SubVRsive, a virtual reality (VR) content company specialising in the creation of branded experiences has announced the completion of a Series A funding round. This has secured the company $4 million USD in investment.
Funding rounds usually tend to involve several companies or investors, SubVRsive’s on the other hand had just one, communications services company WPP. WPP has been following an investment strategy focusing on three key areas: technology, data and content. WPP’s digital assets include companies such as Acceleration (marketing technology consultancy), Cognifide (content management technology), Conexance (data cooperative), Salmon (e-commerce), and Hogarth (digital production technology).
SubVRsive was founded in August 2015, becoming Emmy-nominated VR company that has worked with leading brands like The American Heart Association, Lionsgate, Procter & Gamble, and Showtime Networks. With the investment SubVRsive will bring the benefits of VR and augmented reality (AR) to WPP’s agencies and brand clients.
Back in November VRFocus reported on IMAX Corporation announcing completion of the first phase of a $50 million VR fund to help finance the creation of at least 25 experiences, of which WPP was a partner.
In addition to the funding SubVRsive appointed Johannes Larcher as its new chief executive officer (CEO). Larcher was previously part of the leadership team that built video on demand service Hulu.
VRFocus will continue its coverage of SubVRsive, reporting back with any further announcements.