Mighty Networks, a Palo Alto, California-based software-as-a-service (SaaS) platform provider, in a recent press release statement, announced raising $11 million in Series A financing round led by Intel Capital and Sierra Wasatch. The Series A funding round was also participated by the company’s existing investors: First Round Capital, Floodgate Partners, BBG Ventures, Lucas Venture Group, Dave Welch, and Mighty Networks Founder & CEO Gina Bianchini.
The Palo Alto-based Mighty Networks, with its platform offering, that employs proprietary algorithms and smart technology, links the network’s most relevant people with others by location, interests, and topics, as well as through groups, events, and online courses, increasing the individual brand value with each new member addition.
Speaking on this context, Mighty Networks CEO & Founder Gina Bianchini, said, “There are over 360 million ‘creators with a purpose’ today bringing together their fans and followers in deeper ways than what social media provides. They are curating amazing community experiences, facilitating relevant content, and sharing expertise––services that are so valuable that they can charge for them. With a Mighty Network, we are giving creators a way to streamline their business and avoid the risk and cost of custom development.”
Wendell Brooks, senior vice president of Intel Corporation and president of Intel Capital, said, “Given the rapid growth and emerging opportunity around Experiential Commerce, we’re pleased to support Mighty Networks in realizing their vision. We’re enthusiastic about the ways machine learning and artificial intelligence can be applied to help brands and businesses make increasingly better, well-informed decisions more quickly as they market, sell, and deliver new combinations of digital services.”