Jaunt, a virtual reality tech company based out of San Mateo, Calif., is acquiring a specific software division of Personify, a Chicago-based startup that makes applications for streaming augmented and virtual reality videos.
The deal, announced Monday, allows Jaunt to acquire Personify’s seven-person Teleporter team, which makes a software system that streams life-like AR videos in real-time. Jaunt plans to use Personify’s IP and patent-pending technology for its Jaunt XR platform, a B2B product that enables the distribution of augmented, virtual and mixed reality videos, said David Moretti, Jaunt’s vice president of corporate development and operations. Jaunt's platform produces film content and distributes it for companies like Disney and the NFL.
Terms of the deal were not disclosed, but Personify’s Teleporter engineers will remain in Chicago, allowing Jaunt to open an office here. The rest of Personify’s business will remain the same.
“We were aware of and tracking the work Personify was doing, and over time, it became clear to us how much shared DNA there was,” said Moretti, who added that acquisition discussions between Jaunt and Personify began in July. “We were trying to solve a lot of the same challenges and solve a lot of the same questions, and there was an opportunity for us to combine.”
Personify, founded in 2009 and formerly known as Nuvixa, creates immersive video technology that allows users to alter live video. Their main product, ChromaCam, is a Windows desktop application that works with a standard webcam and allows users to blur their backgrounds or completely remove their backgrounds, among other things.
Personify has raised more than $28 million in venture capital funding from investors like Serra Ventures and Illinois Ventures, according to Crunchbase. Simon Venshtain, who was formerly Personify’s chief technology officer, became Jaunt’s director of research once his team officially integrated into the company in August.
“A lot of good idea sharing is happening here,” Venshtain said. “The Chicago VR space is somewhat in its infancy compared to Silicon Valley, so I think this is going to be exciting for Chicago.”
Jaunt was founded in 2013 and began as a company creating 360-degree videos and cinematic VR experiences. Since then, it has transitioned to being more of a B2B company with its Jaunt XR platform, supplying mixed reality tech to other companies.
Jaunt, which has raised more than $100 million in venture capital funding, employs about 100 people worldwide, according to Moretti. Besides its HQ in San Mateo, Jaunt has a content studio in Los Angeles and sales offices in New York and London.
“We view this as a great opportunity for us to build on the work that the Teleporter team has done, accelerate Jaunt’s research and development efforts, as well as expand our footprint into the Chicago market,” Moretti said. “We view it as a terrific opportunity and we’re really excited about it.”
