Blog club FM nabs funding

Federated Media, a blog network started by John Battelle, founder of The Industry Standard and Wired, said Wednesday it closed a Series A round of financing led by JP Morgan Partners (JPMP)

The amount of the investment was not disclosed. But JPMP was joined in the funding round by several of FM's original investors, including The New York Times, the Omidyar Network and Mitch Kapor. JPMP partner Chris Albinson also joined FM's board.

FM essentially brings together many well-known blogs and provides backend services such as advertising sales. Blogs in the network include BoingBoing.net, Digg.com, Fark.com and GigaOm.com.