NEW YORK, NY – October 25, 2016 - Digital Capital Advisors, LLC ("DCA") is pleased to announce that it has served as exclusive financial advisor to InContext Solutions, a global leader in virtual reality (VR) solutions for retailers and brands, on its $15.2 million growth equity investment led by Intel Capital and Beringea. The Company has raised approximately $40 Million in financing to date. Previous investors include Plymouth Venture Partners and Hyde Park Venture Partners.
"Under CEO Mark Hardy's leadership, InContext Solutions has come to distinguish itself as the only SaaS platform operating at scale in enterprise VR, with marquee retail and CPG clients. Intel's expertise and global reach further accelerates InContext Solutions' momentum, as Intel can see around the corner to recognize the massive addressable market for enterprise VR and how it intersects with artificial intelligence, Internet of Things and new computing paradigms," said Elgin Thompson, Managing Director at DCA.
Recognized by CB Insights among the leaders in VR for retail, InContext Solutions provides a unique, in-depth perspective on what consumers see on the retail shelf, how this drives their purchase behavior and why it moves them to take action. With the power of ShopperMX - the world's first cloud-based virtual store simulation and shopper insights platform - InContext Solutions' clients can ideate new in-store concepts, evaluate with actual shoppers and activate those concepts in market.
"This latest round of funding gives us strong strategic backers who share our vision of even more robust, fully-immersive virtual reality solutions for retail," said Mark Hardy, CEO of InContext Solutions. "We have long been a leader in web-based VR, and this investment allows us to aggressively develop our VR platform, further lowering costs and improving speed and revenue for our clients."
The convergence of ShopperMX software with Intel's technology will result in solutions that support the retail space and its evolving needs. This includes creating optimal shopping experiences that reduce risk and improve the bottom line as well as significantly minimizing the cost and time associated with the retail innovation cycle.
"Intel believes virtual reality has great potential to disrupt retail and manufacturing, and InContext's platform has demonstrated the value VR and merged reality can provide to those industries," said Joe D. Jensen, Vice President of the Internet of Things Group and General Manager of the Retail Solutions division at Intel Corp. "We're pleased to enter this relationship to bring best-in-class VR to market."
In connection with the transaction, Patrick Walsh, Director at Intel Capital will join the InContext Solutions' Board of Directors.
Further inquiries should be directed to Elgin Thompson, Managing Director at Digital Capital Advisors (firstname.lastname@example.org).