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.

AI Weekly

The must-read newsletter for AI and Big Data industry written by Khari Johnson, Kyle Wiggers, and Seth Colaner.

Included with VentureBeat Insider and VentureBeat VIP memberships.

Read more on VentureBeat.

VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn More