Flymachine, a San Francisco, CA-based virtual venue for live entertainment which delivers an immersive social experience, raised $21m in funding.
The round was led by Greycroft Partners and SignalFire, with participation from Primary Venture Partners, Contour Venture Partners, Red Sea Ventures, and Silicon Valley Bank, as well as angels including music-industry luminaries Coran Capshaw, Bill Silva, Marty Diamond, and Larry Webman, Bay Area concert promoter Another Planet Entertainment, Ben Lovett of Mumford & Sons, WIRED magazine co-founding editor John Battelle, and LionTree Partners.
The company intends to use the funds to continue to grow its diverse team, expand its network of venue partners, and develop new features for its digital events platform.
Co-founded by CEO Andrew Dreskin, Chief Experience Officer Rick Farman, and Chief Technology Officer Matthew Davis, Flymachine provides a virtual venue for live entertainment, which creates a new, customizable experience in a digital world. With Flymachine, artists can utilize third-party integrations, access to advanced broadcast features, pre-and-post show multimedia offerings, real-time data, and crowd visualizations.
Fans get a front-row, immersive seat to have a real sense of place with high levels of agency and social connectivity, can virtually move through various spaces, utilize proximity-based video chat to see and speak to each other, and experience chance encounters during an event, similar to an in-venue experience — all powered by patent-pending video technology.
Since the public launch of the platform in spring 2021, the company has already hosted a diverse roster of live music performances and signed exclusive agreements with Bowery Ballroom in New York City, Bimbo’s 365 Club in San Francisco, The Casbah in San Diego, The Crocodile in Seattle, Marathon Music Works in Nashville, Vogue Theatre in Vancouver, and Teragram Ballroom in Los Angeles, among others.
FinSMEs
15/07/2021