Toronto based B5media, a network of blogs, has raised $2 million in funding from Brightspark Ventures and J. L. Albright Venture Partners. According to B5media’s blog, the funding “will strengthen the company’s network of bloggers to create greater value for readers and advertisers.” I counted 138 blogs under 15 categories in their network. The categories range from technology to sports to travel.

For a blog network that gets about two million unique visitors a month, the funding amount seems justifiable. Although they seem to be taking the Weblogs, Inc route. Blogging networks are not as hot as they used to be. To be successful, B5media needs to focus on getting quality bloggers. Afterall, tapping into new verticals and increasing value in their current verticals will do no good without quality bloggers.