GlobalComix has raised $6.5 million in a Series A funding round led by early-stage venture fund Point72, the company announced. The investment shows that in the wake of Amazon’s near-complete shutdown of digital comics pioneer comiXology as a separate entity early this year (see “Bloodbath at ComiXology“), the investors in GlobalComix believe there is opportunity in the now-vacated space for a comics market-facing digital comics company.
Point72 Ventures is associated with billionaire Steven A. Cohen’s Point72 Asset Management hedge fund. The round also included investment from talent and media agency holding company Endeavor and others.
The investment will be used to enhance the GlobalComix platform, according to GlobalComix CEO Chris Carter. “This funding will fuel our growth, broaden our reach, and deepen our commitment to creators and fans alike,” Carter said in a statement accompanying the announcement. “This includes delivering AI-powered tools that drastically improve creator workflow and productivity, while enhancing the reading experience for everyone, including previously underserved multi-generational audiences.”
GlobalComix co-founder and tech pioneer Robert Hoffer emphasized the benefits of Endeavor’s participation and the role of AI in the platform. “With strategic allies like Endeavor, we’re more than ready to pioneer a transformation in the digital comics landscape,” he said. “The future of AI-enhanced digital comics publishing will further support the GlobalComix mission of putting creators first. Our timely integration of AI tools throughout our ecosystem couldn’t be more opportune.”
GlobalComix, which operates on a subscription model, has been inking agreements with mid-sized comic publishers including Image Comics, BOOM! Studios, Archie, Tokyopop, Mad Cave Studios, Humanoids and other lines (see “Comics Hasn’t Gotten the Memo About ‘Startup Winter’“).
For more on GlobalComix and the potential to fuel growth in print comic sales through customers introduced to comics through digital, see columnist Rob Salkowitz’s take (see “GlobalComix Offers Signs of Life“).
Source: ICV2
