San Francisco - Social networking site Hi5 has raised $20 million in a new round of venture capital financing, led by Mohr Davidow Ventures, TechCrunch reported.

Founded in 2003, San Francisco-based Hi5 claims more than 60 million members for its social network, which is popular in many Latin American countries, as well as in Portugal and Jamaica.

Related Links:
http://tinyurl.com/3y4j5q (TechCrunch)

http://www.hi5.com