Mighty Networks, the US-based developer of a community-building software platform, completed a $50m series B round yesterday featuring Intel Capital, the corporate venturing subsidiary of semiconductor technology producer Intel.
Owl Ventures led the round, which included fellow venture capital firms Ziff Capital Partners, BBG Ventures, Lucas Venture Group and Great Oaks Venture Capital, investment firm LionTree Partners and private investors Marie Forleo, Gretchen Rubin, Dan Rosensweig and Reid Hoffman.
Mighty Networks has built a software platform that helps consumer brands and content creators build audiences and secure paid membership subscriptions, allowing users to create branded websites and mobile apps as well as host online courses. The capital will finance product development and an expansion into new markets.
The company has raised $67m since it was founded in 2017. Intel Capital and VC firm Sierra Wasatch Capital co-led its $11m series A round in April 2019.
BBG Ventures, First Round Capital, Floodgate Fund, Lucas Venture Group, Dave Welch and Gina Bianchini also took part in the series A round. All of them bar Bianchini were described as existing investors.