Bonfyre raises $4 million to grow its social network for businesses

Bonfyre, the company behind a private social network for employees, announced today that it closed a $4 million investment led by Arsenal Capital Management.

The funding round, the startup said, will fuel Bonfyre’s customer support and grow the sales team to expand its client list.

“This investment allows us to bring Bonfyre’s solution to more companies to further demonstrate the positive impact an engaged workforce can have on employees and business goals,” said Bonfyre CEO and cofounder Mark Sawyier.

To date, the St. Louis, Missouri-based startup has raised at least $9.7 million, including a $2.4 million round earlier this year that was also led by Arsenal.