After the announcement, the group surpassed $100k in investment in under 48 hours. The investment fund has raised $247,542 as of writing, on top of more than $2 million on crowdsourcing, per the company.
StartEngine has previously ranked Pencilish at the second spot for most momentum on its site at a given time.
"Utilizing an advisory board consisting of alumni from Disney, Warner Brothers and Sony, Pencilish is able to create content that can compete with large, monopolized animation studios," a release says about the animation group stationed in Williamson County.
"The difference between Pencilish and the aforementioned studios is that Pencilish gives part ownership to creators, when most studios don’t. In combination with this and investors sharing ownership in the company, Pencilish sets itself up for a unique and successful future."
Pencilish Animation Studios opened for their first round of investment in December of 2020 through WeFunder. In this round, the company earned a total of roughly $2.2 million in investment.
Since then, Pencilish has gone into production on three series so far, releasing Bjorn the Last Unicorn Episode 1, Mind Over Murphy Episode 1 and JuJu Brain Episode 1, which was released on July 22.
With these releases and much more, Pencilish has begun to grow a following on social media. The company says the "following’s love for Pencilish gave the animation group the confidence to open for a second round of investment, and plans to move into Phase 2." Phase 2 will include new series productions.
“Thanks to the support of over 4500 investors from our first raise, we were able to have an amazing start with $2.2 Million seed investment,” said Tom Bancroft, CEO of Pencilish and a former animator for Disney who worked on films like Mulan, The Lion King and Aladdin.
"With this StartEngine second offering, Pencilish Studios will be able to grow and move into Phase 2 development and new series. Our first year saw huge growth in our following and new productions! Our investors 'get' that this is the first time that fans and investors can join Disney animation vets in creating new animation intellectual properties that they can own a part of. This is the second step in Pencilish Studios’ animation revolution.”