Vertebrae Announces VR Ad Technology Platform, Secures $10m Investment
For virtual reality (VR) to continue to succeed publishers and developers need not only investment, but also to make money from their projects to continue creating more. With VR’s growing user base this will become easier over time, but in the meanwhile content creators have to look at ways of drawing in capital. One of those ways could be advertising and today Vertebrae has announced the launch of its VR advertising technology platform.
Vertebrae enables a range of ad supported monetization options for VR publishers, with plans to extend into augmented reality (AR). Currently Vertebrae is gearing the platform towards publishers being advertisers, so the company can help videogame studios and content developers tell short form stories whilst learning what does and what doesn’t work.
With a large team of dedicated engineers building the platform from the ground up for VR, Vertebrae is currently running a private beta for use by several companies, offering native ad insertion with a range of fully immersive and interactive ad formats.
“We believe the creative potential of the VR medium will revolutionize the advertising industry, and unlock a level of brand engagement that amplifies the user experience with true VR presence” said Vincent Cacace, CEO and founder at Vertebrae. “Vertebrae aims to create an enhanced ecosystem where new formats of intensely creative advertising support compelling VR content, enriching consumers’ overall experience. We’re excited to help foster and grow the creative ecosystem of VR.”
The company has also revealed its managed to raise $10 million USD in a Series A funding round, enabling it to hire more talent and continue its R&D.
“Instead of approaching VR advertising in a traditional manner with 2D ad formats contrived to fit in a 3D medium, Vertebrae has shown tremendous insight into supporting high quality advertising experiences that are tailored specifically to showcase the power of virtual reality,” said Andy Goldstein, CEO at Otherworld Interactive, a company and Vertebrae client specializing in the development of virtual worlds for entertainment, music and games.
Vertebrae has been working closely with Lionsgate to unveil its VR ad for the upcoming premiere of Blair Witch. The Blair Witch VR ad trailer is a 90-second experience built to promote awareness and interest in the upcoming film, bringing consumers to theatres.