Oculus VR raises $75m series B funding

Oculus VR raises $75m series B funding
Seth Tipps

By Seth Tipps

December 13th 2013 at 9:06AM

Netscape founder Marc Andreessen joins company board

Oculus VR has raised $75 million in series B funding for the final leg of the race to complete its virtual reality headset.

The financing was led by Andreessen Horowitz, with contributions from Spark Capital, Matrix Partners, and Formation 8.

Marc Andreessen himself, best known as the founder of Netscape, has offered his time as well as his money by bringing his considerable experience to the Oculus VR board, saying the device will “redefine fundamental human experiences.”

"Over the past 16 months, we've grown from a start-up to a company whose virtual reality headset is poised to change the way we play, work and communicate," said Oculus VR CEO Brendan Iribe.

"40,000 developers and enthusiasts, as well as a number of great partners, have joined our cause and helped us bring the seemingly impossible to life. This additional infusion of capital, as well as the leadership and experience of Marc Andreessen, will help us take the final steps toward our ultimate goal: making virtual reality something consumers everywhere can enjoy."

This latest investment shows the momentum the company has picked up since getting its seed funding from Kickstarter.

The last round of funding pulled in $16 million this June.

Since then, Oculus has picked up games industry legend John Carmack as CTO – a move that seems to have convinced many that the Oculus Rift is more than a fad.

"The games industry is well past the point where more pixels, texels, flops, and frames displayed on the same fixed screens are really changing the experiences that players get," said Carmack.

"I could say the same about other digital experiences as well. What will revolutionize gaming, and interactive content in general, is putting people inside the digital world. That is our goal at Oculus, and this Series B will help us get there."