Blippar completes $45m funding
Monday March 9, 2015 at 1:26pm
Blippar, the world’s largest augmented reality and image-recognition platform, today announced it has completed a $45 million funding round. The industry-leading technology company will use this new financing to expand its engineering team and extend the global reach of its image-recognition capabilities in order to further realize its mission to create a visual search engine for the physical world. “This is a pivotal time for the image-recognition industry,” says Ambarish Mitra, Blippar Founder and CEO (pictured). “While the digital advertising and marketing communities have been quick to capitalize on the potential of our technology to engage audiences with branded experiences, we have barely scratched the surface in terms of the potential impact that our technology can bring to other industries, particularly education, healthcare and charities.” Mitra adds: “This funding brings us closer to our ultimate goal of creating a new kind of cognitive behavior, one that enables us to instantaneously access information and content directly from any of the physical objects or collateral in the world around us.” Currently, Blippar partners with many of the world’s largest and most influential consumer brands – including Coca-Cola, General Mills, Procter & Gamble, Pepsi and Nestle – to deliver engaging augmented reality and image-recognition experiences. Brand campaigns feature unique digital content that is unlocked instantaneously from physical triggers including billboards, products, logos and magazine pages when scanned or 'blipped' via the Blippar app on a mobile device. Following its acquisition of Layar in 2014, Blippar has built up a global user base of over 50 million people with over 1.5 billion blippable interactions. Blippar’s operations have expanded to represent more than 200 employees across 10 international offices in US, Europe and Asia.