Path raises $50 million in Series C, valued at $500 million

Messaging app and social network Path has raised $50 million in a new funding round according to TechCrunch. The company is now at a $500 valuation, but is still in search of a lead investor. This is a significant jump from the last funding round for the company which occurred last April where it was only valued at $250 million.

Previously, there were reports that the company had been looking to raise anywhere between $75 to $100 million in funding for a $1 billion valuation.