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StumbleUpon, the content recommendation service that eBay (NSDQ: EBAY) purchased for $75 million in 2007 and then sold back to its founders two years ago, has raised $17 million in a new funding round.
The company tells us that the new money comes from DAG Ventures, First Round Capital, Accel Partners, August Capital, and Sherpalo Ventures. The latter three VC firms put money in the company in April 2009, when eBay decided to spin it off, acknowledging that there were few synergies between the auction site and the content recommendation service, which lets users rate sites and suggests web pages for users to discover (or, “stumble upon”).
StumbleUpon says it will use this funding to “invest in the company’s core discovery technology, expand to new platforms and grow the employee base.” It says its user base has more than doubled since it was spun off from eBay and now totals more than 14 million.
Here’s a video describing how it works: