Path May Be Raising Another Round of Funding

Path, the Personal Network that recently launched a Smart Journal for mobile devices, might be in the market for another investment.  According to BusinessInsider, multiple sources have confirmed that the company is raising another round of funding.

In February 2011, the company raised $8.65 million in Series A funding and $2.5 in angel funding.  The result was a beautifully designed interface and an enhanced mobile experience that launched in November. The funding came shortly after turning down Google’s offer to buy the site for more than $100 million.  After the redesign, Path’s membership shot up to 2 million users.

One potential investor is CrunchFund.  Mike Arrington, who owns the early stage venture capital firm (and is the founder of TechCrunch),  is already an angel investor in Path.

But this investor and others are not yet confirmed with Path CEO Dave Morin, nor is the amount of money that the company is looking to raise.

Image by Verkhovynets Taras via Shutterstock