Surprise, surprise — it doesn’t seem like online content studios are going to fade out of existence anytime soon. That’s for one simple reason, and it’s not massive profit margins: they keep finding true believers to give them more money.
Santa Monica-based Deca raised $10 million in a second round of funding, as was reported by socalTECH last week. Rustic Canyon Partners led the round, which also included previous investors Atomico, General Catalyst Partners and Mayfield Fund.
We are late to this story because we got held up tracking down a rumor that the round had come at a tiny valuation, which Deca CEO Michael Wayne flat-out denied today. Including the latest round, Deca has raised $15 million. It has just under 20 employees and seven properties, including its newest, Momversation, but not including the recently shut down Bush League.