Blogging service Tumblr has raised a fresh $85 million round of funding in a bid to boost services and subsequently increase revenues.

The New York Times confirmed Monday that the round of funding was led by Greylock Partners and Insight Venture Partners. Richard Branson, Sequoia Capital, Chernin Group, Spark Capital and Union Square Ventures also participated.

Page views have increased at an impressive rate at Tumblr this year, with the blogs attracting over 13 billion views per month compared to 2 million views at the beginning of the year.

comScore stats indicate Tumblr' blogging service has drawn 13.4 million unique visitors in the U.S. in July.

Tumblr's service is preferred by many for its intuitive interface and quick 'follow' button. Since Tumblr was introduced in 2007, about 30 million blogs have been created, and these blogs are now publishing over 40 million blog posts daily.