In an economic climate where many technology investors have gone into hiding, one social networking site is bringing in more investment dollars than it can spend.

LinkedIn Corp. has raised an additional $22.7 million from long-time investor Bessemer Venture Partners and three new investors, SAP Ventures, Goldman Sachs Group and The McGraw-Hill Companies. That figure comes on top of the $53 million the company raised last June. 

LinkedIn hasn't put that money to work yet, but CEO Dan Nye notes that the money strengthens the company's balance sheet and gives it "some friends in important places."

LinkedIn is looking to boost revenue by leveraging its professional network of more than 27 million members. Last month, the company launched the LinkedIn Audience Network, designed to help marketers reach specific professional audiences across hundreds of publishers.