US-based bank Allen & Co and Sir Richard Branson, the founder of UK-based conglomerate Virgin Group, and Russian businessman Yuri Milner, founder of Digital Sky Technologies, have helped US-based social network Path raise more than $30m.
The round was led Redpoint Ventures, Path said in a statement. Other backers of the Series B were Greylock Partners, Kleiner Perkins Caufield & Byers, Index Ventures, Jerry Murdock, an executive at venture firm Insight Venture Partners, Mark Pincus, gaming company Zynga’s founder. News provider All Things Digital added the company might have raised as much as $40m.
Path previously raised $10.8m of a planned $11.6m round in February last year, a filing said. Path was also previously backed by Digital Garage Japan, All Things Digital said.