Palo Alto, Calif. - LinkedIn, an online social network focused on business networking, announced on Monday that it has raised $12.8 million in its third round of venture capital financing, led by Bessemer Venture Partners and European Founders Fund.

The LinkedIn network currently claims 9 million users in North America, Asia and Europe, including 2.5 million in Europe.

The company plans to use the funds to expand further into Europe and other markets.

Palo Alto, Calif.-based LinkedIn, which draws revenue from advertising and premium services, became profitable in March 2006.

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