San Francisco - Peanut Labs, a provider of Generation Y (13-25 year-olds) market research for social networks and other youth-oriented Web platforms, announced on Tuesday that it has raised $3.2 million in its first round of funding, led by Leapfrog Ventures and BV Capital.

San Francisco-based Peanut Labs will use the funding for continued development of its market research sampling technology, which includes surveys from the gaming, consumer products, entertainment, automotive and cellular industries.

For publishers, Peanut Labs offers a sum of money each time a member of one of the more than 70 social networks it deals with completes one of its surveys.

"This round of funding will allow us to expand service to our active list of premier market research clients to give them the highest quality sample," said Murtaza Hussain, co-founder and CEO of Peanut Labs.

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http://www.peanutlabs.com