Multi-Tenancy

We are trying to set up Elgg as a social media platform for multiple customers. We could set them as Groups. I think  it might limit the use of all the capabilities. Another way to set this up is to set up an instance of Elgg for each customer.  However this might make it difficult to manage the instances as we scale up.  If each customer can be set up as a tenant, much like how a typical SaaS application can be set up with complete isolation of the customer, the data and functionality it would be ideal. Is this possible?

Thanks