Planet Daily, Ken Lerer's Stealth Video Startup, Raises $5 Million

Ken Lerer

It looks like Planet Daily, Ken Lerer and Eric Hippeau’s stealth video startup, has raised a round of financing.

According to an SEC filing, the startup has raised $5 million. The filing was first spotted by BetaBeat.

Oak Investment Partners may be an investor, as Fred Harman is mentioned in the filing. 

Bedrocket founder Brian Bedol and Nancy Tellem, the former president of CBS Television Studios, are also mentioned. Tellem may be a key new hire for the young company.

Planet Daily is still in stealth mode and it’s launching this summer. It’s looking to create viral videos that utilise social networks.

We’ve reached out to the company for comment and will update when we know more details.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.