SocialText gets a new CEO and Series C funding

Posted by Matt Asay

Open-source wiki company SocialText just pulled down a Series C round of funding ($9.5 million from Draper Fisher Jurveston, Omidyar Network, SAP Ventures, Intel Capital, plus a few angel investors). It also got a new CEO, Eugene Lee.

Congratulations to Ross Mayfield and the SocialText team. My one question in this is why no new investors joined in the round. If I remember right, the investors above are the same who invested in the last round. This either means that the Series C round was so hot that the existing investors didn't want to share it, or that SocialText was having difficulty finding new investors.

I hope it's the former, as the wiki/collaboration world keeps heating up and SocialText has been one of the leaders.

Topics:: Industry news,; Startups

Tags:: SocialText,; wiki,; venture funding,; open source

Bookmark:: Digg; Del.icio.us; Reddit

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About The Open Road
Matt Asay brings a decade of in-the-trenches open-source business and legal experience to the Open Road, with an emphasis on emerging open-source business strategies and opportunities. Matt is general manager of the Americas division and vice president of business development at Alfresco, a company that develops open-source software for content management. Disclosure.

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