Bonfyre, the St. Louis startup that’s developed a social media app to lets users create private social networks, has raised $4 million from St. Louis-based Arsenal Capital Management.
Bonfyre helps its users — mostly mid-to-large sized companies — build custom social media platforms to connect and engage with employees. The startup specializes in corporate clients with between 400 to 500 employees.
The money follows a $2.45 million round from Arsenal just a few months ago.
Including the new funding, Bonfyre has now raised approximately $9 million to date. The company does not disclose revenue.
Read more: St. Louis Business Journal