London - Politics and culture blog The Huffington Post is near the close of a new $15 million third round of venture capital financing, The Times reported, while PaidContent adds that sources tell it that Oak Investment Partners will lead the round.

The company has to date raised a total of about $40 million in financing; previous investors include SoftBank Capital and Greycroft Partners.

Launched in 2005 by a team led by Arianna Huffington, the company plans to use the new funds to finance an expansion into providing local news across the U.S., as well as more investigative journalism, according to The Times.

Related Links:
http://snipurl.com/69ulg (Times Online)

http://snipurl.com/69tq0 (PaidContent)