Sara Gates' online tech community Wisegate banks more funding
Jun 17, 2014
Austin Business Journal
Wisegate Inc., which brings together problem-solving technology professionals online, reported raising a $1 million financing.
The Austin-based company collected the capital from 26 investors, according to a Monday filing with the U.S. Securities and Exchange Commission.
Wisegate, which was founded in 2007 as CDG Software Inc., operates an online community designed to enable information technology workers to exchange ideas and solve problems. It generates revenue from $3,000 annual memberships, CEO Sara Gates has said. She declined to disclose the specific number of members, except to say it’s in the thousands.
In May 2013, Wisegate reported raising $2.8 million of a planned $3.4 million financing from 23 investors. In 2011, it raised $461,000 of a planned $600,000 round of funding from six investors. In November 2010, it reported collecting $900,000 from five investors, according to SEC filings.
Wisegate is Gates’ third startup. She was previously a vice president for Sun Microsystems Inc., the California-based tech giant that acquired Austin-based Waveset Technologies Inc., where Gates was director of product marketing for four years, according to her online profile.