FSI leads €24m round for Viadeo

FSI has injected €10m into the firm, with the remaining capital from existing investors Idinvest and Ventech, as well as new investors Jefferies & Company, Allianz and backers in the Middle East.

The funding round will support the international expansion of the firm, with a particular focus on emerging markets, and the consolidation of its presence in France and China.

FSI's investment is in line with its focus on French digital companies.

Previous funding
In 2004, business angel federation Agregator provided €5m seed funding for Viadeo. In 2006, Idinvest and Ventech committed a combined €5m in exchange for a minority stake. In September the following year, the two investors injected an additional €5m into the professional social network.

Company
Founded in 2004 and based in Paris, Viadeo is a global professional social network available in six languages. The network allows its 45 million users to manage and develop business contacts and consult professional profiles. It currently attracts 1 million new users per month. The firm has monetised its service by offering premium membership to its users, alongside other services for HR and marketing professionals.

The firm employs 400 staff across offices in Paris, San Francisco, London, Madrid, Barcelona, Milan, Moscow, Beijing, New Delhi, Mexico City and Dakar. Viadeo has grown through acquisitions and has been profitable since 2009.

People
Jean d'Arthuys led the transaction for FSI alongside colleagues Litzie Maarek and Sophie Paquin. Dan Serfaty and Thierry Lunati are founders of Viadeo.

Advisers
Equity (FSI) – Accuracy (Financial due diligence); De Gaulle Fleurance (Legal).
Company – Jefferies (Corporate finance); Paul Hastings (Legal).

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• Topics
• France
• Consumer
• Expansion
• France
• Fonds Stratégique d’investissement