360-degree media production companies are becoming more and more important as companies reach out for creative ways to market their products, share their creative visions, and even educate their employees. SubVRsive, a team that has worked with MTV and has even earned an Emmy nomination for their collaboration with Showtime, announced that they’ve completed a series A funding round, acquired $4 million, and appointed former Hulu SVP Johannes Larcher as their new CEO.
On the company’s blog post about the funding, they wrote of the potential of VR and AR when it comes to providing the best content for their clients:
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.
The funding round was the result of investments from a single participant, the WPP, which is one of the world’s leading communications service companies.