LOS ANGELES — January 19, 2017 — Two Bit Circus, an experiential entertainment company, today announced that it has closed $15 million in Series B funding. The investment was led by JAZZ Venture Partners, with participation from all existing investors: Foundry Group, Techstars Ventures, and Intel Capital. New investors include Dentsu Ventures, Georgian Pine and others.
The funding will be used to build a portfolio of next generation micro-amusement parks that will boast approximately 30,000+ square feet of immersive entertainment, including the latest in multi-person virtual reality and mixed reality, social play experiences, group games, molecular gastronomy, mixology, and of course, liberal use of lasers, fire, and robots. Each location will showcase cutting-edge high-tech entertainment and original content from Two Bit Circus and key brand partners. The first location will open in the company’s hometown — Los Angeles, California.
“Out of home entertainment hasn’t changed much since laser tag and mini-golf. The latest tech has just blown the doors open on a whole new world; changed what it means to play, and play together socially. People stress about tech pushing people apart, but we love watching it bring them together!” said Brent Bushnell, CEO and co-founder of Two Bit Circus.
“In the past, Two Bit Circus’ installations have been temporary and held primarily at large events and conferences. We’re thrilled to build our first permanent location in our backyard. Our band of scientists, artists, storytellers, and performers are excited to bring to life a world of year-round fun,” said Mad Inventor and Two Bit Circus Co-Founder, Eric Gradman.
John Spinale, General Partner at JAZZ Venture Partners and immersive experiences veteran, will be joining the board of directors.
With this investment, Two Bit Circus joins the Intel Capital Diversity Fund, a $125 million, five-year commitment to invest in startups led by diverse teams. Director Christine Herron led the investment for Intel Capital.
While waiting for the first park to open, intrepid souls may sign up HERE to request access to the Circus’ private beta nights, where they can experience and debug the troupe’s latest inventions and attractions. (Our attorneys require us to disclose that such bugs may include, but are not limited to, singed eyebrows, robot uprisings and accidental violations of physics).
About Two Bit Circus
Two Bit Circus is an experiential entertainment company using technology and spectacle to create immersive, social fun. Its public installations have included original virtual reality content and haptic activations worldwide at events including the Super Bowl and Olympics; interactive games for corporate events and conferences; and custom exhibits for Fortune 500 companies. Their STEAM Carnival has entertained tens of thousands and garnered a quarter billion media impressions to help inspire the next generation of inventors. The team of artists, inventors, educators and performers builds social games and experiences that aim to inspire, engage and reinvent the way people play. For more information, visit www.twobitcircus.wpengine.com or follow @TwoBitCircus.
About JAZZ Venture Partners
JAZZ Venture Partners invests in companies developing experiential technology that improve human performance. At the intersection of digital consumer platforms, such as virtual and augmented reality, and neuroscience, these companies are impacting health, mind-body wellness, peak mental and physical acuity, accelerated learning and training, sports, and entertainment. For more information, please visit http://www.jazzvp.com.
About Intel Capital
Intel Capital, Intel’s global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested US$11.8 billion in 1,470 companies worldwide, and 617 portfolio companies have gone public or been acquired. In the first half of 2015, Intel Capital invested $134 million in 63 deals, including 29 new portfolio companies, and saw 10 exits. For more information on what makes Intel Capital one of the world’s most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital.
Techstars is a global ecosystem empowering entrepreneurs to bring new technologies to market. Techstars manages more than $300M in investment capital and is currently investing out of their third fund, which is $150 million and focuses on Seed and Series A investments. The venture funds primarily co-invest alongside the venture capital and angel communities in Techstars accelerator program graduates, new companies started by Techstars alumni, and companies formed by Techstars mentors.
About Foundry Group
Foundry Group is a venture capital firm focused on investing in early-stage information technology, Internet, and software startups. In addition to providing the necessary venture capital to get a company up and running, Foundry Group is committed to leveraging their experience in starting and growing companies, expertise in the technology industry, and network of relationships to help great entrepreneurs turn great ideas into great companies. Foundry Group is based in Boulder, Colorado and invests in companies located across the United States. For more information, visit www.foundrygroup.com.
About Dentsu Ventures
Dentsu Ventures was established in April 2015 with the objectives of investing in ambitious start-up companies that will create an as yet unseen future and furthering open innovation across the Dentsu Group through collaboration with investees. For more information, visit http://dentsu-v.com/en/
About Georgian Pine
Georgian Pine is an investment firm supporting entrepreneurs in building emerging technology companies. With over 20 years experience, the firm’s principals have an expertise in helping companies that seek to operate between the United States and China. The principals have backed companies including Alphablox(IBM), Andale(BABA), Atheros(QCOM), BitAuto(BITA), CollabNet, Employease(ADP), Epinions(eBay), and Quantcast, as well as advised the CEO’s of Covestor(IBKR), Jaman, Shawei(Tom), and VUDU(WMT).
104 West for Two Bit Circus