Today atVenu announced today the closing of $1.1 million of venture capital financing led by Real Ventures of Montreal and including private investors from the US and Canada.
Launched in January 2013, atVenu facilitates artist merchandise sales at live events, automates venue splits, forecasts product needs, and provides real time inventory management analytics.
The atVenu web and mobile app is currently being used by over 500 music artists including Luke Bryan, Kid Rock, John Mayer, and Train. Over $52 million in merchandise was tracked with the atVenu platform in 2013.
“atVenu is clearly the leader in the next wave of real time tools to help artists maximize their potential revenue from merchandise at their live performances,” said Chris Cornell, President of Manhead Merchandise, representing artists such as Train, Fall Out Boy, Panic at the Disco, and Steve Aoki. “That is why Manhead selected atVenu to power all of our managed tours.”
atVenu was co-founded by merch rep, label owner, and artist manager Ben Brannen, serial tech entrepreneur Derek Ball, and experienced tech startup CTO James Seigel.
Ball was the founder of Calgary startup Tynt which raised $12 million before it was acquired by 33Across in 2012. ”It has been an amazing year for atVenu, working with many of the industry’s top artists to improve how they manage and profit from their tour merchandise”, said Derek Ball, CEO and cofounder of atVenu. “We are very proud to have attracted such an impressive client roster, and amazing lead investor for this round.”
“We are very excited to back the incredible team behind atVenu,” said JS Cournoyer General Partner at Real Ventures. “They really are a passionate group with a powerful combination of music industry expertise and proven entrepreneurial execution.”