US-based virtual reality advertising platform Immersv closed a $10.5m series A round on Friday that included VR headset producer HTC Vive and computing equipment supplier MCJ.
Mobile banking platform I-mobile, mobile game publisher Gree and app monetisation services provider Metaps also took part in the round, which was led by venture capital firm Rogers Venture Partners.
VC firms Foundation Capital and East Ventures, corporate-backed VR investment fund Venture Reality Fund and seed-stage fund Initial Capital also contributed, alongside angel investor Gigi Levy.
Founded in 2015, Immersv has developed a programmatic advertising platform for VR and 360-degree media that can help developers monetise their content, and has signed deals with more than 15 demand and supply-side advertising platforms.
The funding will support product development and the growth of Immerv’s advertising inventory. Paul Sestili, a general partner at Rogers Venture Partners, will join the company’s board along with Hironao Kunimitsu, founder and CEO of mobile game producer Gumi.
Mihir Shah, president and chief executive of Immersv, said: “We are excited to partner with some of the finest institutional and strategic investors in the world.
“While the mobile video market continues to grow, we believe interactive advertising experiences will displace the current video advertising market in the next few years providing better results for advertisers, higher yield for publishers and a significantly better experience for consumers.”