Mighty Networks: 50 Million Dollar Moment
On April 27th 2021, an announcement surrounding a Mighty Networks funding success, circulated. Mighty Networks, a fellow community management platform, secured capital of $50 million, via a round led by Owl Ventures. Founded by Gina Bianchini in 2010, Mighty Networks seeks to offer creators a space to kickstart their very own branded communities. For Ugenie, and other innovators in the community platform industry, the news is exciting! We give our adulation and congratulations to Mighty Networks for this wonderful achievement, and for paving the way for similar startups in the community platform space, to seek investment with belief in their offering.
Mighty Networks aim to give content creators more control over their digital audiences, to offset the effects of inequalities of attention, in creative spaces.
They envision that their ‘middle-class creators’ will seize control of their destinies, by leveraging the authenticity of a personalised platform.
The promise of an ad-free environment, and ongoing opportunities to convert and retain membership subscriptions, is surely tempting.
Like Ugenie, Mighty Networks understand the growing difficulties of digital noise, when distributing content, and establishing an online presence.
Ugenie too provide targeted engagement and dedicated hubs, for a community leader to realise the social and monetizable benefits of community. Both Ugenie and Mighty Networks hope to cater for those community leaders with large ambitions to provide value to loyal members. Further, Mighty Networks herald desire and curiosity in a community leader. That is, the desire to bring individuals together, and the curiosity to continually improve the community’s fabric. Although Ugenie and Mighty Networks offer a similar product, and both seek to service membership and subscription (M&S) businesses, Ugenie’s proposition is different in a variety of ways. For greater organisation, structure, and cohesiveness within a larger team, Ugenie provides an admin dashboard. Also, a community leader benefits from hands-on and humanistic support, both in the process of setting up, and when managing uHubs for their M&S business. Ugenie’s integration of uHubs to a community leader’s website, member type navigation, and built-in email blasts, are other distinguishing features of Ugenie to Mighty Networks, further showing the phenomenal variation of choice within the community platform industry. By nature, exclusive hubs are more discreet than public forms of social media. Mighty Networks’ raise of $50 million highlights growing demands in this industry. At Ugenie, we hope to witness more developments from Mighty Networks, and similar community platform providers, to continue the trend of private hubs! If you are a community leader, or in the business of community, try a Ugenie hub, for free, for 30 days: https://www.ugenie.io/trial