Webjam Raises £1 Million First Round For White Label Social Nets

Webjam, a startup that lets any organization set up their own social network (that sounds pretty familiar), has raised a £1 million ($1.9 million) first round led by I-Source, which had previously invested unspecified seed money in the company. The London-based startup offers a paid, SAAS model for companies and non-profits to set up sites. Here’s an example of one from the Centre for Policy Studies. The company says it operates in the B2B2C market, which in non-jargon speak, means tools for companies to target customers. U.S.-based Ning is probably the closest analogy, though its customer profile is probably wider, targeting large organizations and small, ad-hoc groups. Release.

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