NextVR Targets International Growth and Global Partnerships with $80 Million Series B Funding Round

Investors from across Asia help leader in live virtual reality broadcasting build a sustainable flow of world-class entertainment to expanding global audience

LAGUNA BEACH, Calif., August 9, 2016 – NextVR, the leader in live virtual reality broadcast technology, announced a significant funding milestone, raising $80 million in a Series B round to help the company expand its global footprint. The majority of funding from the Series B raise comes from high-profile investors throughout Asia in the entertainment, content and technology markets, as well as new U.S. investors including all participating U.S. investors from the Series A round.

The Series B investment positions NextVR to accelerate development of its virtual reality platform and international operations to bring considerably more live entertainment – from concerts, world-class sports and other performances – to consumers through an expanding array of high-profile, global technology, entertainment and investment partners.

“With this new funding, we will continue to build NextVR’s virtual reality platform to meet the needs of the world’s largest fan bases around live sports and music content,” said Brad Allen, NextVR Executive Chairman. “Having the support of Asia’s biggest players provides us with significant resources for creating and distributing both local and international content in China, Korea, and Japan.”

NextVR’s pipeline of exclusive content and virtual reality experiences grew significantly in 2016. Recently, NextVR announced a partnership with Live Nation, the global leader for live entertainment, to deliver hundreds of ‘A’ list performances in virtual reality to fans worldwide. As NextVR continues to broadcast major sporting events live in virtual reality – including past events such as the U.S. Open and the Masters Tournament, the Kentucky Derby, the DAYTONA 500, the International Champions Cup (ICC) and many others – the new funding will lead to a sustainable cadence of live and on-demand virtual reality broadcasts.

Investors in the Series B round include:

“We trust in the future of live experiences in VR and NextVR has proven it is the company that will deliver on that promise. We are making an investment in NextVR because we believe the company’s global platform for live VR will win the hearts and minds of users everywhere,” said Sun Lu, president of CITIC Guoan.

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