Le Lézard
Classified in: Science and technology, Business
Subject: FNC

Scope AR Closes $9.7 Million Series A Funding to Help Make Any Worker An Instant Expert with Augmented Reality


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 Castle have 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.

Media Contact:
Brittany Edwards
Carve Communications for Scope AR
Email: [email protected] 
Phone: 210-382-2165

 

SOURCE Scope AR


These press releases may also interest you

at 17:00
via IBN - Nilam Resources, Inc. today announced that it has appointed Pranjali More as Interim Chief Executive Officer and addresses current developments regarding trading status and the status of the agreement with Xyberdata and Mindwave. Prior to...

at 17:00
Cielo Waste Solutions Corp. ("Cielo" or the "Company"), a renewable fuel company leveraging market ready licensed technology to produce low-carbon fuel from wood by-products, today announced its financial results for the three and nine months ended...

at 17:00
Inventronics Limited ("Corporation") (IVX:TSX Venture), a designer and manufacturer of enclosures for the telecommunication, cable, electric distribution, energy, and other industries in North America, today announced its 2023 audited annual and...

at 16:45
Chicago Rivet & Machine Co. today announced audited results for the year 2023 as summarized below: CHICAGO RIVET & MACHINE CO. Summary of Consolidated Results of Operations For the Years Ended December 31 2023 2022 Net sales $31,507,722 $33,646,033...

at 16:41
In celebration of Trans Day of Visibility, Equalpride is proud to announce a partnership with TransLash Media for the release of a short film series on Advocate Channel, ARTISTIC LEGACIES....

at 16:40
Pomerantz LLP is investigating claims on behalf of investors of DraftKings Inc. ("DraftKings" or the "Company") . Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980....



News published on and distributed by: