January 10, 2014
With continued growth and feature rollouts in 2013 Path shared this evening that they are starting 2014 out by announcing their latest funding round. For their Series C round of funding they have raised $25 million. The round includes contributions from Bakrie Global Group, Kleiner Perkins Caufield & Byers, Index Ventures,Greylock Partners, Insight Venture Partners, Redpoint Ventures, and First Round Capital.
Path posted on their blog:
“This investment enables us to continue to focus on the pursuit of our vision. The capital will be used to directly fuel the growth of our daily community, to continue to develop our revenue strategy, and to pursue breakthrough innovation. We will continue to focus our efforts on attracting a world class team inspired to build this vision together.”
It is worth noting that this round of funding is only half of the rumored $50 million Series C round what was reported by TechCrunch back in July. This is an great example showing not all rumors that are reported are correct – or that Path decided to adjust the amount they raise in this round. Either way, it brings the total funding raised by Path to $68.3 million to date.
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