I’m ecstatic to announce that Scope AR has raised a $9.7M Series A! This follows a strong year for Scope AR and we’re on track to have an even better 2019. We’re so excited to have the resources we need to grow and to take advantage of the amazing opportunity that lies before us, which is nothing less than transforming how people perform work in the heavy industries. We’re just at the beginning of the journey with augmented reality-enabled applications, and we have a clear and expanding vision of what is needed to become the global leader in workforce knowledge management.
When we built our first augmented
reality project back in 2012, we were blown away by the market
opportunity that presented itself, and today is another milestone in
enabling front line workers to receive the information they need to do
their jobs more effectively. It’s only a matter of time before this
technology is in the hands of every blue-collar worker, and it’s
extremely exciting to be on the front lines of this world-changing
technology, particularly with the recent advances in hardware which are
finally allowing our dream to come to fruition.
In 2018, Apple and Google both got
into the AR game with ARKit and ARCore, and Microsoft made a big push
with their Hololens headset. With the support of these hardware players
and billions of devices ready to take advantage of this amazing
technology, AR seems ready to take off, and Scope AR is poised to take
advantage of this changing landscape. The core ethos around the company
is knowledge transfer – getting knowledge into a worker’s hands as soon
as possible, enabling them to have the knowledge they need, when they
need it. We have accomplished that goal in a couple of core
capabilities:
Remote AR (Remote Assistance), the
first AR-enabled remote assistance app, which allows a front-line
technician to obtain knowledge and collaborate with someone who has that
knowledge in real time, with the enabling technology of augmented
reality providing that key communication medium that you just don’t get
with FaceTime or Skype.
WorkLink,
the first no-code authoring platform, which allows non-technical users
to create intuitive, visual work instructions for virtually any worker
to receive intuitive, visual guided instructions for the purposes of
training, maintenance, or assembly.
And we aren’t done yet! Stay tuned for some great announcements in the next few months.
Continuing to look ahead, Scope AR
will use this round of capital to grow our sales and marketing teams, as
well as our development teams. We have an extensive roadmap to build to
become the global leader in workforce knowledge management. To help
guide us in this journey, I’m extremely happy to welcome Wayne Hu of
SignalFire and Krishna K. Gupta of Romulus Capital to the board of
directors.
I’m very excited about the future and what we’ll be able to achieve with these additional resources. And if you’re looking to join a rockstar team with huge ambitions to change the world – we’re hiring!
Thriving enterprise AR company continues growth and demonstrated
success with Fortune 500 leaders including Lockheed Martin and Unilever
SAN FRANCISCO, March 20, 2019 /PRNewswire/ — Scope AR, the pioneer of enterprise-class augmented reality (AR) solutions, today announced it has secured a $9.7 million round of Series A funding. The round was led by Romulus Capital, with follow-on investment participation from existing investors SignalFire, Susa Ventures, Haystack, New Stack Ventures, North American Corporation and Angel List. Krishna Gupta of Romulus Capital and Wayne Hu from SignalFire will join Scope AR’s Board of Directors.
“AR is becoming an important tool for how knowledge is shared within
heavy industry, allowing workers to get the information they need, when
they need it, in an intuitive way,” said Scott Montgomerie,
CEO and co-founder of Scope AR. “We are thrilled to have the support of
our new and existing investors to accelerate our growth and development
during a crucial inflection point in the market. It underscores, yet
again, that enterprise AR is a leading driver within mixed reality
thanks to the impressive ROI and growing list of use cases the
technology enables.”
With this latest infusion of capital, the company has a raised a total of $15.8 million, which will allow the company to further scale and expand enterprise AR adoption in a time when the industrial workforce is shifting and machinery and equipment are becoming increasingly complex. The company is among the first to deliver noteworthy ROI from real-world customer use cases across aerospace, consumer packaged goods and manufacturing industries. Using the company’s products – WorkLink and Remote AR – industry leaders such as Lockheed Martin, Unilever and Prince Castlehave achieved impactful results around improving worker efficiencies, reducing equipment downtime and more accurately diagnosing repair issues.
“Enterprises are now realizing that leveraging AR and other agile,
remote software solutions can be the answer to many operational
challenges they have always faced — from closing the growing skills gap
to reducing downtime,” said Krishna K. Gupta,
founder and general partner of Romulus Capital. “Scope AR’s product
leadership and vision has put them at the forefront of the industry,
addressing these challenges with tools that provide workers with instant
access to critical information that helps resolve operational issues in
an agile and accurate manner. We’re excited about their product roadmap
and growth opportunities as we work more closely with some of the
largest enterprises in the world.”
About Scope AR Scope AR is the pioneer of enterprise-class augmented reality solutions, delivering the industry’s only cross-platform AR tools for getting workers the knowledge they need, when they need it. The company is revolutionizing the way enterprises work and collaborate by offering AR tools that provide more effective and efficient knowledge-sharing to conduct complex remote tasks, employee training, product and equipment assembly, maintenance and repair, field and customer support, and more. The company’s device-agnostic technology supports smartphones, tablets and wearables, making it easy for leading organizations like Boeing, Toyota, Lockheed Martin, Honeywell, Assa Abloy, GE and others to quickly scale their use of AR to any remote worker. The company was founded in 2011 and is based in San Francisco with offices in Edmonton, Canada.
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