Palo Alto-based Doostang, a career-oriented networking and jobs site, has raised $3.5 million in a first round led by Shasta Ventures, reports VentureBeat. It previously raised a small angel round from unidentified investors. The company’s most obvious competitor is LinkedIn, though its trying for an elite user base by going invitation only. The company’s blog says the service recently passed 300,000 users.

Update: The company has now announced that the round was for $4 million.