Here Be Dragons Closes $10 Million Series A Financing
by Lucas Matney
Here Be Dragons, an immersive production studio focused on virtual reality content, has closed a $10 million Series A round led by Discovery Communications with participation also coming from David Droga and David Jones. The raise sets the virtual reality studio’s valuation at $55 million pre-money, the company confirmed to TechCrunch.
As part of the round, Discovery exec Rebecca Howard will be joining Here Be Dragons’ board of directors.
While content bets are never all that simple (let alone ones focused on emerging technologies like VR), Here Be Dragons CEO Patrick Milling-Smith believes his company is in a great place after reaching profitability and working with partners like Nike, Samsung, The New York Times and GE.
The Series A raise will go toward building out some of the various divisions within the studio, Milling-Smith tells me, with a particular focus on creative development.