Women’s blog network BlogHer has raised $7 Million in a third round, bringing total funds raised to date o $15.5 million, according to AllThingsD, which broke the news. Azure Capital comes on as a new investor, joined by existing investors Venrock and Peacock Equity, an NBC Universal (NYSE: GE) fund. CEO Lisa Stone said the funds would be used to develop new applications for its growing roster of bloggers and invest in research and advertising technology.
Sites catering to women have been getting a lot of attention from the investment community given its growing audience and advertising-friendly content. Parenting site Babble raised $1.25 million yesterday on top of $2 million raised in December and Glam Media raised $10 million in April in order to expand overseas.
According to Quantcast, the BlogHer network reaches about 12 million monthly visitors. CEO Stone said she expects the company to be profitable sometime in 2010.