Oblong Industries Secures $65 Million Expansion-Stage Investment from Roster of High-Profile Tech Investors

LOS ANGELES, CA--(Marketwired - Oct 18, 2016) -  Oblong Industries, the pioneering developer of spatial, immersive, and gesture-enabled technologies for the new era of collaborative work, today announced it has raised $65 million in a new growth round from existing and new investors.

The investment will allow Oblong to accelerate product development, launch market-redefining innovations faster, and ramp an aggressive strategy of expansion into new territories.

Oblong, headquartered in Los Angeles, is the developer of the Mezzanine product for immersive visual collaboration and of distinctive data visualization solutions at architectural scale -- all based on its unique g-speak technology. The g-speak software platform enables multi-machine, device-agnostic spatial operating environments offering simultaneous input modalities including gesture and touch. Current customers include NASA, PwC, and IBM, along with many dozens of others in the Fortune 500 and Forbes Global 2000.

Participants in the funding include new investors Greenspring Associates, Industry Ventures, and UTIMCO. These firms are joined by historical partners Morgan Stanley and Foundry Group, bringing the growth round to a total of $65 million.

The company, founded by MIT Media Lab researcher and award-winning computer scientist John Underkoffler, was recently named a "Cool Vendor" in Gartner's 2016 report on Human-Machine Interface¹.

"This is a validation of Oblong's vision and growth trajectory," said John Underkoffler, CEO, Oblong Industries. "Businesses globally are staring down a double-barrel future of unchecked complexity and data saturation. Basic success from here on will require people and teams at all levels to be more creative, capable, and collaborative. We've brought the foundational tech and design approach -- spatial, immersive, and visually rich -- that uniquely makes this possible, and we're thrilled that our partners are aboard to make it happen even faster."

About Oblong Industries
Oblong Industries' innovative technologies change the way people work, create, and collaborate. With roots in more than two decades of research at the MIT Media Lab, Oblong's flagship product Mezzanine™ is an immersive visual collaboration solution that defines the next era of computing: multi-user, multi-screen, multi-device, multi-location. Mezzanine's groundbreaking Infopresence capabilities multiply the effectiveness of distributed organizations and catalyze new, more effective, more collaborative workflows. Oblong is headquartered in Los Angeles and supplies Mezzanine systems to Fortune 500 enterprise customers and reseller partners.

Learn more at www.oblong.com,  and connect via Twitter, Facebook, LinkedIn, and Instagram.

¹ Gartner "Cool Vendors in Human-Machine Interface, 2016" by Werner Goertz, Annette Zimmermann, Nick Ingelbrecht, April 21, 2016.