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GPS Augmented Reality Startup GoldRun Raises $1.1 Million

GoldRun nets $1.1 Million in Angel funding, thanks the heavens for such fortune

| Augmented Reality News | Posted: Apr 20, 2011 5:53 am

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Earlier this week, NYC-based GPS interactive augmented reality game startup GoldRun raised $1.1 Million this week in angel funding. GoldRun was fortunate enough (literally) to have participants like Ed Mathias of The Carlyle Group, financier Jon Ledecky, Founding Partner of United Talent Agency Jeremy Zimmer, Former Chairman and CEO of Sunglass Hut Jim Hauslein, and CEO of Venturehouse Group Mark Ein (Mathias and Zimmer will join the board of directors). GoldRun is looking to use the funding to develop new features for both users and clients to offer more AR interactions within their application. They will also invest in supporting sales and deployment activities in both the US and other, international markets. Even more exciting, we'll see GoldRun hosted gaming sometime in the near future.

 

For those of you unfamiliar with the application, GoldRun uses geo-data to run augmented reality experiences on the iPhone , and they recently launched a campaign with a sentimentally confused billboard near the Holland Tunnel in New York City, which we reported earlier this week. Founder and CEO Vivian Rosenthal commented:

 

GoldRun allows for a new form of communication where our digital and physical lives meet. We've already evolved beyond check-ins, making them visually-driven and image-based. With the integration of location and context, along with photo taking and sharing, we've set ourselves apart by creating a new virtual goods economy mapped onto the real world.

This is very good news for mobile augmented reality, and even better news for you- the user. Press release to follow.

 


NEW YORK NY April 11- GoldRun, a leading mobile augmented reality platform, has raised $1.1 million in angel funding. Participants in the round include Ed Mathias (The Carlyle Group), financier Jon Ledecky, Jeremy Zimmer (Founding Partner of United Talent Agency), Jim Hauslein (Former Chairman and CEO of Sunglass Hut), and Mark Ein (CEO of Venturehouse Group).

New York-based GoldRun will use the funding to develop a series of new user and client side feature sets that will greatly expand the range of programming and AR interactions on their platform. The funds will also support increased sales activities and accelerate the deployment of services across the U.S. and international markets. 2011 will see the introduction of GoldRun-hosted gaming, v-commerce and user generated content.

Comprised of a mobile app coupled with a dynamic content delivery system, GoldRun uses augmented reality to bring the visually-driven, content rich experiences of the web into the offline world. By GPS-linking 2D and 3D virtual goods to physical locations such as retail stores, airports and events, GoldRun enables users to locate, interact with and take pictures alongside virtual objects, and earn immediate, relevant real world rewards for every one of these interactions.

GoldRun launched November 1st, 2010 and has since worked with H&M, Airwalk, Young & Rubicam, Esquire, Barnes & Noble, Marc Ecko, Universal Pictures, A&E Network, Sorel, Interscope Records and Oklahoma University among others.

"GoldRun allows for a new form of communication where our digital and physical lives meet," says founder/CEO Vivian Rosenthal. "We've already evolved beyond check-ins, making them visually-driven and image-based. With the integration of location and context, along with photo taking and sharing, we've set ourselves apart by creating a new virtual goods economy mapped onto the real world."

As part of the financing, Ed Mathias and Jeremy Zimmer will join GoldRun's board of directors; Greg Golkin and Evan Morgan will serve as board observers.

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