Disney Backs Jaunt’s $65M ‘C’ Round
Jaunt, a startup that specializes in virtual reality content, said it has netted a $65 million C round led by new investors The Walt Disney Company, Evolution Media Partners and China Media Capital.
Jaunt noted that Disney’s interest in Jaunt is owned by a wholly owned subsidiary of the company.
The latest round comes more than a year after Highlands Capital Partners led a $28 million Series B in the Palo Alto-based startup. Jaunt, founded in 2013, has raised more than $100 million. Other new investors in the C round include ProSiebenSat.1 SE, Axel Springer SE, and The Madison Square Garden Company. Fenwick & West and The Raine Group advised Jaunt on the transaction.
Jaunt, which has developed a platform for creating and distributing premium live-action VR, said the new funds will enable it to scale up VR production, and advance its professional-grade camera hardware and software production tools and deliver content to a wide range of mobile devices and VR hardware.
Jaunt, which recently introduced a fifth-generation camera system called Jaunt ONE, will also use the funds to grow its teams in Palo Alto headquarters and its new Los Angeles-based studio.
“This round further illustrates our commitment and dedication to advancing the scope of cinematic VR – for filmmakers, storytellers, and audiences alike,” said Jens Christensen, CEO and co-founder of Jaunt., in a statement. “With the support of these world-class companies, we will explore new avenues, building on our leadership position to deliver amazing VR experiences using best-in-class tools, technology, and creative teams.”
“When Jaunt launched a little over 2 years ago, VR was the domain of a few enthusiasts like us,” added David Anderman, Jaunt’s chief business officer. “Fast forward to today, with the ability to view VR content on any current smartphone, and a half dozen head mounted displays launching in the next 12 months, the addressable number of users will instantly be in the millions, and quickly grow from there. We look forward to supplying great content to all those users and contributing to the success of VR as a new content medium.”
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