NEW YORK (TheWrap.com) - AwesomenessTV, a media company that operates a YouTube channel with programming geared toward teens, has closed a $3.5 million Series A investment round led by MK Capital, the company announced on Tuesday.
Greycroft Ventures Partners, New World Ventures, Machinima CEO Allen DeBevoise, UTA CEO Jeremy Zimmer and MediaLink CEO Michael Kassan are among the other investors.
The company's YouTube channel, which launched in June, boasts more than 75,000 subscribers. Among its shows are "IMO," a daily talk show, and "Randomness," a sketch comedy series.
"It's been a great five weeks. We went from 0 views to 12 million in 5 weeks and from no subscribers to closing in on 100,000 in five weeks," founder Brian Robbins, a veteran Hollywood producer and director, told TheWrap.
"The investment by a forward-thinking VC like MK Capital, led by Mark Terbeek, provides added credibility and ensures that AwesomenessTV has a firm financial foundation to build for the future," he added in a statement.
Robbins, who directed such films as "Varsity Blues" and "Good Burger," plans to use the funding to expand his marketing team and develop more programming.
The network's next show, "Runaways," will debut on Labor Day. Robbins described it as the most ambitious show the network has done and would like to eventually build a slate of comparable shows.
"Brian and his team have a demonstrated track record of attracting a hard-to-reach young audience," Terbeek, a partner at MK Capital, said in a statement. "With AwesomenessTV, they are clearly demonstrating the way that the next generation of iconic media companies are going to be built."
Source: http://news.yahoo.com/awesomenesstv-raises-3-5-million-venture-funds-media-100910076.html
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