Still trying to find itself, blog search engine turned blog search engine, plus ad network, plus blog network Technorati has overhauled its flagship site; the company has also raised $2 million in new funding from existing investors, we have confirmed. Technorati says its blog search engine will now take into account relevancy, in addition to the timeliness of posts. Bloggers will also be able to publish articles directly on the site. The changes come as Technorati has publicly admitted that it has struggled to adapt its service to the changing blogosphere. “We tried to boil the ocean, and burned ourselves in the process,” CEO Richard Jalichandra wrote in a recent guest post on VentureBeat.
The new funds come from existing investors and are an add-on to the $7.5 million that Technorati raised in June 2008 from Draper Fisher Jurvetson, Mobius Venture Capital, and FG Incubation.
Since then, Technorati has moved in several directions as it has focused on increasing its revenue. The company has launched an ad network that matches bloggers with advertisers — which it now claims is the “largest social media advertising network” — and it has also bought up blog network Blogcritics.
Jalichandra tells TechCrunch that revenue has more than quadrupled over the last two years; he says the new cash — which brings Technorati’s funding to date to $32 million — will be enough to fund the company until it becomes profitable. In April, the company laid off 4 employees, or about 10 percent of its staff, marking the second time it had cut staff in a year. At the time, a spokeswoman told us that the company was “right-sizing so we can become profitable sooner.”