San Francisco based social networking site Piczo will announce a third round of financing later today – $11 million, led by new investors U.S. Venture Partners and Mangrove Capital Partners (an early Skype investor). Existing investors Sierra Ventures and Catamount also participated. Piczo previously raised $7 million over two rounds.
Piczo is one of the larger social networks, with 10 million unique visitors generating 2 billion or so page views per month. Their niche is younger teens – 75% of Piczo’s members are between 13-16 years old. And Piczo focuses on security and privacy. Site visitors cannot search or browse user profiles (they must know the exact URL of the member profile), and and there are numerous ways for users, parents and others to report inappropriate behavior. Piczo has full time staff reviewing all complaints and takes swift action to protect its members. The company’s largest single market is the UK, which accounts for 40% of their users and 50% of page views.