Federated Media blog ad network raises $4.5 million

August 24, 2007 | Eric Eldon

fm.png[Updated: We've corrected the article below, based on further reporting. Regulatory filings about venture capital financings are tricky, because they're often late, and misleading. That's why the proposal to bring more transparency is a good one.]

Federated Media, a popular but sometimes controversial ad network for blogs, has raised another $4.5 million in funding, according to PE Hub’s read of the company’s recent regulatory filing.

Returning backers include New Enterprise Associates and Omidyar Network, according to the filing; FM has raised nearly $3 million to date, PE Hub reports. [Update: We're told NEA didn't invest, and its not clear why PE Hub reports this. The lead investor in FM has always been Panorama Capital, a group formerly part of JP Morgan Partners.].

Disclosure: VentureBeat uses FM services.

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About the Author, Eric Eldon

Eric currently covers digital media technology and business, especially what's happening on social networks and their platforms. He writes and edits stories about lots of other stuff, too. He started at VentureBeat in the spring of 2007, half a year or so after Matt Marshall left his reporting job at the San Jose Mercury News to found the site. Eric previously cofounded a now-failed startup called Writewith, that was building editorial software for newspapers and other groups of writers.