Lithium bags $18m for customer community push

US— Online community builder Lithium Technologies has snared $18m in financing to fund growth of its social network platform, which is already used by brands such as AT&T, Best Buy, Barnes & Noble and Sony PlayStation.

The company has developed what it calls a “Social CRM Suite” encompassing forums and blogs allowing customers to contribute and companies to interact and source new ideas, feedback and insights.

DAG Ventures and Tenaya Capital joined existing investors Benchmark Capital, Emergence Capital and Shasta Ventures in the financing round – the trio having previously contributed to Lithium’s $12m financing round in June 2008.

CEO Lyle Fong said the latest investment would provide the company with “a tremendous lift in to 2010 and beyond”.

“This is an exciting moment for Lithium as we will now use these resources and momentum to be even more aggressive – further extending our leadership in Social CRM and customer communities,” Fong added.

We hope you enjoyed this article.
Research Live is published by MRS.

The Market Research Society (MRS) exists to promote and protect the research sector, showcasing how research delivers impact for businesses and government.

Members of MRS enjoy many benefits including tailoured policy guidance, discounts on training and conferences, and access to member-only content.

For example, there's an archive of winning case studies from over a decade of MRS Awards.

Find out more about the benefits of joining MRS here.

0 Comments


Display name

Email

Join the discussion

Newsletter
Stay connected with the latest insights and trends...
Sign Up
Latest From MRS

Our latest training courses

Our new 2025 training programme is now launched as part of the development offered within the MRS Global Insight Academy

See all training

Specialist conferences

Our one-day conferences cover topics including CX and UX, Semiotics, B2B, Finance, AI and Leaders' Forums.

See all conferences

MRS reports on AI

MRS has published a three-part series on how generative AI is impacting the research sector, including synthetic respondents and challenges to adoption.

See the reports

Progress faster...
with MRS 
membership

Mentoring

CPD/recognition

Webinars

Codeline

Discounts