Airtime lands Series B while in stealth mode

The creation of Sean Parker & Shawn Fanning has already raised $32M+, made its first acquisition

The highly-anticipated and very hush-hush project created by Sean Parker and Shawn Fanning looks like it will exit stealth mode in just eight days, according to the company blog. And with about a week of speculation left floating around the tech community, the company has already raised a Series B round of funding.

This latest $25 million round was led by Kleiner Perkins Caufield & Byers and including Andreessen Horowitz, Accel Partners, Google Ventures, and the Social + Capital Partnership.  As a result of the round, Bing Gordon from KPCB will join the Airtime board. 

This brings Airtime's funding to around $32 million.  

So far, all that most people know about this site is that it is a social site that will somehow incorporate live streaming video. 

Even though Airtime not live yet, it is taking pre-registrations through Facebook with an app permissions.

Many have been speculating that Parker and Fanning, given their past connections with Napster, Spotify and Facebook, are interested in connecting people based on the videos they like and want to share -- thus creating kind of a Pandora for videos.

The company also announced that it made its first acquisition -- Erly. 

Erly was a project that a team of Hulu engineers built to help better organize social sharing and events.

Here is the latest blog post by the Airtime team: 

We are counting down the days until June 5th when we’ll unveil the first version of Airtime. In the meantime, we have exciting news to share about the people behind it.

We recently closed a round of financing led by Kleiner Perkins Caufield & Byers and joined by other great partners, including existing and new investors such as Andreessen Horowitz, Accel Partners, Google Ventures, and Social + Capital. Bing Gordon from KPCB will join Sean Parker and Shawn Fanning on the Airtime board.

We are also thrilled to announce the acquisition of Erly, a fellow KPCB company founded last year by product and engineering leaders from Hulu. Erly brings demonstrated consumer products expertise, video experience, and technical leadership to Airtime, and we couldn’t be more proud to welcome the newest members of our family.

To become one of Airtime’s first users when we launch, sign up today. You can also follow us on Twitter and Facebook.

We look forward to saying hello on June 5th.

So mark your calendars, the time is approaching when we all get a look at this new creation.