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Jukin Media closed its first funding round on Monday, hauling in $1 million from Maker Studios, Launchpad LA, Bertelsmann Digital Media, and several LA angels. This intensifies the relationship between Jukin and Maker Studios, who already deals out and sells ads on Jukin’s channels.
Founded in 2009, Jukin Media is most known for its Fail Army channel on YouTube which generates around 450 million views each month. Jukin regularly distributes its viral videos to popular television networks such as Comedy Central, NBC, and CNN. Jukin’s Culver City headquarters are home to about 40 employees with a few in Europe.
Founder Jonathan Skogmo plans on using the funding to further develop its technology and to add employees. However, Skogmo claims that the company has been profitable for a while and didn’t need the funding.
“Demand was significant for this round, and we limited it to a small group of key investors we thought would be able to help drive our core initiatives,” Skogmo said in a statement. “Although we are profitable and did not need to raise money, we're fortunate that we were able to bring on such a knowledgeable and connected group.”
