Tuesday, March 4, 2008

Mzinga is the leading provider of business social media solutions secured $32.5 million in a new round of financing

What Company Is Offering:
Mzinga is the leading provider of business social media solutions to drive growth, innovation, and learning. Its combination of highly scalable technology, rich domain expertise, and moderation services enables businesses to harness the collective intelligence of employees, customers, and partners to achieve tangible business results. Marketing, customer service, and human resources professionals deploy Mzinga's "pervasive community" solutions to achieve higher revenues, lower costs, and greater workplace satisfaction.

How Much They Got From VCs:
Mzinga , the leader in workplace and customer community solutions, announced it has secured $32.5 million in a new round of financing. Mzinga plans to use this new funding to accelerate product development in response to increased demand, expand into new market segments, and increase sales and marketing investments.

In support of these goals, a portion of the proceeds is being used to finance Mzinga's recent acquisition of Prospero Technologies, a Massachusetts-based social media provider with a strong client base in the media, entertainment, and publishing sectors. [Please see related press release, Mzinga Acquires Prospero, Solidifying Market Leadership in Business Social Media.]

About VCs:
1.About BlueCrest Capital Finance, L.P.
BlueCrest Capital Finance, L.P., a US based commercial finance company, provides debt financing solutions to development stage companies in a broad range of industry sectors including IT, Communications, Hardware, Software, Semi-Conductor, Electronics, Energy, Medical Device and Life Science. The team, which has been together continuously since 1998, pursues debt transactions in the $1-25 million range and has consummated approximately 800 transactions with total commitments in excess of $1.8 billion.

2.About W Capital Partners
With more than $1 billion of committed capital under management, over 50 completed portfolio transactions, and investments in more than 150 companies, W Capital is the largest firm dedicated exclusively to the acquisition of direct private equity investments in the secondary market.

more at:sit http://www.mzinga.com/

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