PITTSBURGH, April 2, 2014 /PRNewswire/ -- EyeSee360,
creators of the highly anticipated panoramic video camera, 360Fly,
today announced a growth capital investment from Catterton
Partners, the leading consumer-focused private equity firm. The
investment will be used to accelerate market awareness and finalize
development of 360Fly cameras, the 360MicroFly smartphone
attachment and the 360Fly.com video hosting and sharing
service. Terms of the transaction were not
disclosed.
The 360Fly is a panoramic video camera that allows users to
capture and share an interactive 360 degree panoramic video.
With a field of view (FOV) of 360 degrees horizontal by
240 degrees vertical, the 360Fly's FOV is more than twice that
of a traditional POV (Point of View) camera. The 360Fly camera is
also shock-proof, waterproof, and has built-in Wi-Fi/Bluetooth
functionality. 360Fly's unique yet intuitive design and app
interface give users an engaging experience in a never before seen
narrative. 360MicroFly is a smartphone lens attachment that puts a
spin on traditional video, offering smartphone users the ability to
simultaneously record everything around them and share an immersive
experience instantly through social media. 360MicroFly attaches to
popular smartphones to capture videos that are not only panoramic
but interactive, creating engaging scenes and allowing viewers to
control what they want to view.
"360Fly gives consumers a unique way to capture and share their
experience with the world. We believe this technology will change
the way people capture, view and share videos. This is an exciting
step in the evolution of camera technology," said Tim O'Neil, CEO of EyeSee360. "EyeSee360
and Catterton share a passion and vision for great consumer
products and experiences. Catterton is not only an investor, but a
strategic partner that will help position 360Fly in the rapidly
evolving consumer camera market."
"Two of the strongest consumer trends are consumers seeking more
experiences and consumers becoming content creators," said Michael
Farello, a Partner at Catterton. "We believe the 360Fly product is
at the intersection of these trends by enabling consumers to
capture and share their experiences in a more distinctive manner
than any camera on the market today. The product will also have
applications for security, sports broadcasting, and many other
industry sectors. We look forward to partnering with the
exceptional technical team, executive leadership, and distribution
partners as EyeSee360 launches its new breakthrough products later
this year."
Earlier this year at CES 2014, VOXX Electronics Corporation, a
wholly-owned subsidiary of VOXX International Corporation.,
(NASDAQ: VOXX) announced a distribution partnership to deliver the
360Fly line of panoramic video cameras and software to the
market.
The company plans to launch their products this coming summer.
To stay updated on 360Fly's progress, please sign up on
www.360fly.com.
Catterton's other technology investments include Pong Research,
which provides science-based solutions to enhance signal strength,
extend battery life, and protect cell phone users from exposure to
radiation, SteelSeries, a leading designer and marketer of premium
PC gaming peripherals such as headsets, mice and keyboards and
TechTurn, a computer and electronics recovery, refurbishing and
remarketing company.
About EyeSee360
EyeSee360 creates products and
software for interactive 360 degree video experiences. With
their newest brand 360Fly, they aim at fundamentally changing the
way you record and watch video by capturing life just as you
experience it — in 360 degrees.
Founded out of Carnegie Mellon
University's Robotics Institute, EyeSee360 is the technology
leader in single-shot panoramic imaging for both still and video
photography. EyeSee360 has decades of experience in robotic vision,
image rendering, and software interface development. Although
EyeSee360's technology was originally designed for aviation and
military use, they now make consumer and broadcast products.
EyeSee360 has offices in Pittsburgh and Virginia.
For additional information, please visit our web site at
www.360Fly.com.
Like 360Fly on 360Fly Facebook Page or follow on twitter
@360Fly.
About Catterton Partners
Catterton Partners is the
leading consumer-focused private equity firm with more than
$4.0 billion currently under
management and a twenty-four year track record of success in
building high growth companies. Since its founding in 1989,
Catterton has leveraged its category insight, strategic and
operating skills, and network of industry contacts to establish one
of the strongest private equity investment track records in the
middle market. Catterton Partners invests in all major
consumer segments, including Food and Beverage, Retail and
Restaurants, Consumer Products and Services, Consumer Health, and
Media and Marketing Services. Catterton's investments
include: Restoration Hardware, Outback Steakhouse, Sweet Leaf Tea,
Noodles & Company, PIADA, Bruxie, Frederic Fekkai, Build-A-Bear Workshop, Wellness
and Nature's Variety pet food, Kettle Foods, Odwalla and
P.F. Chang's, to name a few. More
information about Catterton Partners can be found at
www.cpequity.com.
About VOXX International Corporation:
VOXX
International Corporation (NASDAQ:VOXX) is the new name for
Audiovox Corporation, a company that was formed over 45 years ago
as Audiovox that has grown into a worldwide leader in many
automotive and consumer electronics and accessories categories, as
well as premium high-end audio. Through its wholly-owned
subsidiaries, VOXX International proudly is recognized as the #1
premium loudspeaker company in the world, and has #1 market
positions in automotive video entertainment and remote starts,
digital TV tuners and digital antennas. The Company's brands also
hold #1 market share for TV remote controls and reception products
and leading market positions across a wide-spectrum of other
consumer and automotive segments. Among the key domestic brands are
Klipsch®, RCA®,Invision®, Jensen®, Audiovox®, Terk®, Acoustic
Research®, Advent®, Code Alarm®, CarLink®, Excalibur®, Prestige®,
and Pursuit®. International brands Hirschmann Car Communication®,
Jamo®, Energy®, Mirage®, Mac Audio®, Magnat®, Heco®, Schwaiger®,
Oehlbach® and Incaar™. For additional information, please visit our
Web site at www.voxxintl.com.
Contacts:
For EyeSee360:
Amey
Kanade
412-922-6002 ext 702
For Catterton:
Andi
Rose / Bryan Darrow
Joele Frank, Wilkinson Brimmer
Katcher
212-355-4449
SOURCE EyeSee360