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Viadeo, a European social network for business contacts which is quite similar in idea and execution to LinkedIn, has raised a further €5 million in funding from its existing investors, AGF Private Equity and Ventech. The extra cash will be used to fuel the growth of Viadeo in Asia; so far, the network has been doing very well in Europe, with over 1.3 million members.
Viadeo started as a private business social network in France back in 2003, however it has evolved since then and localized versions are now available for several European countries, including the UK, Germany, Spain, Italy and Portugal. In 2007, Viadeo has announced a strategic partnership with Tianji, China's largest business social network, so its expansion to the Asian market is an expected move.