SIGHTCALL SECURES US$42 MILLION FUNDING TO EXPAND VISUAL ASSISTANCE MARKET WITH AR, AI

KUALA LUMPUR, May 20 (Bernama) -- SightCall, the world’s leading augmented reality (AR)-powered visual assistance platform, has announced the closing of US$42 million in Series B funding. (US$1 = RM4.141)

The funding was led by InfraVia Capital Partners, along with co-investor Bpifrance, through its Large Venture fund.

Based on a statement, the company intends to use the funds to double its research and development efforts and increase its platform’s AI and AR capabilities.

“This investment is in perfect alignment with our objectives to scale the company and extend our lead in technology to help our customers realise lasting digital transformation within their service organisations,” said SightCall Chief Executive Officer and Co-Founder Thomas Cottereau.

SightCall is poised for global growth and selected this particular set of investors to help them achieve the goal of scaling to US$100 million in annual recurring revenue.

With technology integrations set up with some of the world’s leading companies, the proprietary technology platform enables remote experts to see a problem through video and deliver guidance using AR and AI technology.

By blending the digital and physical worlds into a real-time collaborative environment, SightCall empowers technicians, reduces unnecessary spend and improves the customer experience.

More than 200 of the Fortune 2000 use SightCall, which has seen 100 per cent year-over-year growth in annual recurring revenue in 2019 and 2020 and is on track to reach that mark again this year.

-- BERNAMA