Los Angeles based Augmented Reality Camera Marketing Platform, Camera IQ has raised US$ 5M in Series A funding round on 24 September. Its total funds raised stands at US$ 9.3M.
The Series A round was led by Shasta Ventures. Other participants in the round include existing investors Waverly Capital, Betaworks Ventures, Sway Ventures, as well as new investors Grand Ventures, Space Capital, and Gingerbread Capital.
The funds will be utilized for hiring in sales and marketing and on product development with an emphasis on expanding distribution to new platforms. Camera IQ’s mission is to democratize the camera and AR technology for brands across the globe.
About Camera IQ
Founded in 2016 by Allison Wood and Sonia Tsao, Camera IQ is powering the next generation of consumer interactions by enabling brands to tap into the power of Augmented Reality. It is a B2B startup helping marketers drive business objectives with the help of Camera Marketing. Using their platform brands can easily create and deploy scalable Augmented Reality campaigns and reach audiences in various social media platforms like Facebook, Instagram, Snapchat, Twitch, Zoom and more.
The team of Camera IQ comprises diverse and open-minded engineers, designers and marketers committed to democratizing the camera and AR technology. In 2020, Camera IQ’s AR share rates on Instagram and Facebook have increased 43% and 23% respectively in Q2, and Snap Camera usage (which powers AR in Twitch, Zoom and Google Hangouts) has increased 33x since the start of the year.
“With the Camera and AR playing essential roles in our daily lives now, AR is the strongest format for driving consumer engagement and making business goals a reality. Our platform enables brands and businesses to power the next generation of consumer engagement and gives them the tools to have more interactive, engaging targeted connections with customers. We are thrilled to partner with Shasta and our other investors to expand to new platforms and reach new industries,” said Allison, CEO of Camera IQ.
Camera IQ is helping brands with marketing in various sectors. For example:
Music: Camera IQ has deployed over 250 music experiences across numerous platforms, generating over 300 million views. Republic Records has also used Camera IQ to scale their AR initiatives for established and emerging artists.
Gaming: Various game publishers, AAA franchises, and e-sports leagues are using Camera IQ to create, publish and manage camera marketing campaigns. One customer launched over 100 AR effects across Facebook, Instagram and Snapchat in 2020 alone.
Beauty: Virtual try-on experiences in the beauty sector are very important. Wet n Wild Beauty is leveraging Camera IQ to bring together marketing and commerce, utilizing the transformative nature of AR as a tool for self-expression. “For beauty brands building e-commerce businesses, AR and virtual try-on are essential to providing the user experience to incentivize purchases,” said Elaine Chen, Vice President of Brand Marketing and Innovation at Wet n Wild Beauty.
What investors have to say
“When I met with Camera IQ’s co-founders, Allison and Sonia Tsao in 2016, they painted a picture of the key role that the camera would play in our daily lives. Since then, they have continuously delivered and are now the category leaders for Camera Marketing, becoming a trusted partner to leading brands in the music, beauty, media, and gaming industries,” said Jacob Mullins, Partner at Shasta Ventures.
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