SpherePlay has announced a $1.26 million round of funding.
The Montreal-based company’s financing round was led by 16 members of the Anges Québec, a Québec angel investor network. Other investors included Anges Québec Capital Fund, which financially supports members of that angel investor network, and BDC Capital.
Founded in 2014 by CEO Christian Eve-Lévesque and CTO Stéphane Lévesque, SpherePlay develops complete technological solutions that gives broadcasters and other media companies the ability to create and distribute virtual reality content through their normal channels and platforms. The mediums the company reaches includes web, smart TV, mobile and more.
“Not only does SpherePlay offer cutting-edge technology products, it also has a solid and inspired business vision,” said Kalthoum Bouacida, VP of investment at Anges Québec Capital. “We are happy to financially support SpherePlay’s projects and benefit along with it from the opportunities we see in the future of virtual reality.”
The funding will be used to optimize the virtual reality platform and speed up its deployment. As the company grows, SpherePlay will be able to reach even more clients and offer a fluid and high-performing experience. This is important as the need for a dynamic and ever-evolving experience rooted in VR is vital for many media companies trying to reach new audiences.
Many companies offer a VR app in addition to a non-VR app, and one thing SpherePlay does is connect the two experiences together in a seamless fashion. That means there is no need to download separate versions to access the same brand, a disconnect many companies face when trying to port content to VR.
“BDC’s involvement is part of our desire to get directly involved in the virtual reality adventure, a technology and market full of potential,” said Jean-Michel Domard, senior account manager at BDC. “We have been following closely the evolution of SpherePlay for some time, and are impressed with the strategies and execution put forward by its entrepreneurs.”
SpherePlay’s clients include the NHL’s Pittsburgh Penguins, NVIDIA and Bell Media.