LinkedIn Raises $53 Million

Jun 20, 2008

The online network LinkedIn has received $53 million in a new venture capital funding round, primarily from Bain Capital Ventures, the Boston-based PE firm. Other investors in the round include Sequoia Capital, Bessemer Venture Partners, and Greylock Partners. The investors received a combined 5 percent stake in LinkedIn, and the new financing round values the company at $1 billion. The total raised by the company is over $80 million. LinkedIn will use the investment to make acquisitions and expand its overseas operations.