Multiply, my personal favorite when it comes to social networking websites has closed a Series A funding round with $5 million from Transcosmos and $1 million from the company’s founders. This is a nice little cash boost into the website.

If used carefully, the website can make many improvements to their service offering and possibly take a larger bite into the social networking pie. According to a blog post by Mr. Arrington, Multiply will use the funds to expand features, functionality, marketing and international presence.

Multiply, is a social networking website that launched in March 2004, has approximately 3 million registered users. The website is a social networking website with a twist. The service primarily focuses on limiting interactions to people who are already connected to each other – and this concept has caught on very well with its users.