Digital-video company Jukin Media has added $1.2 million in strategic funding from a handful of prominent media and venture-capital backers including Bertelsmann Digital Media, Mandalay Entertainment chairman Peter Guber and Machinima founder Allen DeBevoise.
Since its 2009 founding, the company has been largely self-funded and profitable, bootstrapping itself into a significant player in the fast-growing business of online video. The strategic investment round gives Jukin some key strategic relationships, and will finance TV and web ventures while giving it a cash cushion against changes in the industry, the company said.
Jukin, founded by CEO Jonathan Skogmo and based in Culver City, CA, acquires viral videos as they are starting to get big online. It then licenses the clips to other websites, TV shows and ad agencies, including outlets such as ABC, NBC, Yahoo, AOL and MTV. The company now owns a library of more than 17,000 clips. It also runs its own popular YouTube channels including JukinVideo and Fail Army.
“Jukin Media is coming off its best month ever in terms of video views and revenue,” said Skogmo. “This round ensures that Jukin will continue to grow and capitalize on new opportunities in the marketplace.”
Other investors in the round include Canyon Creek Capital, Karlin Ventures, and Kevin Gould of Kombo Ventures. This is the second time the company has gone out for investment, after a previous $1 million round came in from Bertelsmann, Maker Studios, Launchpad LA, Richard Wolpert, and Brad Zions.