3D scanning app Polycam secures $18M

Polycam, a 3D scanning app, has just secured a significant investment during its Series A funding round.

• Impressive Funding: An $18M Series A boost, led by Left Lane Capital, includes investments from tech companies like Adobe and YouTube co-founder Chad Hurley.

• Founder's Vision: Created by Chris Heinrich and Elliott Spelman in early 2021, the app is designed to democratize 3D content creation, leveraging advanced hardware in devices such as iPhones with lidar sensors.

• Advanced Features on the Horizon: Aiming to enrich its 3D editing and collaboration capabilities, Polycam is also fortifying its AI to render objects with higher precision and exploring market expansion.

• Strategic Moves Amid Competition: Despite the crowded market and acquisition trends, Polycam boasts nearly 100,000 paying users and more than 10 million app downloads.

• Financial Growth: Polycam has maintained high revenue growth and has been cash flow positive during several months of 2023.

With the new funds, Polycam plans to expand its workforce, introduce AI enhancements to increase scan fidelity, and prepare for an exciting leap to Apple's AR headset, Vision Pro.