Europe’s professional networking site Viadeo announced it has raised $32 million in a Series D round from the French Sovereign Fund and the Fonds Stratégique d’Investissement, among other investors. The Paris-based company, which focuses on the European and Chinese markets, previously raised about $18 million in funding from IDinvest Partners and Ventech.
VIADEO CLOSES $32 MILLION INVESTMENT; REPRESENTS RECORD FUNDRAISING IN EUROPEAN INTERNET INDUSTRY
The French Sovereign Fund, Allianz, Jefferies, Middle Eastern Funds and Others Join Prior Investors in Series D Round
San Francisco, CA, April 12, 2012– Viadeo, the Professional Social Network with over 45 million members worldwide, is announcing today the completion of a record fundraising round of $32 million split between the French Sovereign Fund, the Fonds Stratégique d’Investissement, existing institutional shareholders and a pool of new investors including Allianz, Jefferies and Middle Eastern private funds. The new investment will allow Viadeo to accelerate its growth in Europe and China with Tianji.com its local brand, as well as other key emerging markets like Latin America, Russia, India, and Africa. This achievement serves as a testament to the value Viadeo brings to its users whether they are managers, corporate professionals, recruiters or entrepreneurs.
Viadeo: A leader in Europe and emerging countries
With over 45 million members, Viadeo is the world’s No.2 Professional Social Network and is growing at 1 million new members each month. Viadeo achieved profitability in early September 2009 based on its ability to quickly grow and monetize its membership base, and to its robust business solutions for human resources and advertising.
With a clear focus on non-English speaking markets, Viadeo has secured a dominant presence throughout the world. It is an industry leader in Europe and Latin America and clear No.1 in China. The company continues to pursue an aggressive international development strategy with recent partnerships like the announcement of a joint venture in Russia in the second half of 2011.
“Multi-Local” and emerging countries: a winning strategy
Viadeo’s success is based predominantly on its “multi-local” approach to Professional Social Networks, which focuses on leveraging and honoring the local language, business and culture of its members. This strategy has allowed the group to be very successful in emerging markets. In China, for example, Viadeo’s subsidiary Tianji.com has seen tremendous growth in the last year, going from 100,000 to 500,000 new users per month with a total member base of 10M.
“We’re a global society where critical business connections span across different languages, geographies and cultures,” said Dan Serfaty, CEO, Viadeo. “We have always been laser-focused on our ‘multi-local’ approach, which goes beyond simple localization and focuses on catering to the local language, and understanding the business and cultural needs of each market. This approach has awarded us tremendous growth and success in both Europe and emerging markets.”
Viadeo is a professional social network with over 45 million members. Viadeo is used by those who want to:
· Increase their business opportunities (to discover new clients, staff and business partners)
· Enhance their visibility and their online reputation
· Manage and develop their network of professional contacts.
Viadeo’s members consist of business owners, entrepreneurs and managers from a diverse range of businesses both start-up and well-established. Every day Viadeo attracts more than 30,000 new members; 150,000 new connections are made and over 3 million profiles are viewed.
Based in Paris (head office), Viadeo also has offices and teams in the UK (London), US (San Francisco), Spain (Madrid and Barcelona), Italy (Milan), Russia (Moscow) China (Beijing), India (New Delhi), Mexico (Mexico City) and Senegal (Dakar). The company employs 310 staff worldwide.
The localization of sites is very important for Viadeo. In addition to Russian and Mandarin, Viadeo is available in six languages: English, French, Italian, Spanish, German, and Portuguese.
Our Website: www.viadeo.com