Funding bonanza for social networking site Hi5

San Francisco-based social networking site Hi5 has raised $20 million in a new round of funding led by Mohr Davidow Ventures.

Mention social networking and the first thing you recollect is Facebook. But you’ll be surprised to know there’s a social networking site two ranks ahead of Facebook and here we quote none other than Alexa, which ranked Hi5 as the 11th most popular site online above Facebook at 13th.

Moreover, the start-up has drawn interest from the venture capital community and it is said to have raised about $20 million in its latest round of funding led by Mohr Davidow Ventures.

If you haven’t heard much of this dark horse, it’s because the traffic doesn’t come from the United States and so it seldom gets the press Facebook does. Hi5 is the No. 1 ranking site online in Portugal, Ecuador, Costa Rica, El Salvador and Guatemala, and ranks at No 2 in Jamaica, Honduras and The Dominican Republic.

The company has about 30 million members and serves up 200 million pages a day.

[via techcrunch]