KickApps raises another $14M to build social networks

Venture Beat — Tue, 25 Nov 2008 17:48:42 -0500

KickApps, a startup that enables customers to build their own social networks, has raised $14 million in a third round of funding.

As every company in the world tries to add “social” features to their web site, the number of “white label” social network startups has exploded. In April, Ning, perhaps the best-known player in this field, raised another $60 million at a $500 million valuation. So for KickApps, the challenge is two-fold: To stand out in a crowded space, and to convince customers it’s more useful to build their own social sites than to connect to customers via existing networks like Facebook or MySpace.

With its upgrade at the beginning of the year, KickApps added features like a widget to display information from the site, improved analytics and an improved developer platform. The site has landed some high-profile customers since then, including National Geographic, the San Francisco 49ers and John McCain’s presidential campaign (a model of web savviness, to be sure).

The funding was first reported by Private Equity Hub, which cited a regulatory filing saying the New York-based company raised more than $13 million. Looks like that spurred KickApps’ announcement today with the correct amount, and identifying North Atlantic Capital as the lead investor. Existing investors Softbank, Spark Capital, Prism Ventures and Jarl Mohn also participated.

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