MyToons Secures Venture Funding

LOS ANGELES, July 23:
Online animation outfit MyToons has completed its second round of funding led
by Syncom Venture Partners and Barshop Ventures, supporting the company’s
continued growth.

The capital will be used
to sustain the further development of the online company’s technology
infrastructure and revenue growth, in addition to expanding global
partnerships.

MyToons, which launched in
spring 2007, serves as a platform for content creators across the globe to
share their original animations, artwork and games. The site currently has some
10,000 contributing members, more than 12,000 properties and is building its
catalogue of high-resolution HD animation content.

“MyToons presents a
tremendous opportunity to address an underserved niche in the online content
marketplace,” said Herb Wilkins, the general partner at Syncom. “The MyToons
team has a clear view of what both animators and consumers are craving, and is
moving quickly to deliver key services to address those needs. We look forward
to helping take MyToons from early adoption to mainstream consumption.”

“We are thrilled to have
Syncom Venture Partners join the MyToons team,”
commented Dan Kraus, the CEO and co-founder of MyToons. “We now have two of the
premier media venture capital firms as partners, as well as a world-class group
of advisors as we look to improve and accelerate the ways animators distribute
and profit from their content.”

—By Kristin
Brzoznowski