Oculus VR develops the Rift virtual-reality headset and an associated software platform. The company has distributed 42,000 developer units and is preparing a consumer version of the Rift. Management is focused on building a "full platform" through developer outreach, support, and content publishing. Oculus says the consumer model has addressed earlier latency issues and sees applications beyond gaming in medicine, architecture, and communications. Financially, the company raised $2.4M via Kickstarter (over 9,500 backers) and secured a $16M Series A earlier in the year, with some Series A capital reportedly remaining. The company is based in Irvine, CA and is led by CEO Brendan Iribe. Oculus VR builds the Oculus Rift, a stereoscopic virtual-reality headset packed with 3D displays and motion sensors aimed at immersive gaming. The company initially raised $2.4M on Kickstarter to create and distribute Rift developer kits. It plans to use new funding to build production/retail hardware, continue developing its SDK, and evangelize developers to build Rift-compatible games. Oculus aims to expand sales beyond the early geek crowd that adopted the dev kits. The team sees the funding as necessary to move from prototypes and developer hardware toward consumer-ready products and broader market adoption.

Total raised

$91M

Funding rounds

2

Latest round

Series B

Latest activity

Dec 2013