For the second time in the past six months, Jukin Media has closed a seven-digit investment. The online video network, which focuses on viral video clips, has raised a $1.2 million funding round.
Participating investors in the new round include Bertelsmann Digital Media, Mandalay Entertainment CEO Peter Guber, Machinima Chairman Allen DeBevoise, Canyon Creek Capital, Karlin Ventures, and Kevin Gould of Kombo Ventures. Bertelsmann is an existing investor in Jukin, having participated in the million-dollar round the company raised back in May.
In a release, Jukin claimed it is profitable, but it chose to raise the new round in order to meet demand from investors, raise a small “cash cushion,” and allow it to invest more aggressively in new initiatives. “Jukin Media is coming off its best month ever in terms of video views and revenue,” said Jukin Founder and CEO Jonathan Skogmo. “This round ensures that Jukin will continue to grow and capitalize on new opportunities in the marketplace.” According to the release, Jukin has more than 18 million unique US YouTube views in August 2014.
Beyond the $1.2 million, Jukin is also using the new round to establish partnerships with experienced online video investors. No name stands out more than Debevoise; the former Machinima CEO has put his capital behind everything from Tubular Labs to MiTu to Epoxy. As the release states, this crop of investors will “help [Jukin] take advantage of its one-of-a-kind business model.” That’s a nice asset for a company that already claims more than 700 million monthly views on YouTube.