By: Max Metzler
Virtual reality pioneer Oculus Rift has announced a new round of funding to the tune of $75M. The series B round adds to $18M the company received in its A round of financing. The investment is headed up by Andreessen Horowitz and also includes Spark Capital and Matrix Partners. In a leadership development, Marc Andreessen will join Oculus as a member of the Board of Directors.
Over $93M later, it might be easy to forget that the VR headset originally got its start on Kickstarter. The then-fledgling project got seed funding of $2.4M from nearly 10,000 backers, and is still one of the most successful Kickstarter projects by total funds raised. Though, it’s certainly arguable that with this recent funding round, Oculus is the most successful Kickstarter project ever. Its success certainly lends legitimacy to the website (and crowdfunding in general) as a meaningful alternative to traditional seed capital sources.
As startup incubators and angel investor groups continue to crop up all over the country, it will be interesting to see what place crowdfunding takes in early stage capital formation. Of course, we’ll be keeping track of this trend here on the GBL blog.
Do you think it will emerge as a viable alternative? Let us know in comments.