LinkedIn Raises $22.7 Million

linkedin raises $22.7 million

Thu, Oct 23, 2008

Professional networking site LinkedIn is reporting on their blog that they have received investment funding totaling $22.7 million from Goldman Sachs, The McGraw-Hill Companies, and SAP ventures, as well as a re-investment by Bessemer Venture Partners.

The financing is a follow-on to the $53 million LinkedIn raised in their Series D round of funding in June, bringing their total to $75.7 million.

CEO Dan Nye said, “I’d like to reiterate our commitment to creating the right partnerships to help us build a great service for over 30 million professionals on LinkedIn today - a number that’s growing by leaps and bounds each month. 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.”

TechCrunch reports that while LinkedIn has announced the funding now, the round closed last month, before the market crash.

LinkedIn, Social Network

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This post was written by:

Vanessa Dennis - who has written 243 posts on Cheezhead Recruiting News and Opinion.

Vanessa Dennis, originally from Austin, Texas, was a corporate recruiter for two years before becoming a writer for Cheezhead.com. Vanessa has an English Writing degree from Loyola University of New Orleans. She currently lives with her family in Cleveland. Connect with Vanessa on the Facebook Fan Site.

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