NextUp, the stand up comedy focussed online video on demand platform, has secured a new funding round along with a distribution deal with airline Virgin Atlantic.
The site secured an additional £230,000 of capital and bring its valuation to £1, 588,375 up from £750,000.
Hosting a wealth of recorded live stand-up content for those who love comedy and want to see more than a trip to their local comedy club can offer, the company has gone from strength to strength, adding a wealth of new content to its channel and attracting new investors.
In addition to the company’s current investors – Technologies SAS and Matthew Emerson investing further during the 2nd round, NextUp have also brought multi-sector, multi-fund venture capitalist firm Velocity on board – and Velocity’s creative director, Bil Bungay (founder of top advertising agency BMB), will take a seat at the NextUp Board.
NextUp are equally delighted to announce their first major distribution arrangement – an agreement with Virgin Atlantic who will be featuring NextUp originals as part of their airline entertainment offer. In line with NextUp’s ethos to discover great new talent, Virgin Atlantic have chosen to initially showcase Brennan Reece, Tom Ward and Colin Hoult (as Anna Mann) with more titles to come later this year.
NextUp are also expanding their catalogue of original content having filmed six new specials in the last month. Most notably they will be releasing TV favourite Hal Cruttenden’s show, ‘Straight Outta Cruttenden’ in August – which the company recently filmed at the Leicester Square Theatre in London.
NextUp will be scouting talent at the Edinburgh Fringe in August and this will be followed by one more investment round later this year.
Since launching last November NextUp have filmed 28 original shows, and releases a new special every week. The company has garnered a 5 star average rating in both Android and Apple App stores, and has generated an ever-growing loyal membership of comedy fans.
NextUp are hugely supportive of comedy acts and the comedy industry, sharing a portion of the company’s revenue with acts on the channel and using initiatives such as their ‘Comics’ Fund’ – a bursary of up to £3000, designed to support performing, writing, educating, touring, promoting, celebrating, supporting, hosting and producing live comedy.
NextUp comedy acts include:
Hosted at NextUpComedy.com, NextUp’s monthly subscription costs £3.50 and comes with a 30 day free trial.