San Jose, Calif. - Gaia Online, an online virtual world targeting teens, has received an undisclosed sum as an investment from Time Warner (NYSE: TWX), VentureBeat reported.

Founded in 2003, San Jose, Calif.-based Gaia Online counts around three million monthly users, and has a virtual economy that sees over $1 million in transactions per month.

Time Warner previously partnered with Gaia to screen films within the virtual world.

The company has to date raised more than $20 million in funding, from investors including Sony, DAG Ventures, Benchmark Capital and Redpoint Ventures.

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http://www.gaiaonline.com