Now Reading raises a wee bit of cash raises a wee bit of cash

29 Million worth of cash was dumped into the back of Matt Mullenweg and Toni Schneider’s garage by multiple Venture Capital Funds. Speculation has it that Automattic will use the extra cash to expand its feature set to include more social networking, and more paid features to return a sizeable investment to its investors. Pretty impressive for a company that I’ve always viewed as slightly evil with a twist of strong solid resiliency. Time for them to unveil the much needed adsense widget.

Automattic has raised a whopping $29 million in a Series B Round of funding, including a strategic investment from The New York Times Co. True Ventures led the round, which includes previous investors Polaris Ventures and Radar Ventures.

Multiple sources including Gigaom were used on this article. We promise we didn’t hurt any of them.

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