Organic Motion Secures B Round Venture Financing from Foundry Group
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Expansion Capital to Drive Sales and Technology in Military Simulation and Life Sciences NEW YORK--(Business Wire)-- Organic Motion, the leading innovator of computer vision and advanced motion capture systems, announces that it has secured a Series B financing, led by Foundry Group. The company`s technology dramatically increases a computer`s ability to "see" and understand human motion to generate highly accurate 3D tracking data in real-time, without using bodysuits or attached tracking devices. Organic Motion provides the only technology that understands a person`s exact motion, dimensions and image; and instantly creates a Digital Clone of the individual. "We are fortunate to have the Foundry Group as partners who share our vision for next generation human-computer interfaces," says Andrew Tschesnok, CEO of Organic Motion. "This investment will act as a catalyst to our continued growth as we expand our sales network, and build on our award-winning intellectual property." "We believe that Organic Motion has created a platform that will fundamentally change the way that computers see people, and will create many new opportunities in the business, military, educational and consumer eco-systems," says Jason Mendelson, Managing Director at Foundry Group. "I`m very excited with this partnership between Organic Motion and Foundry Group, as it furthers our focus in accelerating the evolution of human computer interactions." Organic Motion`s technology and growing customer base is on track to alter many day-to-day experiences for people in all walks of life. Organic Motion`s systems are being used by many of the world`s foremost technology companies and government agencies; including the creation of virtual environments for training coal-mine rescue personnel and for helping returning military veterans readjust to civilian life. Organic Motion was recently named the winner of the 2009 Wall Street Journal Innovation Awards for the Computing Systems category. About Organic Motion, Inc. Organic Motion is a leading computer vision software company and maker of highly advanced markerless motion capture systems. The company`s core technology dramatically increases a computer`s ability to "see" people and generate highly accurate 3D tracking data in real-time, without using bodysuits or markers. Organic Motion has worked with some of the world`s foremost technology and entertainment companies including Intel, Disney, Sony, Six Flags, Adidas and BMC. To learn more, visit www.organicmotion.com. Foundry Group Foundry Group is a venture capital firm focused on investing in early-stage information technology, Internet and software startups. In addition to providing the necessary venture capital to get a company up and running, Foundry Group is committed to leveraging its experience in starting and growing companies, its expertise in the technology industry, and its network of relationships to help great entrepreneurs turn great ideas into great companies. Foundry Group is based in Boulder, Colorado, and invests in companies located across the United States. www.foundrygroup.com Organic Motion, OpenSTAGE, STAGE, and BioSTAGE are trademarks of Organic Motion, Inc. in the United States. Fusion PR for Organic Motion Chris Michaels 310-481-1431, Ext. 18 chris.michaels@fusionpr.com or Organic Motion, Inc. Jonathan Rand, President 212-776-6100, Ext. 111 jonathan@organicmotion.com Copyright Business Wire 2009
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