AR camera marketing platform Camera IQ has raised $5m, bringing its total to more than $14m. The firm plans to expand its sales and marketing team and support new platforms such as e-commerce sites.
- The startup launched a platform for marketers to create and measure scalable AR campaigns for social media and streaming. It has about 30 clients in beauty, music, gaming, and other industries.
- CEO Allison Ferenci said the pandemic has accelerated brand and customer adoption. AR share rates on Instagram, for example, rose 43% during Q2 2020. The amount of Camera IQ AR experiences garnering more than a million views jumped 70% between Q1 and Q2, the firm said.
- Client wet n wild Beauty/Markwins recently worked with Camera IQ on two AR experiences that allow users to visualize themselves as Sanrio characters.
- The latest funding round was led by Silicon Valley investor Shasta Ventures, with participation from existing investors Waverly Capital, Betaworks Ventures, and Sway Ventures, and new investors Grand Ventures, Space Capital, and Gingerbread Capital.