Viadeo Raises $32M To Expand Its Professional Social Network In China, Russia And Beyond

Paris-based business social networking site Viadeo may have put a planned IPO into a holding pattern last year, but it is not having any trouble raising capital elsewhere as it forges ahead with its international expansion. Today, it has announced that it has picked up funding worth $32 million -- one of the largest recent tech investments in Europe and the biggest ever for a social network in the region. Investors in this round included government-backed funds the French Sovereign Wealth Fund and the Fonds Strat?gique d?Investissement; institutional shareholders Idinvest and Ventech; and several new investors such as Allianz, Jefferies, and Middle Eastern private funds. This most recent round of funding, Viadeo's fourth, takes the total amount invested in the company to $50.2 million.

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