Forget
MySpace and Facebook, sometimes companies such as JPMorgan Chase, Lockheed
Martin, and Deloitte want to get in on the social networking craze.
Enter
corporate social networking company SelectMinds, which on Tuesday announced a
Series A funding round of $5.5 million from Bessemer Venture Partners. Bessemer has invested in
other communications and social media companies such as Skype, LinkedIn, Wikia,
and Revver.
New
York-based SelectMinds “helps organizations become better connected and
strengthen relationships among employees, alumni, women and other key
constituencies,” said Bessemer Venture Partners Managing Partner Robert Goodman
in a statement. Mr. Goodman will also join the company’s board of directors.
SelectMinds,
founded in 2000, gears its software toward mid-to-large size organizations such as global 2000 companies, and focuses on what a company spokesperson described as the "employee life cycle." That is, on hiring and
retaining employees and institutional knowledge as employees reach different
stages in their lives.
WomenConnect, one of the networks created by
SelectMinds, helps companies stay in contact with female employees when they’re
out on maternity leave, for example. EmployeeConnect is designed for all of the
workers in an organization.
Employees
of companies that use SelectMinds’ software can build profiles, communicate
through emails and forums, collaborate to develop new ideas, post and respond
to classified ads, and search and apply for jobs in or beyond the company
network.
Last week
The Dow Chemical Company signed up as a SelectMinds client. Dow will use the
social networking platform to create networks for employees, alumni, and retirees.
Several
other companies focus on social networking for the enterprise, including Foster
City, California-based Visible Path and San Francisco-based Leverage Software.