Comcast Ventures Backs YouTube PartnerJoins $30 Million ‘A’ Round in Fullscreen Led by The Chernin Group 6/18/2013 5:52 AM Eastern
Fullscreen, one of YouTube’s top supplier of independent “channels,” said it has closed a series “A” round led by The Chernin Group, along with Comcast Ventures and WWP Digital.
Fullscreen did not disclose the amount of the round in Monday’s announcement, but AllThingsD pegged it at $30 million in a report posted in April, as did WhoGotFunded, a site that runs a funding database.
Fullscreen said it will use the funds to the company’s domestic and international expansion, and apply capital toward financing new “owned-and-operated content initiatives” and developing a software-as-a–service platform aimed at helping its partners establish and build their online followings.
Fullscreen, founded in January 2011 by YouTube Partner Program co-creator George Strompolos, claims to generate more than 2.5 billion monthly video views and touts a reach of more than 150 million subscribers. Fullscreen’s network, whose roster includes NBCUniversal and Ryan Seacrest Productions, comprises more than 10,000 YouTube “channels” that provide content from a variety of musicians, comedians, and other entertainers, including dubstep violinist Lindsey Stirling and filmmaker Devin Super Tramp. Fullscreen, currently the top-ranked independent YouTube partner as measured by Comscore, has about 150 employees.
“Fullscreen’s mission is to empower a new generation of video creators to reach online audiences on a global scale,” Strompolos, Fullscreen’s CEO, in a statement. “We’ve built scalable technology and an incredible roster of talent and brand partners since we were founded just over two years ago. This influx of capital will help us accelerate our goal of building a global media company, funding new content initiatives, continuing to invest into new technologies and furthering our rapid expansion into international markets.”
NBC Entertainment was the first network to use Fullscreen to manage its presence on YouTube. “As the video ecosystem evolves rapidly, Fullscreen is fusing technology and services to simplify operations and maximize opportunity for brand marketers and creators. The company has done an incredible job raising the profile of top talent and brands, bringing their content to the forefront,” said Sam Landman, principal at Comcast Ventures, in a statement.