Just over a year ago Immersv announced its advertising platform for virtual reality (VR) and mobile devices with the aim of helping consumers discover VR apps and content. Today, the company has revealed the completion of a $10.5 million USD Series A round of financing.
Led by Rogers Venture Partners, the round also featured institutional and strategic investors such as Foundation Capital, The Venture Reality Fund, Initial Capital, East Ventures, HTC Vive, MCJ Co. Ltd., GREE, i-mobile, Metaps, and Gigi Levy. Rogers Venture Partners General Partner, Paul Sestili, and Gumi’s Founder and CEO, Hironao Kunimitsu, have joined Immersv’s Board of Directors.
“Immersv is the leader in the next wave of interactive digital advertising,” said Sestili in a statement. “Mobile 360 and VR advertising provides some of the highest view completion rates, click through rates, and overall engagement rates for both brands and performance advertisers. As the central marketplace for buying and selling these new ad formats, Immersv is well positioned to drive significant value for both advertisers and publishers.”
The new finance will enable Immersv to accelerate product development and deployment, expanding its inventory through direct Publisher as well as SSP integrations, and bring global brands and performance marketers into Mobile 360 and Virtual Reality.
Recently the company signed programmatic deals with more than 15 of the world’s largest Demand Side Platforms (DSP’s) and Supply Side Platforms (SSP’s). Partners now include Tremor Video, YuMe, Bidswitch, ironSource, Supership and United in Japan.
“We’re excited to partner with some of the finest institutional and strategic investors in the world,” said Mihir Shah, President and CEO of Immersv, Inc. “While the mobile video market continues to grow, we believe interactive advertising experiences will displace the current video advertising market in the next few years providing better results for advertisers, higher yield for publishers, and a significantly better experience for consumers.”
VRFocus will continue its coverage of Immersv, reporting back with the latest developments.