November 6, 2008 9:13 AM PST

Machinima.com raises $3.85 million in funding

Machinima.com announced Thursday it raised $3.85 million in funding from MK Capital and other investors, which will be applied toward its business expansion. This is the first round of venture funding the company has raised.

The company also noted it recently named five new board members: Yair Landau, former Sony Pictures Digital chief; Joi Ito, CEO of Creative Commons; Matt Coffin, LowerMyBills.com founder; Mark Terbeek, MK Capital partner; and Allen DeBevoise, CEO of Machinima.com.

The company provides tools to allow users to incorporate images from video games and apply them to movies, as well as generates revenue from charging game publishers that want to run trailers or video snippets of their games on its site.

Dawn Kawamoto covers enterprise security and financial news relating to technology for CNET News. E-mail Dawn.

Topics:: Games,; News,; Corporate stuff

Tags:: Machinima,; venture capital,; video games,; film,; entertainment

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