TPM, headquartered in NYC, was founded by Joshua Marshall in 2000, and has since been funded by advertising and user contributions. Earlier this year it hired former Yahoo (NSDQ: YHOO) ad sales exec Diane Rinaldo to ramp up its ad sales efforts. It has about 15 employees, and says is profitable.

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—David adds: Sources told paidContent that while the commitments are in place, the funding hasn’t technically closed yet. When asked about this, Marshall declined to discuss the amount of the round or details about the round; he also wouldn’t divulge the names of the other angel investors. However, he did tell paidContent that the proceeds will largely go towards doubling the size of the of 8-member editorial staff. “This is all part of a three-year plan that we began this past spring and the job postings went up last week,” he said, adding that TPM doesn’t expect to seek additional funding this year.