LinkedIn CEO Dan Nye announced via blog that his company has received additional strategic funding totaling $22.7 million from powers in enterprise software, investment banking and business information sectors.
“They believe in the power of LinkedIn as a way to connect professionals and help them be effective,” said Nye. This round of funding includes strategic investors Goldman Sachs, The McGraw-Hill Companies, and SAP ventures; as well as a re-investment by Bessemer Venture Partners.
This financing is a follow-on of the Series D round of funding we announced in June of 2008, in which we raised $53 million. Led by Bain Capital Ventures, LinkedIn’s Series D financing round has now raised $75.7 million.
“This funding strengthens LinkedIn further, and will help us to continue creating additional services for professionals to connect and collaborate more effectively, around the world,” said Nye in the blog.
The news comes just weeks after LinkedIn announced the LinkedIn Audience Network. Using the firm’s profile-based targeting technology the LinkedIn Audience Network “helps marketers efficiently reach specific audiences of influential and affluent professionals across hundreds of high quality brand-name publishers.”
Said Steve Patrizi, LinkedIn’s Director of Advertising Sales, in prepared comments: “The LinkedIn Audience Network offers advertisers one of the most accurate audience data sets available on the Web along with the confidence of knowing that their brands will only appear on sites with high editorial standards.”
The CEO estimated that 30 million professionals currently use LinkedIn.
