Motion Capture Tech company closes on $7.6m Series A capital for developing new sensor technology that enables high-precision tracking in emerging applications; new CRO will support growing expansion into mocap market and enterprise VR/metaverse space.
Motion capture technology company StretchSense has appointed Chris Simard as Chief Revenue Officer. The new hire will support the company’s goals of expanding and accelerating its position in the motion capture market and into the enterprise VR/metaverse space.
According to Stretchsense, “the rapidly developing corporate virtual training industry is estimated to be worth more than US$300 billion in 2022 and is expected to grow to more than US$550 billion by 2027. Due to shorter careers with increased complexity, businesses are facing issues of needing to train employees at a faster rate in time- and safety-critical situations where there is money or safety at stake.”
StretchSense is developing new solutions via its high-tech MoCap glove to promote safe and efficient hands-on training of employees in the metaverse.
“The StretchSense team has done an incredible job solidifying themselves as a pioneer in the MoCap/VR space, and I am looking forward to supporting their global growth,” commented Simard. “Together, we will be providing greater value for our game and VFX studios by cost-efficiently increasing their delivery of higher quality content, as well as enabling enterprise companies to achieve safer and more efficient high-tech training environments through the power of VR solutions.”
In his new role, Simard will support the company in its global expansion, including creating a larger United States-based team and building relationships within the VR/AR industry as its market share increases.
“We are super excited to welcome Chris on the StretchSense business as we journey towards evermore natural and immersive virtual worlds,” shared StretchSense’s CEO and Founder, Ben O’Brien. "His years of go-to-market experience are the perfect complement to our leadership team, and he is already driving incredible positive change in the business.”
Simard has served a variety of customers in establishing technological infrastructure. He worked at APC by Schneider Electric and Schneider Electric before moving to TOMRA Fresh Food, where he created and implemented strategic sales initiatives. Most recently, he served as Vice President of Commercial Operations at Ice Gen Corp.
StretchSense recently finalized its $7.6m Series A capital raise led by Scotland-based Par Equity, with participation by existing StretchSense investors GD1, the NZ-based venture capital firm, and Scottish Enterprise, Scotland's national economic development agency. The investment will accelerate the company’s global expansion plans in developing new sensor technology that enables high-precision tracking in emerging applications.