Machinima Raises $35 Million for ExpansionTuesday, May 22, 2012
Machinima, a Los Angeles online video entertainment company targeting computer gamers, said it has raised $35 million in a financing round led by search engine giant Google.
Machinima, which provides original gaming-oriented content on YouTube and other sites, said late Monday that the money will be used for content and global sales operations, international expansion and product initiatives.
More than 168 million unique gamers, primarily in the 18- to 34-year-old male demographic, viewed more than 1.61 billion videos, making Machinima the top entertainment channel on YouTube, according to the company.
“Our tremendous growth as one of the world’s largest online video communities, with innovative social metrics and attributes and massive mobile viewership, positions us well to lead the third wave of original video programming brands,” said Chief Executive Allen DeBevoise in a statement.
Previous investors Redpoint Ventures and MK Capital also participated in the round. It earlier raised about $10 million.