Gina Biachinin s Mighty Networks scores $50M to help creators and brands grow communities bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.
Mighty Networks raises $50M to build a creator economy for the masses
Mighty Networks, a platform designed to give creators and brands a dedicated place to start and grow communities, has closed on $50 million in a Series B funding round led by Owl Ventures.
Ziff Capital Partners and LionTree Partners also participated in the financing, along with existing backers Intel Capital, Marie Forleo, Gretchen Rubin, Dan Rosensweig, Reid Hoffman, BBG Ventures and Lucas Venture Group. The investment brings Palo Alto-based Mighty Networks’ total raised since its 2017 inception to $67 million.
Mighty Networks founder and CEO Gina Bianchini who started the company with Tim Herby and Thomas Aaron is no stranger to building nurturing environments for community building. Previously, she was the CEO and co-founder of Ning, where she led the company’s rapid growth to three million Ning Networks created and about 100 million users around the world in three years.
Mighty Networks, a Palo Alto, Calif.-based SaaS platform for creators and brands to start and grow communities, closed a $50M Series B funding round.
The round was led by Owl Ventures with Ziff Capital Partners and LionTree Partners joining existing investors Intel Capital, Marie Forleo, Gretchen Rubin, Dan Rosensweig, Reid Hoffman, BBG Ventures, Lucas Venture Group, and Great Oaks Venture Capital.
The company will use this new capital to fund rapid product development across media types, payment options, and movement into new markets.
Founded by Gina Bianchini, who was the CEO and co-founder of Ning, Mighty Networks is a SaaS platform for creators and brands to start and grow communities they own. It enables new creators to get started with memberships, events, and live online courses and established brands, organizations, and already successful creators to level up their business on their own branded iOS, iPad, and Android apps.
Axios Pro Rata
You re invited: Axios tomorrow at 12:30pm ET hosts a virtual event on climate action via the private sector, including conversations with Patagonia CEO Ryan Gellert, Ceres CEO Mindy Lubber and Salesforce sustainability head Patrick Flynn.
Speaking of climate: Check out the latest Axios Re:Cap pod, talking to Norwegian Prime Minister Erna Solberg about Biden s climate conundrum.
Illustration: Aïda Amer/Axios
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