Mzinga Acquires Prospero, Secures $32.5M in Funding

Mar 04, 2008

Mzinga, a provider of workplace community solutions, announced it has acquired Prospero Technologies, a provider of customer community solutions. Prospero has a client base in the media, entertainment, and publishing sectors, and owns online community properties Talk City and Delphi Forums. Mzinga's software-as-a-service technology platform provides a suite of social media applications, flexible integration options, and enterprise-grade moderation capabilities for control of user-generated content. Using "widget" technology, one or more social media elements may be embedded into a customer's website, while template functionality can be used to create private-label community destination sites. Customers also have the option of crafting their own look and feel, and integrating social media features via API into their webpages or other applications.

Mzinga also announced it has secured $32.5 million in a new round of financing. Mzinga plans to use this new funding to accelerate product development, expand into new market segments, and increase sales and marketing investments. The growth round of funding was led by W Capital Partners, a private equity firm with more than $1.0 billion of committed capital under management. Also participating in the round are institutional investors Bluecrest Capital Finance, LP, GE Equity, and Knowledge Industries, as well as members of the management team.