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Spigit Acquires Kindling, Inc. and Announces Record Year with 39% Growth

SAN FRANCISCO, Jan. 26, 2017 (GLOBE NEWSWIRE) -- Spigit, the world’s leading provider of innovation management software, today announced that it has acquired Kindling, Inc., and that for Spigit, 2016 was a record year for growth. Kindling is a team-level idea management tool used by global enterprises. Spigit sees new opportunities for Kindling customers to take advantage of Spigit software enterprise features and the Spigit support and strategy teams.

Kindling was named a “strong performer” in the Forrester Wave™ for Innovation Management Solutions (2016), and its customer list includes NBC Universal, Etsy, and BBDO, among others. As part of the transaction, Spigit will welcome employees from Kindling to its sales, customer success, and operations teams.

“We are excited to acquire Kindling to enhance both our team as well as our customer base. As the market leader in innovation management, we will be able to provide a stellar customer experience, and we are looking forward to welcoming Kindling customers into the terrific Spigit community,” said Scott Raskin, president and CEO of Spigit.

“We’re impressed with the vision and commitment that Spigit leadership has brought to innovation management. Kindling customers and the Kindling team have found a great home with Spigit,” said Tim Meaney, CEO of Kindling.

“This is exciting news to hear that Kindling and Spigit are coming together. As a Kindling customer building a culture of innovation, we are excited to have access to Spigit’s enterprise-focused technologies,” said Lucas Churchill, Director of Innovation, Hologic. “Additionally, we look forward to connecting with the broader group of Spigit peers to advance innovation at our company and in the marketplace as a whole.”

2016 a Record Year for Company Growth
Spigit also announced that 2016 sales exceeded 2015 sales by a record 39%, with significant growth across the Americas, Europe, and Asia-Pacific. Spigit experienced growth in every industry sector, including financial services, manufacturing, and healthcare. New customers added to the Spigit family include American Express, AIG, Sony Pictures, Nasdaq, PG&E, Toyota, along with dozens of other global brands.

The acquisition represents the next step in the strategy outlined in 2016 for extending Spigit’s leadership in innovation management and accelerating growth. In addition to the Kindling acquisition, Spigit will continue to invest in key areas:

  • Expanded sales and marketing efforts in North America, Europe, and Asia-Pacific

  • R&D to further deepen capabilities around Crowd Science and the full life cycle of Innovation

  • Additional development of the Spigit global Customer Success team

Industry analyst firms are predicting rapid growth in the Innovation Management market, and as the largest vendor of Innovation Management software, Spigit’s continued momentum demonstrates that more companies are turning to Spigit technology to address the biggest challenges they are facing.

In a recent report, Gartner highlighted innovation management using crowdsourcing as the highest ROI for digital transformation. Forrester Research also noted in a recent report that innovation is the number one concern for CEOs.

About Spigit
Spigit is the largest provider of innovation management software to some of the world’s foremost companies, including AT&T, Citibank, Duke Energy, MetLife, Pfizer, Unilever, UnitedHealth Group and more. Spigit has powered innovation and process improvement for large enterprises across major industries of financial services, manufacturing, healthcare, and energy. For a demo, click here.

Spigit cloud software enables organizations to engage with their employees, customers, and partners to build a culture of innovation. Spigit proprietary automation, patented algorithms, and highly configurable, secure and multi-lingual platform make it the only solution that will scale seamlessly across the enterprise. Spigit global HQ is in San Francisco, European HQ in London, and our Asia-Pacific HQ is in Sydney. Learn more at www.spigit.com.

© 2017 Spigit Corp. All rights reserved. Spigit, the Spigit logo, Kindling, the Kindling logo are trademarks or registered trademarks of Spigit Corporation and/or its in the U.S. and elsewhere. All other trademarks mentioned herein are the property of their respective owners.

For Editorial Contact: Mary Ellen Ynes maryellen@gmkcommunications.com (650) 759-8836

Source: Spigit