The Huffington Post, a popular liberal blog, has raised $15 million from Oak Investment Partners, an investment firm that has interested in several media entities.
The Times of London is reporting that the money will be used for more local news and investigative journalism as founder Adrianna Huffington hopes to spread the site's influence.
Huffington Post was launched in 2005 on $2 million of seed capital and Adrianna Huffington, the site's founder, has been able to raise a combined $10 million in 2006 an 2007 from investors. The latest donation should bring it up to a reported $100 million in raised capital. Most of the money has been used to increase the site's staff.
There is concern, though, about whether the site can sustain its traffic now that the election of Barack Obama is over, an election that made the site one of the most highly-trafficked online.
Visit the Huffington Post here.
Read more about its recent fundraising efforts here and here.
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