Part LinkedIn, part CareerBuilder, job site Doostang claims that its network includes 25 percent of recent graduates from the country’s top 30 universities. And now the Palo Alto, Calif., company has raised $1.25 million of an expected $2.1 million round of equity to expand even more, according to a filing with the SEC.

Doostang, which now claims 600,000 users, distinguishes itself from competitors as a career network for elite job candidates. Not only does it place emphasis on attracting members from top colleges and business schools, it also culls prestigious listings for them to choose from. For this reason, it offers several premium membership options that grant access to even better listings and high-profile connections to enable power networking.

But it’s not alone in trying to appeal to this niche, elite audience. TheLadders, a job site for people searching for six-figure salaries and up, has seen a lot of success. It raised $7.25 million from Matrix Partners to start back in 2004 and has grown to 1.8 million members, not to mention 35,000 recruiters.

Doostang justifies its smaller user base by saying it’s even more selective. Just two years ago, it was an invite-only service. Since then, it’s opened to the general public. But the company still faces one challenge we brought up in a previous VentureBeat article: that the most elite job seekers probably won’t have much trouble finding appropriate positions through their own personal networks. The site has managed to double in size since then — but many of its members probably belong to multiple job networks.

Shasta Ventures provided the recent round of funding, bringing Doostang’s total capital raised to $5.25 million since its founding in 2005.