Venture Capital News: Pixvana Inks $14M Series A Round
SEATTLE, WA, Pixvana, an XR (VR/AR/MR) technology startup, announced its Series A funding of $14 million.
The round was led by Vulcan Capital with participation from new investors Raine Ventures, Microsoft Ventures, Cisco Investments and Hearst Ventures, and existing investor Madrona Venture Group. Pixvana's mission is to enable anyone to create and distribute next-generation video experiences. SPIN Studio, Pixvana's cloud-based storytelling platform, uniquely accelerates the production and delivery of interactive XR content at 8K resolution.
"We are thrilled to work with this amazing group of investors backing us, to realize our vision of XR storytelling," said Forest Key, Pixvana CEO. "Faster iteration and blending of video and 3D content will allow creatives, brands and media companies to create amazing XR experiences. More announcements like the recent devices for Windows MR and Oculus Go will create a rapidly expanding market for XR video experiences."
"There is tremendous opportunity in the XR video space and it is clear that outstanding content and storytelling tools will define this new medium," said Stuart Nagae, General Partner, Vulcan Capital. "We think that Pixvana has an extraordinary team that really understands how to deliver cinematic, immersive experiences in XR and can build a SaaS business at scale."
"Pixvana's tools help others create immersive, next-generation video experiences for work and play," said Lisa Nelson, Managing Director, Microsoft Ventures. "We look forward to supporting Pixvana as they help usher in the next big platform shift to mixed reality."
With ubiquitous headset support and direct integration to leading XR platforms, SPIN Studio handles everything from stitching, editing, publishing, and playback in one seamless workflow. SPIN Studio offers creative tools for XR storytelling, including customized templates and interactive hyperports. All SPIN customers can access Pixvana's state-of-the-art encoding system that renders up to 8K stereo content using patented FOVAS (field of view adaptive streaming) technology and streams high-quality experiences on the latest Windows MR devices from Microsoft partners along with Rift, Vive, Gear VR, Daydream, and more.
Sign up for a free SPIN Studio account at pixvana.com.
Pixvana is a Seattle-based software startup that makes it easy for anyone to create next-generation video experiences. Their cloud platform SPIN Studio is the first end-to-end solution for authoring and delivering virtual, augmented, and mixed reality video content. The company is Seattle-based and venture-backed by Vulcan Capital, Madrona Venture Group, Microsoft, Cisco Investments, Raine and Hearst Ventures. Pixvana's founders have proven startup success in media technology, and hail from senior product and engineering leadership roles at Apple, Adobe, Microsoft, and Lucasfilm. For more information visit www.pixvana.com.
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