Gigya Raises $15.3 Million Investment after Delivering 3x Growth
Leader in social infrastructure secures funding from leading firms including Advance Publications, Mayfield Fund, Benchmark Capital, DAG Ventures, and Adobe.
San Francisco, CA (PRWEB) June 11, 2012
Gigya, the leading provider of social infrastructure for business, today announced that it has secured $15.3 Million in funding from Advance Publications, Mayfield Fund, Benchmark Capital, DAG Ventures and Adobe.
The news of Gigya’s new funding comes on the heels of the company’s staggering and sustained growth over the past year. In February, the company eclipsed 500 customers and announced that its technology was reaching more than one billion unique users per month. In 2011, Gigya also introduced three new products to its suite of social infrastructure technology including Social Identity Management, Social Gamification and Ratings & Reviews, all of which have been adopted by lighthouse brand, publisher and ecommerce clients. Additionally, Gigya’s 2011 sales more than tripled year-over-year and the average new deal size nearly doubled.
Gigya is now working with more than 40 percent of the comScore top 100 U.S. web properties and has expanded its presence by deploying its technology on top international properties including the London Evening Standard, The Independent and Goal.com. In order to meet rapidly increasing demand in the European market, Gigya has also opened a new UK headquarters in London.
Gigya provides websites and apps with complete social infrastructure that creates immersive social experiences for users and provides unparalleled customer insights for businesses. The company’s technology enables seamless registration with Social Login, increases traffic and time spent on-site via Social Plugins and Social Gamification and transforms marketing by leveraging permission-based social identity data.
“Gigya is an ideal investment for Advance Publications”, said Andrew Siegel, the group’s senior vice president of strategy and corporate development, which publishes more than 125 publications and digital editions worldwide through Condé Nast Magazines, Conde Nast International, American City Business Journals, Advance Newspapers and others. “Social infrastructure has become a requirement for online businesses and Gigya’s approach of offering everything a site needs to be social has been validated by its continued customer growth. As a Gigya client, we were so impressed with the product suite and how well Gigya is positioned for further success that we jumped at the chance to invest in the company.”
“Facebook’s dominance has firmly established social as the language of the web, and with Gigya, businesses can now interact with their customers in the same rich and personal way,” said Navin Chaddha, managing director of Mayfield Fund. “By offering complete, SaaS-based social infrastructure, Gigya has gained mass adoption and its business has exploded. We are thrilled to be funding such an innovative and flourishing company.”
“Having these stakeholders invest in Gigya is a tremendous show of confidence in our business,” said Patrick Salyer, CEO of Gigya. “I believe this speaks to our revenue performance and near ubiquity on the web. This new round of funding will allow us to meet the demand for our technology and help us expand our product offerings.”
Gigya plans to expand its suite of social infrastructure products to help businesses monetize social engagement, referral traffic and permission-based social data. Already employing 130 people globally, Gigya will also continue expanding its product, sales and client services teams to meet the rapidly increasing demand for its products and services.
Gigya’s mission is to socialize the rest of the web. We provide websites with a complete social infrastructure that creates immersive social experiences for users and provides unparalleled customer insights for businesses.
Gigya equips businesses like ABC, Pepsi and Verizon with a comprehensive solution to socialize their online properties. Our technology enables seamless registration with Social Login, increases traffic and time spent on-site via Social Plugins and Gamification and transforms marketing by leveraging permission-based social identity data.