Jukin Media, a YouTube multichannel network specializing in distributing and licensing viral video clips, announced that it has raised $1.2 million in funding from investors including Mandalay Entertainment chairman and CEO Peter Guber and Machinima chairman Allen DeBevoise.
Also participating in the round were existing investor Bertelsmann Digital Media, as well as Canyon Creek Capital, Karlin Ventures and Kombo Ventures’ Kevin Gould. Jukin Media in April 2014 raised $1 million from Bertelsmann, Maker Studios (the YouTube MCN now owned by Disney), Launchpad LA, Richard Wolpert and Brad Zions.
Jukin, founded in 2009, claims it is profitable. The company, which has 58 full-time employees, said the latest round of capital will let it invest more aggressively in product and technology, as well as in original content initiatives for both TV and the web. Jukin also touted the media and entertainment connections of new investors including Guber and DeBevoise.
“This round ensures that Jukin will continue to grow and capitalize on new opportunities in the marketplace,” said founder and CEO Jonathan Skogmo.
The company generates revenue from videos on YouTube, where its content is viewed more than 700 million times monthly. But according to Jukin, YouTube accounts for only a fraction of its income: It also distributes and licenses content through partners including ABC, NBC, MTV, Yahoo, AOL and other broadcasters, publishers and platforms. Unlike some other MCNs, Jukin Media owns the intellectual property of its video library.
Jukin has more than 6 million subscribers on its owned-and-operated YouTube channels — the bulk of those for its FailArmy channel, featuring pratfalls and pranks — and hosts more than 10,000 user-generated video clips.