We blogged recently about teen social networking phenomenon Piczo and its rapid growth from 1 to 10 million monthly unique visitors in a year. Our venture friends heard the call and have ponied up $11 million in a Series C funding round.
This capital will be deployed on Piczo’s worldwide expansion and delivering new tools that empower teens to build their own personal online communities in a safer online environment.
The round was led by U.S. Venture Partners and Mangrove Capital Partners. Existing investors, Sierra Ventures and Catamount Ventures, participated.
In making this investment, the venture guys recognised that teens control billions of dollars of spending worldwide and that understanding this demographic and knowing how to market to them online is a skill that Piczo can bring to its partners and advertisers.