Theatrical-exhibition marketer Tugg Inc. said it has closed its Series A funding in a round led by production and distribution company Broad Green Pictures. The additional money will allow Tugg to expand its sales force and development efforts as part of a multi-year product plan. The company did not disclose the amount of capital raised in the round from both existing and new investors, but termed it “significant,” and said the company would remain independent.
Tugg partners with filmmakers, studios and exhibitors to connect with potential movie attendees and let them influence what theaters will show a film. The company has a national network of influencers and promoters who build audiences for films at specific venues, allowing for more targeted marketing and distribution. It claims relationships with the exhibitors owning 85 percent of U.S. screens, including such giants as Regal, AMC and Cinemark.
Richard Linklater To Shoot Stephen Sondheim Musical 'Merrily We Roll Along' Over 20 Years For Blumhouse
“As an industry, we’re still realizing how powerful content marketing can be when combined with direct-to-fan sales and promotion,” said Tugg CEO Nicolas Gonda.
“BGP is committed to providing its filmmakers with the absolute best distribution and marketing tools to reach the largest audience possible and Tugg has merged film and technology in a way that empowers both filmmakers and movie-goers to control their theatrical movie-watching experience,” said Broad Green co-founders Gabriel and Daniel Hammond in a statement. “Tugg provides studios the tools to increase our advertising spends to support our exhibition partners where the films are going to best perform.”
BGP expects the investment will allow Tugg’s tools to broaden their reach and accommodate wider releases for bigger-budget films, allowing studios to better target their marketing spend where audiences are showing the most interest.
Tugg’s advisory board includes directors Richard Linklater, Ben Affleck and Brett Ratner, Focus Features Distribution President Jim Orr, Facebook co-founder Andrew McCollum and C3 Presents founder Charlie Jones.
Broad Green was co-founded by Gabriel and Daniel Hammond. Other investors in the round include: Aspiration Investment Group, Preferred Ventures, freecreditreport.com Founder Ed Ojdana and former Facebook Chief Privacy Officer Chris Kelly and Western Capital Ventures. Deal advisors were Baker Botts & KHRG.
Subscribe to Deadline Breaking News Alerts and keep your inbox happy.