Venture Capital News: Xperiel Pulls In $7M Series A Funding
SUNNYVALE, CA, Xperiel, inventor of the Real World Web (RWW) platform, today announced $7 million in Series A funding.
The financing includes new investments from Scott Cook, Co-Founder of Intuit, Cyan Banister of Founders Fund, WTI and the National Basketball Association's Sacramento Kings.
The new investment will fuel the company's growth and expansion into markets beyond sports technology. With this additional funding, Xperiel will be well positioned to help businesses deploy Xperiel's patented RWW platform and easily integrate augmented reality (AR) and Internet of Things (IoT) devices into their existing brick-and-mortar infrastructure to enrich their customer engagement strategies.
"Today's consumers are rejecting traditional advertising while embracing AR, IoT and other interactive technologies," said Cyan Banister, Partner at Founders Fund. "We believe that Xperiel's approach of integrating these innovations into existing architecture creates endless opportunities for brands looking to stand out from increasingly sophisticated competition."
"The enhanced Sacramento Kings experience extends off the court and into the hands of our guests through their devices," said Kings Chief Technology Officer Ryan Montoya. "Xperiel's advancement in linking next-generation technology with real-time data, an array of sensors and beacons in a device agnostic platform represents the future of customer engagement and we're thrilled to be a part of their growth beyond sports."
With the non-video game AR market expected to grow to $23.4 billion by 2025, many companies in healthcare, engineering, retail and real estate are already exploring the best way to integrate new technologies and provide new interactive experiences to their customers. However, due to the immersive nature of experiential advertising and marketing, making these experiences flexible and inexpensive has always been a challenge, especially with the proliferation of different mobile devices.
Xperiel provides the tools needed to connect technologies like AR, VR, and IoT with existing infrastructure and offer experiential content through mobile devices. Xperiel does this by creating a digital layer for existing virtual and physical infrastructure to render the whole world interactive. This layer creates the Real World Web, a place where consumers can have meaningful, relevant interactions with their favorite brands natively on their favorite mobile devices.
"AR and IoT technologies have been siloed from the tools and processes that can expand their capabilities. This lack of interconnection is why we started Xperiel -- to create a layer that helps companies connect the physical and digital worlds and provide mixed-reality experiences for consumers across any OS or mobile device," said Alex Hertel, CEO and Co-Founder of Xperiel. "We are grateful that our new and existing investors see the value in providing everyone with the tools needed to build their own corner of the Real World Web and look forward to bringing our platform to new markets, including healthcare and large consumer brands."
Today's modern consumers are unreachable by traditional engagement methods because they demand more interactive, authentic experiences with the brands they love. These experiences occur where the physical and digital worlds connect, the place Xperiel calls the Real World Web (RWW). In Xperiel's RWW, and through the company's platform, brands can use new, powerful and patented technology that can reach customers within the completely connected, social and mobile world they live. Started by the inventors of the first mobile payment technology that became Google Wallet, Xperiel allows brands to quickly create interactive, immersive digital experiences for consumers that result in deeper, more meaningful interactions. Companies in professional sports, entertainment, retail and other industries, including the New York Jets, Sacramento Kings, Los Angeles Dodgers and Pepsico, use Xperiel to maximize the value of their digital investments and design immersive applications that work across any device or operating system. Xperiel has seen active user engagement that is 20X higher than Snapchat, Twitter, Instagram, and Google, demonstrating that it is meeting the needs of the most demanding modern consumer.
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