We reported last month that online publisher Associated Content was working on a second round of funding. That round was announced today — $10 million led by Canaan Partners. Existing investors, including Softbank Capital and Google ad exec Tim Armstrong also participated. The company, which has a focus on paying for content that can be search optimized and used to generate revenue (and that part has raised some controversy, as we mentioned in the earlier post), raised $5.4 million in its first round. Release.