NEWS
NEWS
NEWS
Machinima raises $42 million Series E in round led by Warner Bros.
Machinima Inc. has taken $42 million Series E in a round led by Warner Bros. that included existing investors Redpoint Ventures, MK Capital and Coffin Capital.
Founded in 2000, Machinima offers a range of programs to a community passionate about video games, animation, movies, TV, and the other endless forms of pop culture.
Best known perhaps for its YouTube network, the company says that it currently reaches 170 million monthly unique viewers, and its YouTube network has 430 million subscribers worldwide.
“In 2014, Machinima regained our leadership position in the global digital video marketplace by focusing on our Talent Network and transforming our brand into one that is reflective of our content, our audience and our community of creators,” Machinima CEO Chad Gutstein said in a statement.
Warner Bros. and Machinima have worked together previously, having co-created the live-action web video series “Mortal Kombat Legacy,” and is due to release another co-created series “Justice League: Gods and Monsters Chronicles” later this year.
The new investment takes Machinima’s total funding to $91.6 million over seven rounds including this one. Investors in the company who didn’t participate in the new round include Google, Raine Ventures, Triangle Peak Partners, Yat Siu and Gordon Rubenstein.
Machinima said that the additional funding would enable them to accelerate growth through increased investments in content and technology that better serves the firms audiences, advertisers, creators and distributors.
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