September 30, 2005 8:36 AM PDT
Socialtext lands SAP investment
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Wiki software developer Socialtext received the investment from the German company's venture arm, SAP Ventures, as part of its second round of funding. The round raised a total of $4 million, with participation from Draper Fisher Jurvetson, Omidyar Network and University Venture Fund as well.
"This is a fantastic validation of (the) wiki category of enterprise software, something practically unthinkable three years ago," Ross Mayfield, Socialtext's chief executive, said in a statement.
Wikis are software applications that serve as online collaborative authoring systems. People can update, delete and share information online with a group of individuals simultaneously, rather than rely on a mass e-mail and await replies.
Companies are beginning to use the technology in a corporate environment, with such players as Nokia and Symantec giving Socialtext a spin for group collaboration. Palo Alto, Calif.-based Socialtext said it has 200 business customers.
JotSpot, a start-up founded by Joe Kraus, who also co-founded Excite, is another notable player in the wiki software market.
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