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Updated: Complex Media, the on- and offline media company founded by entrepreneur and artist Marc Ecko, has raised $12.8 million in funding, per an SEC filing. The new money comes from Accel Partners and Austin Ventures, and serves as Complex Media’s first round of funding as a standalone company. It is being spun-off from parent company Marc Ecko Enterprises — which has been struggling with debt.
Complex Media will be headed up by CEO Rich Antoniello and GM Brian Kelley; Marc Ecko will remain as an owner and board member. The company includes the Complex Media Network, a group of over two dozen sites that cater to young men’s interests, as well as Complex magazine.
The spin-off comes on the heels of a much larger cash injection for Marc Ecko Enterprises, which encompasses multiple clothing lines, a video game company and an in-store online video network: apparel holding company Iconix Brand Group took a majority stake for $108 million, in late October (via Crain’s).