Sausalito, Calif. - Federated Media, an online advertising network for blogs, has raised a third round of venture capital financing totaling between $40 million and $50 million, PEHub.com reports.

Oak Investment Partners led the round; previous investors Omidyar Network and Panorama Capital also participated.

Sausalito, Calif.-based Federated Media sells advertising across a range of blog categories, for partners including Ars Technica, Boing Boing, Destructoid, TechCrunch and VentureBeat.

Related Links:
http://www.pehub.com/wordpress/?p=2296

http://www.federatedmedia.net