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Lithium Technologies Raises $18m

January 11 2010

Social networking solutions firm Lithium Technologies has raised $18m in Series C equity funding, which it says it will use to sustain current growth rates.

Lyle FongLithium provides 'Social Customer Relationship Management' (Social CRM) solutions, to enable companies to create and manage their own social customer networks, and focus on conversations across the social web.

Last year, the firm launched Lithium Insights; a set of analytics to measure and benchmark the 'health' of online communities.

The latest funding has been provided by new investors DAG Ventures and Tenaya Capital and existing investors Benchmark Capital, Emergence Capital and Shasta Ventures - each of which invested in a $12m Series B financing round in June 2008.

'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, while continuing to generate multi-million dollar returns for our customers,' stated Lithium founder and CEO Lyle Fong.

The Emeryville, CA-based firm is online at: www.lithium.com .

All articles 2006-22 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.

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