Los Angeles - 60Frames Entertainment, a company that will provide financing, ad sales and syndication of professionally-produced online content, on Wednesday announced its official launch and a first round of $3.5 million in financing.

Investors included Tudor Investment Corporation, the Pilot Group and unnamed individuals.

Los Angeles-based 60Frames was incubated by United Talent Agency and Internet-based TV ad sales provider Spot Runner, and named Brent Weinstein, the former head of UTA's new online division, as its chief executive.

"In the same way that television developed iconic brands in the last century, 60Frames will help professional artists to create new formats, characters and stories that will be the brands of the 21st century," said Weinstein.

Spot Runner will work with 60Frames to build advertising models, formats and technologies.

The site will initially feature short-form comedy, from creators including filmmakers Joel and Ethan Coen, who will also serve on the company's creative advisory board. 60Frames will also expand to include dramatic, informative, educational and other categories of online video.

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