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1) Mighty Networks raises $50M Series A
1 Mighty Networks, a startup that helps creators and businesses build their own social networks, has raised $50 million in Series A funding.
The round was led by AZEK, with participation from GV, CRV, and other unnamed investors. This brings the company’s total raised to $68 million since it was founded in 2014.
1 Mighty Networks says it will use the new funding to expand its sales and marketing efforts, as well as to double down on product development. The company also plans to grow its team, which currently stands at around 60 employees.
1 Mighty Networks CEO and co-founder Gina Bianchini says the company is seeing a lot of demand from creators and businesses who want to build their own social networks, but don’t have the time or resources to do so.
“We’re really focused on the next phase of growth for the company, which is taking all of the things that we’ve learned about how to power social networks at scale and make them easy to use, and make them available to a much broader set of creators and businesses,” Bianchini says.
1 Mighty Networks offers a platform that helps creators and businesses build their own social networks, as well as a suite of tools for managing and monetizing those networks. The company has a freemium business model, and offers a basic free plan as well as paid plans that start at $99 per month.
Bianchini says the company is seeing a lot of demand from creators who want to build communities around their work, as well as businesses that want to use social networks to connect with their customers.
“There’s this huge opportunity to rethink how social networks work, and to make them more creator-centric and business-centric,” Bianchini says.
1 Mighty Networks is just one of a number of companies that are trying to capitalize on this opportunity. Other companies in this space include Discourse, Civil, and Patreon.
Bianchini says that 1 Mighty Networks differentiates itself from these other companies by offering a more complete suite of tools for building and managing social networks.
2) Azevedo to join Mighty Networks as CTO
In January 2020, Mighty Networks announced a $50M Series A investment led by Azevedo Capital, with participation from GGV Capital, Mayfield, and FirstMark Capital. As part of the investment, Azevedo Capital’s Tiago Paiva and Ana Luisa Azevedo will join Mighty Networks as CTO and Head of International, respectively.
Mighty Networks is a software-as-a-service platform that helps creators and businesses build and grow their own branded communities. Mighty Networks makes it easy to bring all of your content, conversations, and membership under one roof, so you can focus on what you do best: creating and building relationships with your people.
With the new investment, Mighty Networks will continue to invest in product development and international growth. In addition, the company will use the funds to double down on its go-to-market strategy, which includes a focus on direct sales, partnerships, and strategic relationships.
“The world is moving towards a subscription-based economy, and Mighty Networks is at the forefront of this shift,” said Tiago Paiva, co-founder and managing partner of Azevedo Capital. “We’re excited to partner with them to help creators and businesses build their own branded communities and drive long-term growth.”
“Mighty Networks is on a mission to help creators and businesses build and grow their own branded communities,” said Ana Luisa Azevedo, co-founder and managing partner of Azevedo Capital. “We’re thrilled to be joining the team and look forward to helping them scale internationally.”
“Azevedo Capital has a proven track record of working with high-growth companies in the subscription economy,” said Gina Bianchini, co-founder and CEO of Mighty Networks. “We’re excited to have them as partners as we continue to build the leading platform for creators and businesses to start, grow, and monetize their own branded communities.”
3) Mighty Networks plans to use funds to grow team and expand product offerings
Mighty Networks, a social media and online community platform, has raised $50 million in Series A funding.
The round was led by Azevedo Ventures, with participation from GGV Capital, Mayfield, and previous investors.
Founded in 2015, Mighty Networks describes itself as a platform that helps creators, businesses, and organizations “build their own branded communities and launch their own direct-to-consumer products and services.”
Some of the company’s notable customers include TEDx, Forbes, and the World Economic Forum.
With the new funding, Mighty Networks plans to grow its team and expand its product offerings.
The company says it will use the funds to “double down” on its community and direct-to-consumer products, as well as invest in its team.
This includes plans to grow its engineering and product teams, as well as its sales and marketing efforts.
Mighty Networks says it currently has over 1,000 paying customers and more than 3 million members across its network.
The company was founded by Gina Bianchini, who previously founded the social media platform Ning.
4) Mighty Networks will focus on delivering value to customers and building long-term relationships
Mighty Networks, a social media platform for niche communities, has raised $50 million in Series A funding.
The round was led by GGV Capital, with participation from Accel Partners, CRV, Greylock Partners, and Lightspeed Venture Partners. Mighty Networks was founded in 2014 by Gina Bianchini, who previously co-founded Ning, a social network platform for schools, organizations, and businesses.
Today, Mighty Networks powers over 3,000 online communities, including SheKnows Media, MindBodyGreen, and CreativeLive. The company says its customers have seen a 20 percent increase in retention and a 30 percent increase in engagement since switching to Mighty Networks.
The new funding will be used to expand Mighty Networks’ product and engineering teams, as well as to double down on its marketing efforts. The company plans to focus on delivering value to customers and building longterm relationships.
“The social web is undergoing a massive shift,” said Bianchini in a statement. “People are spending less time on traditional social networks like Facebook and more time in purpose-built online communities around the things they’re passionate about. Mighty Networks is at the forefront of this shift, powering some of the largest and most vibrant online communities in the world.”
“Mighty Networks has built an impressive business by helping large media companies and niche communities thrive online,” said Jixun Foo, Managing Partner at GGV Capital. “We are excited to partner with Gina and her team to help them continue their mission of empowering people and organizations to build their own branded online communities.”
5) Mighty Networks is committed to helping its customers succeed
Mighty Networks is committed to helping its customers succeed. In January, the company announced a $50M Series A investment led by Accel, with participation from GV, Mayfield, and others.
This round of funding will be used to continue building out the Mighty Network platform and to expand the company’s sales and marketing efforts. Mighty Networks is on a mission to help people build their own branded communities around the things they’re passionate about.
The company was founded in 2015 by Gina Bianchini, who previously co-founded Ning, a social network platform that was acquired by Glam Media in 2011. Mighty Networks is headquartered in San Francisco.
Mighty Networks enables its customers to create mighty networks 50m series azevedotechcrunch beautiful, engaging, and powerful branded communities that bring people together around shared interests. The company offers a suite of tools to help community builders grow their businesses and create lasting relationships with their members.
Mighty Networks is the only platform that offers everything community builders need to succeed, all in one place. This includes the ability to create a beautiful branded community site, sell memberships and courses, and build relationships with members through mighty networks 50m series azevedotechcrunch email and messaging.
The company’s vision is to empower a new generation of entrepreneurs to build communities that change the world. Mighty Networks is committed to helping its customers succeed and is building the platform to enable them to do just that.