Los Angeles-based startup Crypt TV, which is known for its horror clips, has raised $3.5 million in funding.

The Wall Street Journal reported that Kenneth Lerer, managing partner at Lerer Hippeau Ventures, is leading the $3.5 million seed funding round for the two-year-old startup which boasts of generating 30 million views a month.

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Other investors participating in the new funding round include Advancit Capital and Comcast Corp.'s NBC Universal.

Crypt TV reportedly intends to use the money raised to expand its serialized contents and produce longer videos to take advantage of Facebook's apparent shifting algorithm to long-form content. It also plans to double its employment base to 14 people.

The startup, whose success comes mainly from Facebook with its official page gathering two million followers, also plans to produce and license content to digital platforms such as Complex Network's digital video network Rated Red and go90 mobile app produced by Verizon.

Before the year 2016 ended, Crypt TV and Rated Red launched a travel series titled Ghosted. Hosted by LeeAna Vamp, the show took fans to some sites of disastrous catastrophes as well as notorious killings and hauntings.

Crypt TV was founded by 26-year-old Jack Davis and horror director Eli Roth who serve the company as the chief executive officer and director respectively. Crypt TV made its name through its short clips which went viral including the baby cannibal "15 Seconds Scares" and "Do Not Watch Me" which features a diabolical clown.

According to analytics firm Tubular Labs, Crypt TV's videos have generated an average of around 250,000 views each on Facebook alone.

The startup, which made a debut on Facebook in April 2015, is also backed by Jason Blum, the founder of acclaimed studio Blumhouse