Merchandise sales management platform atVenu has secured US$1.1 million in a seed-stage financing round, according to the company’s blog. The deal was led by Canadian venture capital firm Real Ventures.
Proceeds of the investment will be used to grow atVenu and develop its technology platform and client base.
Based in Sausalito, California, atVenu provides real-time financial data tools to support product sales by artists at their live performances. Last year, the company launched its atVenu Merch Manager platform and has since attracted 600 artists. Artists using atVenu’s web and mobile app collectively sold over US$52 million in merchandise and music in 2013, according to the company.
The Montréal-based Real Ventures invests in early-stage IT and Internet-focused companies. The firm recently disclosed to peHUB Canada that it is gearing up for the first close of its third partnership, Real Ventures III, which is targeting $100 million.
Real Ventures was one of four “high performing” Canadian VC firms awarded $50 million by Ottawa’s newly-minted Venture Capital Action Plan (VCAP) in late 2013.
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