- Arlene connects XR publishers and advertisers through unique ad placements
- Platform allows publishers to create and programmatically manage 2D, 3D, 360 video, and playable ad placements
- The investment is GITP Ventures’ first foray into XR/AR technology
New York City, New York (Wire Services) April 8, 2019
GITP Ventures, a private equity firm based in Panama, announced today that the company has made its first investment of 2019, a pre-seed funding into pioneering XR startup Arlene.
Arlene is an ad monetization platform built for both XR publishers and advertisers. The platform aggregates publisher supply and advertiser demand, creating a marketplace across various unique ad placement including 2D/3D objects, video, and playable.
“There has been explosive growth in the XR space and that trend will continue,” said Michael Puscar, founder and president of GITP Ventures. “Advertising is everywhere around us except in the XR space. With Arlene, that is about to change.”
Led by a team of ad technology, finance and XR veterans, Arlene is still pre-seed with $250,000 in total funding. The company recently partnered with Oiga Technologies, another GITP Ventures company, for development services. Oiga is helping Arlene with backend and UI/UX development.
“As we develop a platform to help scale and monetize the XR industry, we’re excited to partner with GITP Ventures and Oiga Technologies,” added Bob Reisenweber, co-founder of Arlene. “GITP Ventures provides our business with capital and strategic resources, while Oiga adds expertise in machine learning and big data that will help take our technology to market.“
This round of investment also included funding from MathCapital and other undisclosed angel investors. Reisenweber indicated that Arlene is expected to launch a beta version of the product in June 2019.