SpherePlay, a Montréal-based developer of media player software and video rendering engines, has raised $1.26 million in funding. The round was backed by 16 members of Québec angel network Anges Québec, Anges Québec Capital Fund and BDC Capital. SpherePlay has created a multi-platform solution that allows broadcasters and media companies to distribute virtual reality content on their own platforms. Launched in 2014 by CEO Christian Eve-Lévesque and CTO Stéphane Lévesque, the company will use the funds raised to continue optimizing its product and accelerate deployment.
SpherePlay benefits from a $1.26 million investment from Anges Québec investors, Anges Québec Capital and BDC
Montreal, November 8, 2017 – Anges Québec announced today a major investment of $1.26 million in SpherePlay to support the development and marketing of the company’s products. The investment is the result of the participation of 16 investor members of Anges Québec and other investors including the Anges Québec Capital Fund which supports financially the members of the Anges Québec network and BDC.
“The participation received by SpherePlay through this announcement takes place at the right time at this stage of our growth. We plan on leveraging the precious support of our angel investors, Anges Québec Capital and BDC to continue optimizing our star virtual reality product and speed up its deployment in order to maximize its reach and offer an ever more fluid and highly performing experience to our clients and users”, said Christian Eve-Lévesque, President of SpherePlay.
SpherePlay, an innovating company in a promising sector
SpherePlay is a Montreal start-up which develops, among other products, a complete technological solution that allows broadcasters and media companies to distribute virtual reality content on their own platform (web, smart TV, mobile, etc.), easily and quickly.
“SpherePlay has developed a unique multi-platform solution and has already had some big wins in implementing their virtual reality technology with major industry players. It has been a great pleasure working with Christian and SpherePlay’s co-founder Stéphane Lévesque. They are customer-focused entrepreneurs with a deep understanding of this exciting and rapidly evolving sector”, stated Eric Lankinen, Angels’ co-lead investor and founding Partner of HexaB Consulting.
“Not only does SpherePlay offer cutting-edge technology products, it also has a solid and inspired business vision. Anges Québec Capital is happy to financially support SpherePlay’s projects and benefit along with it from the opportunities we see in the future of virtual reality”, said Kalthoum Bouacida, Vice-President, Investment at Anges Québec Capital.
“BDC’s involvement is part of our desire to get directly involved in the virtual reality adventure, a technology and market full of potential. We have been following closely the evolution of SpherePlay for some time, and are impressed with the strategies and execution put forward by its entrepreneurs, led by Christian Eve-Lévesque”, explained Jean-Michel Domard, Senior Account Manager, Technologies Group at BDC.
Founded in 2014, SpherePlay has for mission the development of innovative technological solutions that deliver enriched immersive experiences with a maximum of realism, fidelity and user-friendliness. SpherePlay allows most notably media companies to distribute interactive virtual reality (VR) video experiences directly from their existing applications and websites. Based in Montreal, SpherePlay has more than two million downloads of its various applications, and licenses its technological platform worldwide. For more information, please visit www.sphereplay.com.
About Anges Québec Capital
Anges Québec Capital is an investment fund created to financially support the members of the Anges Québec network. Sponsored mainly by Investissement Québec, Caisse de dépôt et placement du Québec and Fonds de solidarité FTQ, the fund supports financial angels who invest in innovating start-ups, with $86M put at the disposal of entrepreneurs, allowing them to benefit from more substantial financial leverage in order to considerably increase the development of their enterprise.
BDC is the only bank devoted exclusively to entrepreneurs. It promotes Canadian entrepreneurship with a focus on small and medium-sized businesses. With its 118 business centres from coast to coast, BDC provides businesses in all industries with financing and advisory services. Its investment arm, BDC Capital, offers equity, venture capital and flexible growth and transition capital solutions. BDC is also the first first financial institution in Canada to receive B Corp certification. To find out more, visit bdc.ca.
About Lead Angels
Eric Lankinen is a senior business executive with international experience in operations management, strategic leadership, growth and change management, and mergers and acquisitions. After 25 years with BCA Research an international independent investment research provider, he co-founded HexaB, a management consulting boutique that help businesses transform in order to move to the next level.
Steven D. Shelton has 25 years of experience in worldwide financial markets with banks such as Goldman Sachs. In 2010, he started his own Family office called KSKS Partners which has three divisions: real estate, private equity and asset management. In a very short time, the private equity division has mostly invested in operating and non-operating companies related to the sports and entertainment industries. M. Shelton is CEO and Founder of MySeat Media, a leading Fan Engagement and e-commerce mobile platform for the sports and music industry that has just sold 50% to a LA based Entertainment company. He is also an avid collector in the world of wines and sports.
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