It’s official: Magic Leap secures $542M funding round led by Google
by Sara Isenberg
Santa Cruz Tech Beat, Publisher
Recode spilled the beans early but now it’s official. We just don’t yet know what it means for Santa Cruz. So, stay tuned.
[Editor’s note: For more about the connection between Magic Leap and Santa Cruz, read How Graeme Devine is going to put Santa Cruz on the map (March 8, 2014).]
Magic Leap, Inc. (“Magic Leap”) announced today that it has completed a $542 million Series B financing. The company will use the proceeds to accelerate product development, release software development tools, expand its content ecosystem, and commercialize its proprietary mobile wearable system.
The financing was led by Google Inc., with participation from Qualcomm Incorporated, through its venture investment group, Qualcomm Ventures, Legendary Entertainment, including a personal investment from CEO Thomas Tull, KKR, Vulcan Capital, Kleiner Perkins Caufield & Byers, Andreessen Horowitz, Obvious Ventures, and other investors.
Read what’s available on the national press:
- Magic Leap’s press release
- PR Newswire: Magic Leap Raises $542 Million in Series B Funding
- Fast Company: ”SO BADASS YOU CAN’T BELIEVE IT” MAGIC LEAP RAISES $542 MILLION TO LAUNCH THE FUTURE OF COMPUTING
- CrunchBase: $542 Million Series B on October 21, 2014
- Wall St. Journal: Google leads $542 million deal in secretive startup Magic Leap
- Silicon Valley Business Journal: Google leads $542 million funding round for “cinematic reality” startup Magic Leap
- TechCrunch: Magic Leap Secures $542M Led By Google For “Lightweight Wearable” Tech That Merges Physical And Digital Worlds
- Forbes: Google Leads Monster $542 Million Funding For Magic Leap, A Mysterious ‘Cinematic Reality’ Company
- CBS Local (video/newscast): Dania Beach Tech Company Raises $542 Million In Funding
About Magic Leap, Inc.
Magic Leap, Inc. was founded in 2011 by Rony Abovitz. It is headquartered in Florida with locations in Santa Cruz, Los Angeles, Mountain View, Seattle, Austin, and New Zealand.