Hunch, the search engine co-founded by Flickr’s Caterina Fake to help consumers make better decisions, has confirmed (via Fake’s blog) that it raised a $12 million second round of funding led by Khosla Ventures. As we suspected last week, Gideon Yu, formerly the CFO of Facebook now at Khosla, handled the deal and is joining Hunch’s board of directors.

The startup’s valuation for this round was $52 million, according to TechCrunch, which also reported that Hunch has handled 50 million queries since its launch in 2007.

In order to help users decide what to buy or what action to take, the site asks them a series of questions, helping them narrow down their options and make the most educated choice. For example, you can supply your budget, as well as your entertainment interest, and get advice on which television to buy.

Hunch, which has 12 employees, has raised $19.2 million to date, including a $2 million first round of funding from General Catalyst Partners, Bessemer Venture Partners and Ron Conway’s SV Angel in March 2009. Wikipedia founder Jimmy Wales also sits on the board of directors.