Since their last funding round in July 2005 securing an $8 million Series B round, Slide Inc., the online photo Web site launched last year by PayPal Inc. co-founder Max Levchin, has returned to the venture well, raising an undisclosed amount in Series C financing.

Vice President of Financing and Operations Kevin Freedman declined to discuss the amount or the company's valuation after the latest round. He also declined to say whether Slide has burned through its previous capital.

"We were in and are in very good financial shape," Freedman said, adding that the initial capital needed for the company was provided by Levchin himself.

New investor Mayfield Fund led the Series C round, which included participation from new investor Khosla Ventures and existing shareholders BlueRun Ventures and the Founders Fund. Proceeds will be used to expand Slide's 45-person staff, bolster its infrastructure and continue with product development, said Freedman.

Mayfield Managing Director Allen Morgan declined to discuss the specifics of the round, but said his firm was attracted to Slide's combination of a Web-based service with a downloadable desktop client.

Morgan said Slide's technology is a "more powerful and easier to use application" compared with other slide show services provided by MySpace.com and other sites. "The founding team...through the PayPal wars learned a lot about simplification of complexity as a way to increse usage," Morgan said.

Released in the summer of 2005, Slide's technology allows consumers to create slideshows from their own photos and from other Web content. Its services, which it provides free to consumers, allow users to add captions and other features to slideshows, and quickly upload them to blogs, MySpace pages and other sites. Users can also install the company's software and run slideshows on their desktops.

Though the technology is free for consumers, corporate customers will work with the company on a revenue-sharing model, said Freedman, who sited Zappos.com Inc. as one current customer. The company declined to discuss revenue numbers.

Going forward, San Francisco-based Slide will add additional features and applications to its platform. "We are really focused on making it as easily as possible for people to tell their stories," said Freedman. "We are certainly looking at all possibilities."

As a result of the new financing, Morgan will join Slide's board.