SocialText Gains $4.5M

Palo Alto-based SocialText, a developer of enterprise social networking tools, has now raised $4.5M out of $5.0M of an equity funding round, according to a regulatory filing. Source or details of the funding were not disclosed. SocialText has previously received funding from Draper Fisher Jurvetson and others; DFJ's Tim Draper, Joi Ito, and Julie Farris remain on the firm's board. More information »