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LOS ANGELES, Sept. 24, 2020 /PRNewswire via COMTEX/ —
LOS ANGELES, Sept. 24, 2020 /PRNewswire/ — Camera IQ, the world’s first augmented reality platform for camera marketing, today announced an additional $5 million in Series A funding, bringing its total funding raised to-date to over $14 million. Led by Shasta Ventures, the round also includes participation from existing investors Waverly Capital, Betaworks Ventures, Sway Ventures, as well as new investors Grand Ventures, Space Capital, and Gingerbread Capital.
COVID tailwinds are accelerating augmented reality (AR) adoption on social platforms as consumers spend more time online. With over four billion daily active camera users on social, the numbers are in – and AR is here to stay. 75% of consumers are using AR on a daily basis, leading to an 85% year-over-year increase in time spent in AR