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No Quiet On MovieSet With $2M Funding
By Ty McMahan 6/10/2008
MovieSet Inc., a Web platform that is one part workflow tool for film producers and one part behind-the-scenes peek for fans, has secured a $2 million first tranche of a $5 million Series A.
Rho Capital committed the full $5 million, based on the company reaching certain milestones.
MovieSet looks to redefine film marketing, aiming to be the premier online destination for "behind-the-scenes" access to films in production, while offering a toolkit that brings production efficiently online and simultaneously connects producers with film fans.
"It's about the journey of the film being made," Chief Executive Colleen Nystedt said.
After years of experience as a production manager, Nystedt said she recognized that marketing and distribution of feature films needed to be re-conceptualized in the Internet age, which led her to develop what has become MovieSet.
"It started a few years back when I started to think about how we could reach an audience in the earliest possible stages," Nystedt said.
Nystedt said the recent round of funding will be used to complete the software development. The company also plans to open offices in Los Angeles and New York.
The Vancouver-based company plans to generate revenue through targeted advertising, product placements and e-commerce such as reselling props and costumes from movies.
The site featured 100 films before the Cannes Film Festival and managed to sign an additional 70 films at the festival. While the early focus has been on independent films, the company is already in talks with the major studios.