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With Indonesians leading round, Path raises $25M for private social network

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Above: Dave Morin of Path at a 2012 MobileBeat event.

Image Credit: VentureBeat
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Path, the maker of a private social network for your closest friends and family, has raised $25 million in a third round of funding. The new investor leading the round is Indonesia’s Bakrie Global Group, according to Kara Swisher at Re/code.

Dave Morin, CEO of Path, confirmed the funding to Re/code, bringing the total amount raised to $65 million to date. Morin said the round was an “up round,” meaning the valuation was higher than the previous round in 2012, when the company raised $30 million at a $250 million valuation.

Path has taken a different route in social networking. While Facebook encourages you to make as many friends as possible among its 1 billion-plus users, Path limits its user network to 50 friends.

Existing investors who participated in the round include Greylock Partners, Kleiner Perkins, Index Ventures, Insight Venture Partners, Redpoint Venture Partners and First Round Capital.


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