Series A, February 2007: From PICO Holdings and Management Team. Currently seeking $4 million for Series B.
Competitors
No direct competitors. Secondary competitors include Idea Crossing, Idea Wicket.
Product Description
Spigit is a purpose built social networking tool used by leading companies to connect their employees, customers and business partners for idea and innovation discovery. Using sophisticated analytics built on advanced mathematics, Spigit takes us beyond information gathering and analyses to real time decision making and meaningful prediction. Spigit's advanced algorithms and business process allows you to capture and compute all of your employees' unstructured published data while simultaneously filtering out the noise and discovering intelligence. By employing game theory, currency, idea trading, rewards, and rich dynamic reporting Spigit allows you to get the most out of your key assets.
Market Opportunity
Opportunity exists in any segment where social networking platforms can be used to capture contributions to derive and drive results. These include Enterprise Innovation, Customer Feedback, Employee Evaluation, Academic and Institutional Assessment, Political Consensus and Candidate Evaluation, Non-Profit Project Evaluation, Entrepreneurship and Business Development.
DEMO Says
As social networks proliferate and amass large memberships, they seem to hit a point of diminishing return. There is, in effect, more crowd and less wisdom. Not because social networks don’t have smart people, but because the networks don’t effectively filter noise to deliver knowledge. spigit changes that, adding game theory, simulation engine, and smart algorithms to tap the wisdom of the crowd to cultivate and reward smart ideas and those who advocate for them. As a social platform on the public Internet, spigit will be a fascinating experiment. As a tool for idea vetting in large enterprises, it is invaluable.