Big Tweeting: Twitter Raises $100 Million

Twitter, the San Francisco-based micro-messaging service, today will close upwards of $100 million in new VC funding, as first reported by WSJ’s Deal Journal blog. peHUB has since confirmed the news, with a source close to the situation.

Insight Venture Partners and T. Rowe Price would be among the new investors, while return backers would include Spark Capital and Institutional Venture Partners. I’d assume that existing shareholders Benchmark Capital and Union Square Ventures also would participate, but WSJ does not mention them (putting in calls now).

TechCrunch had previously reported that Twitter was raising $50 million at a $1 billion valuation.

The company previously raised at least $50 million, including a $35 million Series D round earlier this year. That $35 million figure only included investments from new backers Benchmark and IVP, but not exercised pro rata rights by existing investors. An SEC filing suggests that the final amount was closer to $39 million. No word yet on if the $100 million is all new investors, or also includes pro rata returnees.

Twitter itself isn’t commenting yet, but we expect some sort of blog action within 24 hours or so…