NextVR builds a virtual reality platform focused on live sports and music content, notably live-streaming sporting events and concerts. With the new financing the company plans to expand beyond U.S. markets into Asia, targeting China, Korea, and Japan. The startup has raised over $135 million to date, including a $30.5 million Series A last November led by Formation 8. Regulatory filings show $20 million of the Series B came from CITIC Group at a reported $800 million valuation. NextVR says support from Asia’s largest players will provide significant resources for creating and distributing both local and international content in those markets. NextVR builds a VR live-event streaming platform designed to give consumers rich, immersive experiences of sporting events and concerts. The company emphasizes delivering a high-quality virtual reality experience and says content is key to that mission. Its fundraising attracted strategic media and entertainment partners, indicating growing interest from major corporate TV and live-entertainment players. NextVR highlights relationships with marquee content providers as part of its go-to-market approach. The company is six years old and has previously secured $5 million in venture funding last year. Management framed the new investment as validation of its technology platform and content relationships.

Total raised

$111M

Funding rounds

2

Latest round

Series B

Latest activity

Aug 2016