Adaptive Studios announced today a $16.5 million funding round led by AMC Networks and Atwater Capital.
The production company behind HBO’s Project Greenlight and the Netflix feature Coin Heist will allocate funds to produce new traditional and digital projects. To date, Adaptive — which was founded by Marc Joubert, Perrin Chiles, and TJ Barrack (pictured above) in 2013 — has created programming for Verizon, Miramax, FX, YouTube Red, Fox Animation, Lionsgate, and Blackpills. The studio has notably honed a unique premise whereby it taps writers to turn other studios’ discarded scripts into novels, and then re-adapts those works into series and films.
“AMC Networks views this investment as a key component as we expand our expertise beyond premium long-form scripted television into developing and producing short-form and other types of content for all platforms,” CEO Ed Carroll said in a statement. AMC owns BBC America, WE tv, SundanceTV, and IFC.
Adaptive Studios has raised a total of $25 million to date, according to Variety. Previous investors from a December 2013 Series A round — who also participated in the Series B — include Colony Northstar’s Thomas J. Barrack Jr., Leucadia National‘s Joe Steinberg, Elevation Partners’ Roger McNamee, 2929 Entertainment’s Todd Wagner, Magnolia Pictures, and Landmark Theaters.