LOS ANGELES, Sanctuary, a provider of online astrological services, has raised $1.5 million in seed funding.
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Sanctuary, a digital media company that will focus on astrology, tarot, numerology, and magick for millennial audiences, announced today it has secured $1.5 million in seed funding led by Advancit Capital with additional participation from Broadway Video Ventures, Greycroft Partners, KEC Ventures and Blue Collective.
Supernatural and psychic services are a $2.1B market that has existed for centuries, yet the business side remains relatively unchanged. 34% of American women read their daily horoscope at least once per month and 41% share their horoscope with friends, but the industry has yet to enter the digital age, relying on eighty seven thousand small business entrepreneurs who consult in person with limited marketing and digital offerings.
Mysticism For The Modern Age
Sanctuary's automated Facebook Messenger experience, Live (Tarot) readings, personalized forecasts, mystical experiences and other related media products will release throughout 2018. Sanctuary will provide the most robust but approachable modern mystical services online and via mobile devices.
"Mainstream media has yet to successfully embrace the enormous opportunities associated with mystic services," said Jason Ostheimer Partner, Advancit Capital. "Sanctuary's platform will finally be able to address this underserved audience."
"Curiosity around centuries old alternative spirituality by a younger audience has never been more pronounced; it's time for people to have easy access to authentic, premium services," said David Birnbaum, President, Broadway Video Ventures.
Sanctuary is the first global media lifestyle brand, serving people interested in horoscope, tarot and the supernatural. With a universe of more than eighty seven thousand individual psychics, astrologists and readers, Sanctuary curates a community and brings the brightest mystic stars to the digital media world, helping younger audiences discover the supernatural tools to combat the existential angst of the modern world. To learn more, visit www.sanctuaryworld.co.
About Broadway Video Ventures
Broadway Video Ventures is the investment vehicle and digital media arm of Lorne Michaels' Broadway Video. BVV targets early and growth stage investments, acquisitions, partnerships and joint ventures across the media, entertainment, and technology sectors, seeking to leverage and enhance Broadway Video's existing content and distribution businesses. In addition, BVV incubates new businesses, notably Above Average and Waggle.