Path, a San Francisco, CA-based private social network, closed a $25m Series C round of funding.
Backers included Bakrie Global Group, Kleiner Perkins Caufield & Byers, Index Ventures, Greylock Partners, Insight Venture Partners, Redpoint Ventures, and First Round Capital.
According to a blog post, the company intends to use the funds to accelerate growth of its daily community (it currently has more than 23 million users all over the world), continue to develop the revenue strategy, and pursue innovation by hiring new people (read here).
Co-founded by Dave Morin, Shawn Fanning, and Dustin Mierau and launched in 2010, Path operates an ad-free platform for private messaging and sharing photos, videos, places, music, movies, and workouts to Facebook, Twitter, Tumblr and Foursquare.
It is currently available on iPhone, iPad, Android, and Kindle Fire.
FinSMEs
11/01/2014