InstaVR Raises $5M Series B to Further Grow Its Enterprise VR Authoring Platform

InstaVR, a VR authoring, publishing, and analysis company, announced it has successfully closed a Series B financing round, which the company says will help further its mission in providing enterprise customers the tools to create their own VR apps. The company received $5 million, bringing its total funding to date to $7.2 million. Series B participants include YJ Capital, ITOCHU Technology Ventures, Mizuho Capital Partners, GREE Ventures, COLOPL NEXT, and The Venture Reality Fund.

InstaVR boasts that its software suite can help businesses “quickly and easily author interactive 360-degree VR apps and publish them for all major VR headsets, as well as desktop and mobile devices with a single click.” InstaVR’s no-coding approach to VR content creation aims to make content authoring and publishing on multiple VR platforms a simple process.
The company says in a recent blogpost that since its release in 2016, over 30,000 clients have used InstaVR to publish 200,000+ VR pieces of content, with clients including Toyota, Hilton, TUI Group, PwC, US Navy, and GOV.UK.
The company says the new funding round will be used to expand the InstaVR team and further invest in the company’s enterprise offering, InstaVR Central, which is aimed at larger businesses looking for VR-based employee training.

“As VR has gained more widespread adoption, companies are seeing the value of utilizing the technology for creating impactful and memorable immersive experiences, such as new employee onboarding and ongoing training,” said InstaVR Founder Daniel H. Haga. “This round of funding helps InstaVR accelerate our plans to empower major corporations and organizations to more fully realize the benefits of VR.”
Businesses looking to try the software for free can sign up here, which includes support for Gear VR and Android/iOS Cardboard. The full, paid suite can output to Oculus Rift, HTC Vive, Google Daydream, Gear VR, Oculus Go, Android/iOS Cardboard and standard monitors.

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Source: InstaVR Raises M Series B to Further Grow Its Enterprise VR Authoring Platform