Fullcube, a startup that’s developed technology that helps partners integrate and automate subscription-based OTT and digital offerings, said it has completed a $1.15 million seed round of capital from angel investors.
Charlotte, N.C.-based fullcube, a company with 11 employees focused on the “subscription economy,” said it will use the funds to grow its client base and flesh out the features and capabilities of its platform. Its announced clients include The Enthusiast Network and its Hot Rod Network brand (for a range of print and/or digital subscriptions that also build in deals and discounts for other products), as well as Turner Classic Movies.
Fullcube was spun out about 18 months ago after helping to develop a premium subscription program for NASCAR and its fans, company CEO David Hickson said.
Fullcube, he said, recognized a way to create a variety of premium bundles for a specific group of consumers that can tie together different types of assets, including video, digital photos, and even discounts or preferred seating at events.
“We can help our partners [target] the subscription economy by building out a hierarchy of offerings that can be marketed to that enthusiast base,” Hickson said, noting that brands can hinder their ability to grow if they focus only on a single subscription offering.
Offering multiple types of subscriptions, when driven via fullcube’s automated workflow, allow partners to upsell and downsell products to consumers, “based on their fanaticism,” he said.
TCM hasn’t announced its multi-tiered subscription offering that will be powered by fullcube, but “it will be a very powerful program,” Hickson predicted, noting that programmers are trying new ways to develop over-the-top and SVOD services. “They are highly motivated to create something that can be offered in addition to the linear stream,” he said.
Fullcube doesn’t have any current plans to seek a larger “A” round, as the company expects the new seed round will help fullcube reach profitability by this August, Hickson said.