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Funding Daily: Machinima

Machinima YouTube channel

Above: Red vs. Blue, Rooster Teeth's series

Image Credit: Machinima
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The day has come. We have one lone funding story for today. SXSW tends to do that.

Gaming video site Machinima confirms $18M round

After cutting over 10 percent of its staff, gaming video site Machinima has confirmed its new Warner Bros. Entertainment-led funding round.

Rumors of the $18 million raise first kicked off in February. Now, Machinima has finally confirmed the deal in an official press release.

According to the release, this round gives Machinima a chance to expand its video distribution beyond YouTube.

Read more on VentureBeat.