YouTube partner Fullscreen said it has raised money from The Chernin Group, Comcast (Nasdaq: CMCSA) and WPP. The company didn't say how much money it rounded up or how much ownership it sold in the process.
But Fullscreen did say it will use the money to expand its technology, audience development and sales operations along with creating new content. The company says it was the top independent YouTube channel partner based on comScore data from the past six months.
Fullscreen's software--designed to make it easier for brands and independent video producers to build online video audiences--was part of what drew Comcast's venture capital arm to the deal, said Sam Landman, a principal at Comcast Ventures. Comcast's "NBC entertainment was the first network to use Fullscreen to manage and optimize their presence on YouTube and that successful implementation gave us confidence in their platform, company and team," he said in a press release.
For more:
- read the press release
- The Philadelphia Inquirer had this story
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