Total amount raised
$66 Million
Latest funding date
4/1/2021
Location
Mighty Networks has raised funding over five rounds, with the latest being a Series B round involving 11 investors, including lead investor Owl Ventures. The platform offers tools for creating and managing online communities, courses, and memberships, emphasizing high member engagement and mobile accessibility.
Keep reading to explore the intricacies of Mighty Networks' fundraising journey and the investors backing this innovative platform.
What Is Mighty Networks?
Mighty Networks is a private company based in Palo Alto, California, specializing in creating and growing community-powered brands. The platform operates in various sectors, including communities, e-commerce, private social networking, professional networking, and software.
Founded to help creators, entrepreneurs, and organizations build and manage online communities, courses, and memberships, Mighty Networks offers a range of features such as native mobile apps and a strategic framework called Community Design™. The company has an employee count ranging from 101 to 250.
How Much Funding Has Mighty Networks Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: November 2010
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the initial foundation and development of the platform.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: December 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and begin market testing.
- Series A Round
- Amount Raised: USD 5,000,000
- Date: October 2016
- Lead Investors: Sierra Wasatch Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and expand its user base.
- Series A Round
- Amount Raised: USD 11,000,000
- Date: April 2019
- Lead Investors: Intel Capital, Sierra Wasatch Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and increase market penetration.
- Series B Round
- Amount Raised: USD 50,000,000
- Date: April 2021
- Lead Investors: Owl Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund rapid product development and expand into new markets.
Total Amount Raised: USD 66,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Owl Ventures
- Details: Owl Ventures is a venture capital firm that focuses on education technology. They led the Series B funding round for Mighty Networks.
- Investment Focus Areas: Education technology, future of work, career mobility.
- Notable Investments: Byju's, MasterClass, Quizlet.
- Intel Capital
- Details: Intel Capital is the investment arm of Intel Corporation, focusing on technology startups. They are an existing investor in Mighty Networks.
- Investment Focus Areas: Technology startups, software, hardware.
- Notable Investments: Red Hat, VMware, Cloudera.
- Sierra Wasatch Capital
- Details: Sierra Wasatch Capital is a venture capital firm that invests in early-stage technology companies. They led the Series A funding round for Mighty Networks.
- Investment Focus Areas: Technology, software, e-commerce.
- Notable Investments: Not publicly disclosed.
- Ziff Capital Partners
- Details: Ziff Capital Partners is a venture capital firm that invests in technology and media companies. They participated in the Series B funding round for Mighty Networks.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: Cheddar, The Players' Tribune.
- LionTree Partners
- Details: LionTree Partners is a global investment and merchant banking firm focused on media, technology, and telecommunications. They participated in the Series B funding round for Mighty Networks.
- Investment Focus Areas: Media, technology, telecommunications.
- Notable Investments: Snap Inc., Spotify.
What's Next for Mighty Networks?
Mighty Networks stands at the cusp of significant growth opportunities. With a $50 million Series B funding round, the company is poised to expand its product offerings, including new media types and payment options, and to enter new markets. This funding will also enable the platform to support a broader range of creators, from newcomers to established brands, helping them build and monetize their communities.
Future fundraising opportunities appear promising, given the strong investor confidence demonstrated in the recent funding round. As the platform continues to grow, additional rounds could focus on further product development and market expansion. However, Mighty Networks will need to navigate challenges such as competition from other community-building platforms and maintaining scalability and user satisfaction.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Mighty Networks and gather other critical business insights. Sign up for free to start transforming your sales strategy today.
