Path is a private social network led by Dave Morin that emphasizes intimate, mobile-first sharing. Recently the company added premium subscription plans and product features like private sharing as an additional revenue stream. Path has been focusing on strategic expansion in Southeast Asia and brought on Indonesia’s Bakrie Global Group to help increase its footprint there. The company closed a $25 million Series C, bringing total funding to $65 million. Path reported having 23 million customers. Management acknowledged ongoing challenges in the U.S. market, including stemming a leaky user base amid competition from younger mobile networks like Snapchat. Path builds a mobile-first, personal social network that emphasizes design, simplicity and private sharing among family and friends. The app was redesigned in November and the company now frames itself as a "mobile personal networking" product rather than a "journal." CEO Dave Morin has described Path as a re-imagining of mobile-centered social fabric and the company emphasizes world-class design and ease of use. Path plans to use the new funding to drive international growth and increase user adoption. The announcement frames the product as uniquely personal and mobile-centric, tapping into how people use their devices daily. Financially, Path has just closed a significant new financing round totaling more than $30 million. Path is a private mobile network designed for small social circles, limiting connections to just 50 friends. The app has "hundreds of thousands" of users and about 20% of active users engage daily. The company nearly ran out of cash before securing new financing. Path just closed an $8.5 million venture round led by Kleiner Perkins and Index Ventures at roughly a $25 million pre-money valuation. The team is led by cofounder and CEO Dave Morin, a prominent ex-Facebooker noted for design skills. Path previously rejected an acquisition approach from Google and intends to continue operating independently.

Total raised

$64M

Funding rounds

3

Latest round

Series C

Latest activity

Jan 2014