NEW YORK, Oct. 10, 2017 (GLOBE NEWSWIRE) — The Glimpse Group, Inc. (“Glimpse”), a Virtual Reality and Augmented Reality (“VR” and “AR”) company comprised of multiple VR and AR software & services start-ups, announced today that it has successfully concluded its Series A funding round and appointed Ms. Sharon Rowlands to its Board of Directors.
Over the past 12 months, Glimpse has raised over $2,000,000, primarily from angel investors, family offices and Glimpse founders. With our core building blocks in place, including 8 wholly-owned VR/AR start-ups (4 of which are already revenue generating), we will focus our going forward fundraising efforts primarily on institutional investors, targeting a $5,000,000 financing round. The new round will facilitate our continued growth trajectory in the NYC area, as well as expansion to other geographic locations where there is significant VR/AR activity.
Ms. Sharon Rowlands has more than 20 years of experience leading multi-billion-dollar companies serving small and medium-sized businesses, financial markets and enterprise customers. She is currently the CEO of ReachLocal, Inc. (previously Nasdaq: RLOC, acquired by Gannett Co., Inc in August 2016). Prior to ReachLocal, she served as CEO of Penton Business Media Holdings, Inc., CEO of Altegrity, LLC and CEO of Thomson Financial. In addition to Glimpse, Ms. Rowlands currently services as a director PegaSystems, Inc. (Nasdaq:PEGA).
“The VR/AR segment has the potential to fundamentally transform how businesses, consumers and individuals interact,” said Ms. Rowlands. “Given the early stage nature of the industry – especially as it relates to software, services and IP – I found Glimpse’s diversified operating model, experienced management team, robust ecosystem and enterprise focus to be compelling, unique and well thought-out. I am excited to join Glimpse as a Director and investor, as we strive to capitalize on the significant market opportunities ahead of us.”
“Over the last twelve months, Glimpse has made significant progress, taking it from concept to reality. I would like to thank our investors for their support and insight. We are well positioned to continue on our path to becoming a leader in the VR/AR software & services space,” said Glimpse President and Chief Executive Officer Lyron Bentovim. “Having someone of Ms. Rowland’s ability and experience join our team is a tremendous addition and an important step in our evolution.”
About The Glimpse Group, Inc.
The Glimpse Group is a Virtual and Augmented Reality company, comprised of multiple VR and AR software & services start-ups, and designed with the specific purpose of cultivating entrepreneurs in the VR/AR industry. Our unique business model simplifies challenges faced by VR/AR entrepreneurs and creates a robust ecosystem, while simultaneously providing investors an opportunity to invest directly into the emerging VR/AR industry via a diversified platform. For more information on The Glimpse Group, please visit www.theglimpsegroup.com.
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