Scope AR, a San Francisco- and Edmonton-based provider of industrial augmented reality (AR) solutions, has raised about $13 million (US$9.7 million) in a Series A financing.
The round, which brings total funding to $21 million (US$15.8 million), was led by U.S. venture capital firm Romulus Capital.
It was joined by existing investors SignalFire, Susa Ventures, Haystack, New Stack Ventures, North American Corp and Angel List.
Founded in 2011 by CEO-CTO Scott Montgomerie, President David Nedohin and Principal Graham Melley, Scope AR creates AR tools to help enterprises conduct remote tasks, training, product and equipment assembly, maintenance and repair, and field and customer support.
The company will use the funds raised to accelerate growth and development.
Scope AR Closes $9.7 Million Series A Funding to Help Make Any Worker An Instant Expert with Augmented Reality
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 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.
Carve Communications for Scope AR