atVenu Raises $1.1m Seed Round lead by Real Ventures to Revolutionize Live Event Merchandise
SAN FRANCISCO, February 5, 2014-- atVenu Inc. (www.atVenu.com), the leader in live event merchandise management, announced today the closing of $1.1M of venture capital financing. The round was lead by Real Ventures of Montreal and included private investors from the US and Canada.
In parallel, atVenu is announcing public availability of its Merchandise Management system. Launched in January 2013, the web and mobile app is utilized in all global touring markets by over 500 music artists including Luke Bryan, Kid Rock, John Mayer, Train, and many others. 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."
Through its unique platform, atVenu facilitates artist merchandise sales at live events, automates venue splits, forecasts product needs, provides real time inventory management analytics, and much more.
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.
"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 co-founder 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."
About atVenu, Inc.
Founded in 2012, atVenu develops leading-edge live event merchandise solutions that allow artists, venues, and event operators to maximize revenue from sales of merchandise to their event attendees and fans. Used by many of the world's top touring artists and event operators, atVenu is the leader in merchandise management. For more information, visit www.atVenu.com.
About Real Ventures
Real Ventures is Canada's largest and most active seed venture fund investing in ambitious entrepreneurs that are creating the Internet experiences of the future or embracing the power of the Internet to disrupt existing industries or business models. www.realventures.com
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