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Kleiner Perkins, Index Ventures Lead $8.5 Million Round For Path

February 1st, 2011 02:18 admin Leave a comment Go to comments

San Francisco-based Path, a mobile social network, has raised a Series A Round of funding. The $8.5 million round was led by Kleiner Perkins Caufield & Byers. New investor Digital Garage Japan also joined the round, as did previous investors Index Ventures and First Round Capital.

Chi-Hua Chien and Mike Volpi from Kleiner and Index, respectively, joined the board of directors. Co-founder Dustin Mierau also joined the board as part of the round.

The company has now raised a total of $11.2 million.

Path is also moving away from its focus on complete privacy within the network. Previously users could post pictures and video to friends only, limited to 50. There was no way to post anything publicly or share on Twitter or Facebook. Still, the company says they have hundreds of thousands of users who’ve experienced “over 2 million moments shared.”

Path is now going to widen that a bit. Starting today users can email “moments” to their contacts via the app. You still can’t post moments to Twitter or Facebook. But CEO Dave Morin says “Don’t count that out in the future. Our focus is on giving users control over who they want to share with and how.”

Morin also says an Android app is in development, and it will be coming soon. Currently Path is only available on the iPhone.

Source: Kleiner Perkins, Index Ventures Lead $8.5 Million Round For Path

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