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Developer kit for the Oculus Rift - the first truly immersive virtual reality headset for video games.
Developer kit for the Oculus Rift - the first truly immersive virtual reality headset for video games.
Developer kit for the Oculus Rift - the first truly immersive virtual reality headset for video games.
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9,522 backers pledged $2,437,429 to help bring this project to life.

VR Gets VC

In case you didn’t see the announcement, we have great news to share: we’ve raised $16 million in a Series A funding round co-led by Spark Capital and Matrix Partners, along with Founders Fund and Formation 8. This level of financial support opens incredible new doors for Oculus, and I’d like to provide a bit of context and backstory.

I have been working on virtual reality technology for years. Starting in a garage, prototyping new hardware, and collaborating with other virtual reality enthusiasts was a blast long before anyone thought VR was poised for a comeback. Hackers, makers, and enthusiasts live on the bleeding edge of tech not because it makes financial sense, but because it is a thrill that you cannot get anywhere else.

I got into VR because it seemed like the obvious path to the best possible gaming experience, but never expected it to take off so quickly. In less than a year, incredible game developers all over the world are building games designed explicitly for virtual reality, and people are beginning to understand that the tech is finally viable. Even with "next generation" consoles on the horizon, VR still came away with dozens of awards and accolades at E3.

We were fortunate enough to be able to pick investors who we thought would be a great fit. They really believe in our vision for the future of VR. These are people who have taken companies from startup to mass market many times, entrepreneurs who have a ton of meaningful experience building hardware and software consumer technology.

As I mentioned before, the funding opens up all sorts of doors for Oculus. It helps us hire the best and brightest minds in VR from around the world. It lets us experiment and prototype with more cutting-edge tech. And it allows us to build a badass, consumer VR gaming platform, the likes of which the world has never seen.

Virtual reality will be one of the most significant technologies of the 21st century. It has the potential to drastically alter the way we play, communicate, and learn. I think that VR can (and will) be as widely used as Facebook or Twitter, and the societal implications will be far greater!

I want to thank everyone for their support. None of this would be possible without you, the people who supported Oculus when it was nothing but a rough prototype and a dream of changing gaming forever!

-- Palmer

Comments

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    1. Rae O'Neil on

      Congratulations :) I'm sure you'll put your new capital to good use!

      Seriously, this is the first time I've ever believed VR HMDs could be consumer viable.

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      shievo on

      Amazing news. I realy hope you have all the things now to make a realy good costumer version.

    3. Johan Munkestam on

      Congratulations - best wishes of great success, way above the 'mere' 10k early adopters we see today. Getting the device supported on next-gen platforms could open up some incredible possibilities.

    4. David Ross Watson on

      This is fantastic news! :D
      Congratulations to the whole team! These are indeed the days of the future.
      This is even more exciting than the HD Prototype buzz (which we knew was coming anyway.)

      Perhaps like ravi below, the main reason I'm eager for Sony to offer Rift support is that it would help to foster mainstream adoption in a massive way. It would also give developers a greater incentive to develop for VR since the risk of their Rift support being ignored (not for a lack of awesomeness) by most PC gamers would be greatly reduced.

      Speaking for myself I love the PC, but I'm still excited by the idea of PS4 gamers around the world being able to tap into the power of the Rift.

    5. British on

      The Facebook/Twitter comparison is more frightening than reassuring to me, but besides that, way to go !

    6. Yossi Preminger on

      Stop posting updates and get back to work you lazy bums! :P

    7. Salopp on

      Great news! The future is bright for VR. I hope individual investors get a chance to participate soon.

    8. Missing avatar

      ravi on

      Sony has expressed some interest in supporting the device you know. you guys should talk with them and look into that and expand the audience of this device than just for pc gamers.

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      Grillo del mal on

      Congrats!! hope that you continue working for an awesome VR future ^_^

    10. MammonLord on

      At this rate could we have a consumer 1.0 version by the holiday season? All fingers crossed!

      I remember trying to cross my eyes to play Descent "3D" on a split-screen monitor in an internet cafe... VR sure has come an amazingly long way since then. The future looks wonderfully bright -- and at long last it's in real 3D! *wipes tear*

    11. Frito on

      Time to Change the World Oculus!

    12. Missing avatar

      deleted on

      This user's account has been deleted.

    13. Thomas Sorensen on

      Are you in any kind of talks with Sony, Microsoft & Nintendo to do something on theire platforms.......?

    14. Oculus Creator on

      @Mark Gruits: Journalism major, actually!

      -Palmer

    15. Matt Gruits on

      You know, you're a pretty damn good writer there Lucky.. English major?

      Anyway, that's wonderful news, congrats!

    16. Apocoplay LLC on

      Personally I'm more excited about this than I am about the new console announcements. You guys are awesome and as you succeed the industry itself succeeds.

    17. Hugo Tremblay on

      Incredible!

      And this is just the beginning!

    18. Nicky Parseghian on

      Congratulations. This is definitely the right choice for Oculus. Glad to be part of it through Kickstarter

    19. Chris Legasse on

      Hot damn! Congrats on the funding! That should be enough to prototype the CRAP out of some awesome tech!

    20. Missing avatar

      Jesse Forgues on

      Keep the dream pure, don't give up ownership...

    21. Ryan McClelland on

      Glad you found funders with the same dream. Bring on the metaverse.