Path

Entrepreneur: Dave Morin, 30

Funding: $11.2 million from investors that include Kleiner Perkins Caufield & Byers and Index Ventures

Facebook veteran and competitive downhill skier Dave Morin started private social network Path last year, partly as a reaction to the approach of his former employer. Unlike Facebook, which lets a user broadcast posts and photos broadly, Path limits information to a small group of online friends. Earlier in his career, Path co-founder and Chief Executive Officer Morin, a native of Montana, worked in marketing at Apple (AAPL) and helped create the platform that enables developers to build applications for Facebook. Path is available as an iPhone app and a version for Google's (GOOG) Android software is coming soon.

Wisest funding decision: "Taking our first check from [angel investor] Ron Conway and working with Kleiner Perkins and Index for our Series A" round, says Morin.
 
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