SubVRsive gets $4 million funding for VR and AR production
SubVRsive, a Texas-based media house specialising in virtual and augmented reality, has announced it has raised $4 million (£3.21m) in a series A investment round as well as appointing Johannes Larcher as its CEO.
The company, which was founded in 2015, aims to create ‘unforgettable virtual reality experiences’ and has been working on behalf of some of the world’s leading brands, including Lionsgate, MTV, and Downy Unstopables. The funding round’s only participant was UK multinational advertising and public relations firm WPP.
Larcher was most recently part of the executive leadership team that built Hulu, the video on demand service owned by Disney, Fox, NBC, and Time Warner.
On the company’s blog, SubVRsive wrote: “If our experience in immersive storytelling has taught us anything, it’s that virtual reality and augmented reality are fundamentally redefining the ways in which brands connect with their audiences. While the sight, sound, and motion of traditional video allow brands to explain their benefits to consumers, the immersive nature of virtual reality allows consumers to experience those benefits for themselves – and that experience is captivating.
“We are convinced that virtual reality and augmented reality will continue to push the envelope of storytelling and will offer brands more and more effective ways to deepen their engagement with their audiences.”
SubVRsive was nominated for an Emmy for its work with Showtime Networks in capturing the first ever boxing match to be released in its entirety in VR.