September 30, 2005 8:36 AM PDT

Socialtext lands SAP investment

Socialtext announced on Friday an $850,000 investment from business software giant SAP.

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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