BSG Alliance, a software-as-a-service company, said Tuesday that it raised more than $50 million in private equity financing to expand its business.
The Austin, Texas, company provides on-demand, Web 2.0 applications—like blogging, tagging, and RSS feeds—for large businesses. The company said it also helps companies identify and evaluate their technology strategies.
The investment was led by Oak Investment Partners, with continued participation from previous investors Foundation Capital, Humer Winblad Venture Partners, and Silicon Valley Bank.