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Viadeo raises $32million on series D Funding
Viadeo raises $32million on series D Funding
By: iMedia News Bureau’s group company Viadeo, the professional social networking conglomerate has raised Series D funding of a whopping $32 million from French Sovereign Wealth Fund, the Fonds Stratégique d'Investissement, existing institutional shareholders, Idinvest and Ventech, and a pool of new investors including Allianz, Jefferies, the global investment banking firm, and Middle Eastern private funds.

The company will use the funds for research, product development and sales. The company had previously raised $5 million in 2006 with total investments of over $55 million since its launch in 2004.This is one of the largest European internet investments of the last 12 months.

The site has announced the launch of Career Visualizer for its users. The newly added features are sure to make for an easy networking experience that allows people to connect and build relations with others from world over.

The users can now see the first glimpse of the new “Career Timeline” – a visual map of the professional experience displayed right after they edit the profile.

The new investment will allow Viadeo to accelerate growth in Europe and China(with its local brand Tianji), as well as other key emerging markets such as Latin America, Russia, India and Africa.This investment also puts leverage to Viadeo’s aggressive international development strategy which saw a major joint venture in Russia in the last quarter of 2011.

Mr.Yogesh Bansal, Founder and CEO, said, “We wanted to make such value additions to the website that made the entire user experience short, convenient yet an interactive one. With Career Timeline now the profile interface helps members create more up to date work profiles. ”

With over 45 million members, Viadeo is the world's second largest professional social network and is growing at one million new members each month. The company is reforming all Hubs, Communities and Forums under one name Groups, a more universal name, easier to understand by all and better adapted to the international expansion of Viadeo members.

 “We are doing a lot of research and juggling between many projects, and will announce some remarkable initiatives by June this year. We let people brand themselves and will leave no stone unturned to achieve this aim,” added Bansal.