Canaan Partners, a $2.4 billion global venture capital firm, has announced it has led a $10 million, Series B investment in Associated Content, an online publisher known as "The People's Media Company". The new funding is intended to enable Associated Content to further its commitment to creating an unparalleled network of content producers, and to enhance its publishing and distribution platforms. Warren Lee from Canaan Partners has joined Associated Content's board of directors.
The firm's current portfolio includes The Active Network, an online community for amateur sports enthusiasts; Tremor Media, a company monetizing online video; and Blurb, which lets anyone create and sell books online.
Founded in 2005, Associated Content is comprised of more than 70,000 Content Producers who contribute to its ad-supported digital media library. Associated Content also operates as a syndication engine, providing brands and publishers with a wide range of content generated through platform. Existing investors, including Softbank Capital and Tim Armstrong also participated in the round.