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Coldtowne formed in March of 2005 from members of two Comedy Conservatory student teams in New Orleans, Louisiana. For several months, they performed weekly at one of the Crescent City's premier theater venues, Le Chat Noir, becoming key players in the city's budding comedy improvisation scene.

After Hurricane Katrina, five of ColdTowne's eight members fled to Austin, Texas, living together, begging for food together, and building a group mind that borders on codependence. Performing at Austin's Out of Bound Improv Festival, Coldtowne established their new existence as relentless and adaptable performers, come hell or high water. Since then, Coldtowne has performed long-form improv regularly at Austin's Hideout Theater, won "Best Improv Group" in the Austin Chronicle Readers Poll, and opened their own theater and training center.

The Residents of ColdTowne come from a variety of backgrounds: Absurdist Art, Journalism, Vocal Acrobatics, Hip Hop Music and Old Money. Together they populate ColdTowne with long- and short-form improv, sketch, stand-up, screenwriting, guerilla film, music and lots of nerdy blogging.