Following $4.6M Seed Closing Including Samsung Ventures, Bubl Performs Management Change in Preparation for High Growth
Internal Reorganization Enables Further Capital Growth and Allows the Company to Navigate Demand for the Bublcam Following Successful Delivery of First Production Round
TORONTO, ON--(Marketwired - Sep 2, 2015) - Bubl Technology Inc., creators of the Bublcam, the world's first fully spherical consumer camera, announces that following the close of its $4.6M Series Seed funding round including Samsung Ventures, J-Tech Capital and other strategic investors, it will perform organizational changes to its executive management team as it prepares for its next round of growth. The changes also come on the heels of Bubl's successful delivery of the first production round of the Bublcam to thousands of Kickstarter backers and pre-order customers. Further financial details have not been provided.
Bubl represents one of the most promising startups in the $15.9 billion VR entertainment market where spherical media has huge potential to fundamentally change the way audiences interact with content. "We have been thrilled to work with Bubl's founders on this successful raise and are looking forward to this next stage of their evolution. They are a company well positioned for tremendous growth," says Ana Serrano, Chief Digital Officer, CFC and Executive Director, IDEABOOST digital entertainment accelerator.
As part of the changes, Founder and CEO Sean Ramsay will move to Founder, CINO, enabling Ramsay, the visionary behind the Bublcam, to focus on the product vision and technology. Current VP of Hardware Dan Mills will serve as interim CEO. Mills will steer the company through the next stage of growth.
"Bubl Technology has evolved since our initial Kickstarter campaign," said Ramsay. "The original vision was a simple to use app and a spherical camera, but now we've developed so much more -- an entire ecosystem of hardware and software spherical technology for consumers. I'm excited to focus my skills and time on my passion, which is the product vision -- bringing more strategic partnerships and technical thinking to the new ecosystem we've been tirelessly building over the last 13 months. Dan is such an amazing asset to this company and he will spend more of his time focusing on the future corporate trajectory of the company."
Mills, who has been with Bubl Technology since the beginning, has extensive management experience and will ensure the business continues to exceed expectations. "Bubl Technology is growing faster than we imagined, and these changes will help us continue to deliver superior spherical technology to consumers," said Mills. "I've seen this company adapt and mature throughout the years and am excited about our bright future."
Mills will serve as interim CEO effective immediately. Bubl's Board of Directors is currently conducting an executive search for a permanent CEO to ensure that both the next round of capital growth and corporate direction will create the best options possible for Bubl.
About Bubl Technology
Bubl Technology Inc. delivers the most innovative 360-degree camera and software offerings in the world. The Bublcam is the world's first spherical consumer camera that provides users with the ability to capture fully spherical photos and videos and share them with anyone, anywhere. Bubl is a graduate of CFC's IDEABOOST digital entertainment accelerator.
View the press release on Marketwired here.
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