Microblogging platform Tumblr announced Monday that it has secured $85 million in fresh finding. Venture capitalists Greylock Partners and Insight Venture Partners led the round. Other investors in this round were The Chernin Group, Sir Richard Branson, Spark Capital, Union Square Ventures and Sequoia Capital.

The social media site has exploded in recent months. David Karp said the site has attracted popular musicians such as Lady Gaga. Tumblr's pageviews per month has leaped from 2 billion to 13 billion, mobile pageviews have increased 17 times during the same period and the 30 million blogs on Tumblr have generated more than 40 million posts per day.

Karp said in a news release that the site will use the money to further enhance the site for its users: the money "allows us to continue to scale our business and give real focus to the further development of Tumblr."

Tumblr's easy way of reblogging content like photographs, videos, songs and bits of text have attracted a legion of loyal users. A recent report from Nielsen said the site draws more female teens than any other social network. Tumblr manages to attract users who spend more than 623 million minutes per month on the site.

"Tumblr has come far since we began our journey," said Karp. "From the early users signing up to easily share all of the things they cared about, to the global community today where creators have an incredible opportunity to reach an audience of hundreds of millions, it's been a remarkable four years."