Bellevue, Washington based enterprise software company, Envelop VR,has secured $4 million in Series A funding round, led by Madrona Venture Group.
Envelop VR is creating enterprise and productivity software that allows businesses and consumers to create, work and play in a virtual reality environment. The company will use the funding to build out the engineering and business teams behind Envelop’s software.
“The team at Envelop has an incredible understanding of how virtual reality will dramatically increase productivity and improve efficiencies within a number of critical industries,” said Matt McIlwain, Managing Director at Madrona.
“The software they are developing will reinvent the way in which we will use computers and smart headsets in the future, and for the better.”
In June, this year, Madrona announced a new $300 million fund that would be targeted at information technology startups and called out virtual reality as a growing area of interest for the firm. Envelop VR marks the first virtual reality software company that the firm has invested in.
“We’re incredibly honored that Madrona has chosen our company to be the first virtual reality software company to invest in,” said Bob Berry, Envelop VR CEO and Co-founder. “Matt and the Madrona team share our same incredible passion about this transformative technology and its vast potential. These immersive technologies offers an entirely new way to interact with computers, data and humans. We expect to see the same explosive growth as we did with the mobile phone industry.”
Envelop VR is preparing to release its product into the hands of select virtual reality developers this Winter; before virtual reality headsets hit the mainstream market next year.
Envelop VR was founded in 2014 and is creating productivity and enterprise software that enables businesses and consumers to create, work and play in an immersive, 3D environment. The company is the brainchild of serial entrepreneur Bob Berry, who studied virtual reality in Japan in the late 90s, and chief technology officer Jon Mavor, who has spent the last two decades in the video game business developing advanced rendering technologies.