Lifera, the social networking company that’s a major backer of Facebook, is raising a $100 million Series B round, the company announced on Tuesday.
Led by Chinese technology company Qihoo 360 Ventures, the new round will be led by Sequoia Capital, an early investor in Liferays social network.
The company also has $250 million in Series B funding from Sequoias venture capital arm.
Qihoo was also part of the first round of Liferahs funding, and the new deal also provides an additional $100m in capital to the company.
The company said the new funding will enable it to continue its strategy of leveraging social media to connect people to their friends, with the goal of creating a social network that is as open as possible.
Liferay will use the funds to invest in new products and services that will improve the user experience on Liferary, which is the company’s answer to Instagram, the photo-sharing app that was acquired by Facebook in 2014.
Lenderay said the Series B investment will allow the company to continue expanding its reach, expand its user base and scale its business.
Lift the Wall has launched a new crowdfunding platform, called Lift the Wall, which will allow anyone to raise money to build their own social network to use as a platform for building their own businesses.