The firm will use the cash to increase its sales and marketing investments and strengthen its overall financial position.

Mzinga’s chairman and CEO, Barry Libet (pictured), said: “Our mission is to become the unequivocal leader in the enterprise social software and analytics market. This additional funding will help us take advantage of the improvements we are seeing in the general corporate markets by bringing new technologies and services to market that transform the way businesses operate — ultimately enabling them to more effectively capture intellectual capital, make better decisions, and innovate faster.”

Investors from the first round W Capital Partners and Shared Capital Partners were joined by Acadia Woods Partners and BlueCrest Venture Finance Master Fund in the second round.