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.
“Gigya is an ideal investment for Advance Publications”, said Andrew Siegel [pictured, left], 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 [pictured, center], 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 [pictured, right], 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.” More...