(2011-09-27) Tumblr New Funding

On Monday, (TumblR) will announce it raised $85 million in fresh financing. The round was led by GreylockPartners and InsightVenturePartners, and the Chernin Group, Richard Branson, Spark Capital, Union Square Ventures and Sequoia Capital also contributed. To date, the company has raised roughly $40 million in funding.

Tumblr does not have much revenue to speak of, but its investors say they are confident the company will find its way to profitability.