Leap Motion Announces $50 Million in Series C Funding Led by J.P. Morgan Asset Management
“New Investment Will Accelerate Global Expansion, Innovation of VR/AR Motion Tracking Technology, and Expansion into New Commercial Applications”
Leap Motion, Inc., the leading creator of motion tracking technology for natural input in virtual and augmented reality, today announced $50 million in Series C funding led by clients advised by J.P. Morgan Asset Management. The funding enables Leap Motion to drive global expansion, particularly in Asia, which the company will serve through the opening of an office in Shanghai, China; advance innovation and adoption of its groundbreaking hand and finger tracking technology; and broaden its reach into new commercial and enterprise applications including education, healthcare, and industrial training simulation. As part of the funding round, Lawrence Unrein, Global Head of J.P. Morgan Asset Management’s Private Equity Group, has joined Leap Motion’s board of directors.
“Natural input through full hand tracking is inseparable and fundamental to the future of VR/AR, and Leap Motion is a principal driver of its widespread adoption,” said Michael Buckwald, CEO and Co-founder of Leap Motion. “In much the same way as the touchscreen sparked the mobile revolution, Leap Motion is playing a transformative role in the development of human interface technology for VR/AR. As a result, the industry as a whole is on the verge of a similar moment of exponential growth.”
“Virtual and augmented reality technologies are evolving at a rapid pace, drawing significant attention from investors,” said Larry Unrein, Global Head of J.P. Morgan Asset Management’s Private Equity Group. “Leap Motion’s suite of hardware and software designed for headsets falls squarely into this category, offering natural input through hand and finger tracking that can be integrated into any headset.”
Since its founding in 2010, Leap Motion has become the recognized leader in motion tracking for VR/AR. Leap Motion products are used by leading technology companies such as Qualcomm, and by industrial designers, innovation labs, and academic researchers throughout the world to integrate motion tracking into a multitude of applications – from desktop and the Internet of Things, to virtual and augmented reality.
About Leap Motion
Leap Motion’s mission is to remove the barriers between people and technology. The company’s unprecedented hand tracking technology – a combined suite of software and hardware – lets you reach into virtual and augmented reality to interact with new worlds. Leap Motion was founded in 2010 and is currently partnering with major headset manufacturers to embed Leap Motion technology into mobile VR/AR products across the globe. The company is privately funded and headquartered in San Francisco, Calif.