Piczo raises $11 million more,
Piczo, the social networking company that tries to distinguish itself as the safer place for teens, has raised $11 million in a third round of funding.
Piczo is one of handful of sites gunning for “second place” behind MySpace, the overwhelming leader with 65 million unique users a month. Facebook is around 17 million. Piczo boasts 10.5 million monthly unique visitors worldwide, mainly in Europe and the U.S. Bebo and Hi5 are around that. Like other networking sites, Piczo offers video, photo-sharing, and other communication tools. However, it doesn’t allow people to search profiles, creating more of a sense of security for young people. It’s also invite-only.
The round was led by U.S. Venture Partners (USVP) and Mangrove Capital Partners. Piczo’s existing investors, Sierra Ventures and Catamount Ventures, also participated in the third round of funding.
The company has now raised $18 million since 2005