conjunction with the funding, Mark Fernandes, Managing Director, Sierra Ventures, joined Nexgate’s board of directors.
The company plans to use the funds to accelerate technology innovation and expand commercialization efforts.
Launched in 2012 by Devin Redmond, CEO, Nexgate provides a SaaS-based Enterprise suite for discovering, protecting, and ensuring compliance for all of the social accounts associated with a given company, brand or brands.
It is used by over a dozen multi-national and enterprise companies in Financial Services, Pharmaceuticals, Internet Security, Manufacturing, Media & Entertainment, and Retail fields.