We reported last month that blog search engine Technorati had raised $7.6 million in Series C funding in June from previous investors Draper Fisher Jurvetson and Mobius Venture Capital. Today’s PE Wire now says that Series C funding has hit $10.52 million. The previous investment left many mystified about the implications, today’s news really begs the question of where Technorati is going.
Now three years old, the site just released a major upgrade. We said last time that we assumed this round was done at a flat or down valuation. This may be a bet for the long haul and it may be an attempt to kick the site into action so it can raise more revenue. It’s hard to say, but today’s news that the round C funding was almost 50% larger than previously reported certainly makes things all the more interesting to watch.