"NewsGator, a maker of hosted and on-premise social computing software for companies, has closed a US$10 million round of funding, the company announced Monday.
Masthead Venture Partners, Mobius Venture Capital and Vista Ventures participated in the round of funding. All three companies had previously invested in NewsGator.
NewsGator initially focused on the RSS market and has since broadened its focus to enterprise social networking with its Social Sites product.
Social Sites, now in version 2.5, is designed to provide a Facebook-like experience in the workplace to improve communication and collaboration among employees. It is specifically designed as a complement to Microsoft's SharePoint Server.
The Edelman public relations firm was among the large companies that became NewsGator customers in late 2008, along with banks, pharmaceuticals and manufacturers.
The fourth quarter of 2008 was the best in terms of revenue in NewsGator's five-year history, the company said. NewsGator's competitors include SocialText, Jive Software, Central Desktop, Telligent and Atlassian, as well as bigger players such as IBM and Google."
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