Social Raises a New $41 Million Round

Published on July 19, 2011
by Pui-Wing Tam has raised a $41 million round of funding, as the online privacy start-up aims to expand its business with new offerings.

The new round was led by venture-capital firm August Capital, with participation from Insight Capital and existing investors including Jafco Ventures, Kleiner Perkins Caufield & Byers and Bessemer Venture Partners, said CEO Michael Fertik. The round, which Fertik said was oversubscribed, brings the company’s total capital raised to more than $65 million. It was the company’s fourth round of institutional financing, otherwise known as a Series D.

Fertik said decided to raise more money because it is planning a big push into a new line of business. To date, the company has offered several services that help consumers manage their privacy, information and reputation online. Now has also built a dataset business–essentially, the start-up has collected data on individuals and layered that information with its own technologies–which allows the company to come up with assessments on people, among other things.

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