MySpace for the Office

Venture giant Kleiner Perkins is backing Visible Path in its bid to take social networking corporate

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By Steve Rosenbush

April 18, 2006 at 4:00 AM UTC

This article is for subscribers only.

Make no mistake: Young people love to socialize on the Web. Tens of millions of teens and young adults use sites like News Corp.'s (NWS) MySpace or Facebook to trade messages on home pages loaded with blogs, photos, and music.

Now a startup called Visible Path is hoping to harness the popularity of Web-networking to create a tool for businesses. The closely held company in Foster City, Calif., has just raised $17 million in a second round of venture-capital funding, BusinessWeek Online has learned. The fund includes $10 million from Menlo Ventures, $5 million from Kleiner Perkins, and $2 million from Integral Capital Partners, according to Visible Path CEO Antony Brydon. The deal will be formally announced in the coming days.