My Damn Channel, the home of web series classics like Wainy Days and You Suck at Photoshop, has closed a $4.4 million Series B financing round. The investment is lead by Intuitive Venture Partners, with original Series A investors Okapi Venture Capital and Sunshine Wireless Company also chipping in.
“We focus on controlling costs and earning real revenues from repeat customers. We work with the best partners to offer the most powerful monetization force ever created: great content,” CEO Rob Barnett said in the announcement.
That $4.4 million will go towards adding additional sales and business development personnel, including a new VP of Business Development and a Director of Advertising and Branded Entertainment. This will increase the total size of MDC’s staff to, in Barnett’s words via email, “Something insanely huge like TEN people! We never wanted to overdo it before we knew we could make this work. It’s working. We’re growing. Amen.”
MDC’s slate of content has created a reputation that draws in high-level talent. As Easy to Assemble creator Illeana Douglas, who launched the second season of her IKEA-sponsored series on the site, said in a Q&A last October:
Rob Barnett, the president, takes it very all personally, and he cares about the artists and we get to have ownership. A lot of places don’t allow you to retain ownership, which is really unfair, because when you do these web shows it’s obviously a bit of a sacrifice financially. Plus, they had all my favorite people: Harry Shearer, Wainy Days and You Suck at Photoshop were actually my favorite shows on the web.
This announcement coincides with the site’s third anniversary, as well as the launch of a new slate of shows, which includes promotional shorts for the Paramount content Dinner for Schmucks, a yet-to-be-premiered series by former Colbert Report staffer Mark Malkoff, and original web content to support the Adult Swim launch of Childrens’ Hospital. In addition, Easy to Assemble returns this fall with even more celebrity appearances (including Patricia Heaton and Fred Willard) and plenty of Swedish accents.
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