U.S. Markets open in 2 hrs
  • S&P Futures

    3,423.75
    -28.00 (-0.81%)
     
  • Dow Futures

    27,948.00
    -241.00 (-0.85%)
     
  • Nasdaq Futures

    11,589.00
    -74.50 (-0.64%)
     
  • Russell 2000 Futures

    1,617.00
    -18.60 (-1.14%)
     
  • Crude Oil

    39.06
    -0.79 (-1.98%)
     
  • Gold

    1,905.70
    +0.50 (+0.03%)
     
  • Silver

    24.39
    -0.28 (-1.16%)
     
  • EUR/USD

    1.1827
    -0.0041 (-0.3430%)
     
  • 10-Yr Bond

    0.8410
    0.0000 (0.00%)
     
  • Vix

    29.62
    +1.51 (+5.37%)
     
  • GBP/USD

    1.3052
    +0.0014 (+0.1070%)
     
  • USD/JPY

    104.8690
    +0.1790 (+0.1710%)
     
  • BTC-USD

    13,165.78
    +88.76 (+0.68%)
     
  • CMC Crypto 200

    264.06
    +2.60 (+1.00%)
     
  • FTSE 100

    5,855.68
    -4.60 (-0.08%)
     
  • Nikkei 225

    23,494.34
    -22.25 (-0.09%)
     

Fabric Secures $1 Million in Funding for Brands to Deliver Social AR

·2 mins read

Emerging AR platform transforms how brands communicate to build trust within existing communities

LOS ANGELES, Aug. 19, 2020 /PRNewswire/ -- Fabric, a Los Angeles-based startup that helps brands deliver social and immersive augmented reality experiences to customers in real-time, closed a $1 million angel round. The investment helped Fabric and its Israel-based development team reimagine Social AR. Even while social distancing, Fabric's human-centered technology connects people nearby in AR and around the world. The funding round was led by Win Churchill, an early investor in Waze through a prominent Israeli incubator, and included respected investors Ford Seeman, Julie Zwissler, Shai Robkin and others.

Fabric has already generated revenue on its initial product and is emerging as a leading solution for social engagement in AR. Fabric's platform can enhance brands' existing consumer-facing apps through an API. Brands are able to deliver messages directly to consumers in AR based on the user's location, sparking conversations between consumers while sharing updates and offers from the brand itself.

Fabric uses a proprietary, GPS-enabled AR technology that creates the effect of walking billboards that move with the user, inviting real-time interaction between customers and encouraging authentic connections that can seamlessly become in-person conversations.

There is a growing demand for new digital experiences and methods of engagement. Apps that want to nurture social engagement can use Fabric to help their users see each other nearby in AR and connect. Companies looking to increase second screen options -- which have increased by 44% since March -- can create immersive environments and enable users to communicate in AR in real-time.

"Building Fabric has been a remarkable journey and our investors have been critical partners in understanding how we can best support our clients," said Saul Garlick, co-founder and co-CEO of Fabric.

Sarah Kass, Founder and co-CEO added that "As Fabric becomes the underlying technology with which brands deepen the trust and community among their customers, we will create a new social fabric for the digital age."

For more information, please visit www.sparkfabric.com.

About Fabric
Founded in 2018, Fabric, a social augmented reality (AR) platform that offers businesses a new medium of communication to bring people, places and experiences to their customers wherever they are. Today, Fabric is available via iOS and Android. Fabric offers brands, media, organizations and universities various solutions to fit each brand's needs, including: white label custom embed in any app, second screen immersive experiences and in-app customer communities.

Media Contact: Ann Maher, Interdependence Public Relations, (949) 777-2489 or amaher@interdependence.com

Cision
Cision

View original content:http://www.prnewswire.com/news-releases/fabric-secures-1-million-in-funding-for-brands-to-deliver-social-ar-301114670.html

SOURCE Fabric