Blumhouse, NBCUniversal Reinvest in Horror Startup Crypt TV
The company founded by Jack Davis and Eli Roth has raised $6.2 million from a group of investors that includes Lerer Hippeau and Advancit Capital.
Digital network Crypt TV has raised $6.2 million from a group of existing investors that includes Blumhouse Productions and NBCUniversal to fund its production of horror and genre content.
Other investors in the series A round include Lerer Hippeau and Shari Redstone's Advancit Capital. Lerer Hippeau led a $3.5 million seed funding round in Crypt TV in 2017 that included participation from NBCU and Advancit.
Founded by Jack Davis and Eli Roth in 2015, Crypt TV has developed a slate of monster-centric IP, including digital series Look-See, Sunny Family Cult and Crypt Fables. Crypt distributes its content across YouTube (579,000 subscribers) and Facebook (7.5 million fans). It has also developed a fictional character, Giggles the Clown, who has more than 375,000 followers on her Facebook page and 47,000 followers on Instagram.
"Crypt is laser focused on creating iconic monsters like Freddy Krueger that can last for generations," said Davis, who serves as CEO. "This new round of financing allows us to move freely in responding to fan demand to make more and longer episodes and seasons around monsters our fans love like Sunny Family Cult and The Look-See."
Crypt plans to use the funding to invest in longer shows and new characters that can grow its world of monsters onto new networks. The company is also looking at ways to bring its IP to new formats, including podcasting, AR and VR. Further, it will invest in growing its data and distribution team.
Blumhouse founder and CEO Jason Blum added, “Jack and the Crypt team have an amazing track record of building compelling, scary IP that connects with young people on mobile. They are well on their way to creating a true digital universe of captivating characters with storylines that resonate with young audiences around the world. Blumhouse has been a strong supporter of Jack’s vision from the very beginning and we are excited to play a role in Crypt’s continuing evolution."