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Web 2.0 - Tuesday, March 4, 2008

White Label SocNet Builder Mzinga Raises $32.5M; Buys Prospero

Burlington, MA's Mzinga has raised $32.5M led by W Capital Partner with Bluecrest Capital Finance, GE Equity, Knowledge Industries and company management. Mzinga says that part of the financing was used to acquire Littleton, MA-based Prospero Technologies.

While we imagine that most of our readers have not heard of Mzinga, they make a big statement. The company says that it did more than $30M in annual revenues and has more than 125 customers. Customers include ABC, AOL, ESPN, CBS.com, iVillage, Chevron, Johnson & Johnson, Prudential Financial, Deutsche Post World Net, and United Nations Development Programme. These companies use Mzinga's intranet and wiki tools.

Mzinga actually has a 21 year history in business. As KnowledgePlanet, it created a Learning Management System in 1994 and brought it online in 1996. In 2002 it created the Firefly Simulation Developer tool, which was a simulation-based learning platform. The Mzinga brand was formed in August 2007 after the merger of Woburn-based Shared Insights US and Pennsylvania’s KnowledgePlanet.

Prospero is an old line online business that operates community sites like Talk City and Delphi Forums but mainly has been running private label communities/forums for companies. Prospero was owned by Mallory Ventures.

CEO Barry Libert Wrote a Book Called We Are Smarter Than Me

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