Path, an extremely popular private social media company in Indonesia, has raised $25m in a series C round led by Indonesia energy and telecommunications conglomerate Bakrie Group. Existing backers that also participated in this latest round include Greylock Partners, Kleiner Perkins, Index Ventures, Insight Venture Partners, Redpoint Venture Partners and First Round Capital.
The target company’s USP is that users can have more control over the information and media they share by limiting your network to just 50 friend and family members.
Dave Morin, CEO of Path, has confirmed the funding to online news site Re/code, bringing the total amount raised to $65m to date. Morin said the round was an “up round,” signifying that company’s valuation has taken a jump since the company last raised $30m in 2012 when its valuation was around $250m. Path also raised $10m in 2011.