A $50M Series B fundraising round has been finalized, according to Mighty Networks, the leading SaaS platform for brands and creators to launch and expand communities. Owl Ventures is the lead investor in the round, while Ziff Capital Partners, LionTree Partners, Intel Capital, Marie Forleo, Gretchen Rubin, Dan Rosensweig, Reid Hoffman, BBG Ventures, Lucas Venture Group, and Great Oaks Venture Capital are also participating as per venturesann azevedotechcrunch.
With the help of community subscriptions, gatherings, and live online courses, Mighty Networks is creating a new middle class of creators. Renowned yoga instructor Adriene Mishler, XPrize and Singularity University founder Peter Diamandis, best-selling novelist Luvvie Ajayi Jones, artist Amanda Seales, and Girlboss founder Sophia Amoruso are a few well-known innovators that use Mighty Networks. The TED summit, the clothing brand Oiselle, and the wellbeing scheduling tool MINDBODY are examples of well-known companies that use Mighty Networks content creation services.
The Business Plan, a unique product from Mighty Networks, enables new creators to easily start with digital subscriptions and payments by allowing them to make use of community memberships, events, and live online courses. It joins Mighty Pro, where well-known companies, groups, and prosperous content producers are swarming to Mighty Networks’ comprehensive offering based on their own branded iOS, iPad, and Android applications available in multiple app platforms such as the Apple App and Google Play Stores.
According to Gina Bianchini, founder and CEO of Mighty Networks, “Content alone will kill the creative economy.” The creators must control their online community where users may interact and benefit from events, subscriptions, and courses to change and grow. We have the chance to open up new kinds of ownership and a vibrant creator middle class as more artists, companies, and coaches make this move SEO Company.
Before ever seeing the startup, Amit Patel, Managing Director of Owl Ventures, the largest venture fund specifically focused on education technology, remarked, “We were pleased with Mighty Networks.” No business in my field has more devoted, passionate customers. We were inspired to help a million more creators enter the middle class after seeing first-hand how artists on a Mighty Network could effectively launch paid communities and online courses with as few as 30 members.
With this additional funding, the business plans to expand into new areas and support the quick creation of new products across all media types and payment methods. With this additional funding, Mighty Networks has now raised a total of $67M.