CrunchFund announced its investment in Austin-based Socialware in an extension to a $7 million venture capital round.
Michael Arrington, founder of TechCrunch, created CrunchFund along with Patrick Gallagher and MG Siegler, to invest in early stage startups.
Socialware, which was founded in 2008 and has raised $14 million, is a mature company with 50 employees and 125 customers, according to this story in the Austin American-Statesman.
But the investors reported they see potential in Socialware’s business. The company provides software and services to businesses that allow their employees to post to social networks like Facebook, LinkedIn and Twitter.
Other investors in Socialware include Floodgate, G-51 Capital, Morgan Stanley Expansion Capital and Silverton Partners.