Poptent, a social network focusing on crowdsourcing video, has raised $3 million in a first round funding. The Los Angeles-based company also has a new CEO: Andy Jedynak, the former president of KidZui, a portal aimed at children and their parents.
The round was led by MK Capital partner Yair Landau.
In addition to bringing on Jedynak, Poptent plans to make several more hires for its tech and ad sales teams. The site started about two years ago along with its then sibling XLNTads, which has since merged with Poptent. The company has received previous funding, the amount of which has not been disclosed.
The idea behind the site was initially to provide a venue for professional and amateur videographers to manage their projects and collaborate with others. Most importantly, it was also promoted as a place where videographers could post their work and get brand advertising support. Since opening its doors, Poptent has grown into a community of 20,000 video producers.