Raises $11.1M for Scholarly Social Network

ACADEMIA.EDU: $11.1 million to SF-based in Series B round led by Khosla Ventures, with existing investors Spark Capital and True Ventures also participating, reports TechCrunch. Ben Ling from Khosla Ventures will join the board. The company, which aspires to be a social network for researchers, has now raised over $17M, with the most recent round in December 2011. CEO Richard Price's goal for is "to have every single science PDF ever written available for free on the Internet and...change the face of peer review." VentureBeat reports he has 8 million monthly unique visitors but is still exploring revenue models.

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