Toronto-based TimePlay, which builds interactive experiences for cinemas and arenas, has raised its first tranche of Series A financing of $8 million.
The tranche was closed through a group of undisclosed accredited investors through Cranson Capital Securities. TimePlay is well-known in Canada for being part of Cineplex’s pre-movie show, where moviegoers play games displayed on the movie screen through their phone to compete for prizes. It operates on over 725 screens at Cineplex theatres across the country.
“What we have here is a groundbreaking technology that the world deserves to know about, and this new round of funding will allow us to continue to do that,” said Jon Hussman, president and CEO of TimePlay. “We’ve had a very positive response from moviegoers who love the fact that they can actively engage with brands and play along on the big screen while waiting for their movie to start.”
TimePlay will use part of the funding for US and global expansion, and pursue new verticals. TimePlay recently signed an agreement with Screenvision Media, a cinema media company in the US. The company has deployed its technology on over 1,000 screens in North America to date.
“TimePlay campaigns have resulted in strong engagement compared to traditional advertising campaigns,” said Hussman. “Closing this last round will allow us to seek additional partnerships and continue to bring best in class interactivity to venues and consumers across the U.S.”
