Comedy streaming platform NextUp has announced a new financing round, led by existing investors Velocity Technology EIS Fund.
NextUp streams over 130 stand-up comedy specials and recently announced the doubling of their content output from one show per week to two.
The subscription video market is worth £19 billion globally and has seen an influx of specialist services, including Shudder for horror, HayU for reality and Crunchy Roll for anime.
The only such service for comedy, NextUp has partnered with Virgin Atlantic, South Western Railway, Amazon Channels and Apple.
The company said since NextUp’s previous investment round in 2018 its has increased 175 per cent. The total round amount is £600,000 EIS of which £250,000 remains.
Velocity Capital Partners’ Raj Saxena said: “We’ve seen the inner-workings of NextUp since we first invested in 2017. They have an incredibly capable team, a fantastic product and are facing perfect market conditions to grow NextUp into something very special indeed.”
