Jukin Media has raised $1 million in its first-ever funding round, the company announced Monday.
Investors include Maker Studios, Bertelsmann Digital Media Investments (BDMI), Launchpad LA and several prominent Los Angeles-based angel investors, including Richard Wolpert (former president of Disney Online) and Brad Zions (former director of AOL International and producer of indie film Kissing Jessica Stein).
The company, which operates a viral video entertainment network on YouTube that includes FailArmy (pictured) and CutiesNFuzzies, is not disclosing how much each party invested or how much equity was given up. The money invested will be used to bolster its technology and infrastructure, and to help scale operations.
Jonathan Skogmo, founder and CEO Jukin Media, said demand was “significant” for this round. It was limited to a small group of key investors who bring knowledge and expertise and industry connections to the table, which are just as important for Culver City-based Jukin Media as the financial aspect, according to a spokesperson.
Last month, Jukin announced that Maker Studios would manage and monetize the company’s 30-plus YouTube channels and the two organizations would co-produce a series together. Although they were in talks about both deals simultaneously, the previously announced partnership is separate from the investment round.