TeeBeeDee.com, a social net aimed at those over 40, has completed its first round funding with $4.8 million. The round was led by Shasta Ventures and included Monitor Ventures. Last summer, the company had secured $2.7 million in an angel round - which is included in this first round - from a number of individual investors, including Ron Conway and David Nierenberg; Jan Brandt, former vice chair and chief marketing officer of AOL; Jim Hornthal, founder of Preview Travel and former vice chairman of Travelocity.com; Ruth Owades, founder of Calyx & Corolla and Gardener’s Eden; and Bill Sahlman, senior associate dean of Harvard Business School. The site, which is divided along topics such as “work,” “love life,” “politics,” “pop culture,” and others, is currently in preview mode. TeeBeeDee expects to fully launch next month. Release

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In a conversation with TeeBeeDee’s founder Robin Wolaner, who founded Parenting Magazine and is a former evp of CNET Networks, she said the impetus for starting a social network was similar to the inspiration she had for starting the magazine. “When I started Parenting, I recognized that people my age were like our parents and needed an outlet that reflected that. Looking at social networks today, people my age are looking for information, not hanging out, so I saw a need there too.” She doesn’t expect to turn TeeBeeDee into a magazine, however. “Magazines are history, at least when it comes to providing service and information. There’s lots of reasons for that, but opportunity to personalize information online is simply greater than it is with print, which demands some level of mass.”