Visual effects and conversion company Legend3D announced this week [Feb 4] that it had closed an $8m Series B Preferred Stock offering.
Known for its patented 3D conversion technology, the company aims to use the proceeds of the sale to continue funding expansion operations.
“The funding reinforces the confidence our lead investors have in the directions we are taking in the growth of the company both domestically and internationally,” said Legend3D CEO Brian Robertson.
“Our extensive R&D investments are ensuring constant innovations in the development of market-leading software and systems, which has allowed us to marry the highest 3D conversion quality in the industry with highly competitive pricing.”
The offering was led by two of Legend3D’s original investors, Augustus Ventures Limited of Monaco and Northwater Capital Management of Toronto.
“We have just moved into our new, state-of-the-art 60,000sq ft studio in Carlsbad, California, as we continue to expand our operations both in the US and internationally,” said president Ian Jessel.
“We look forward to consolidating and broadening the productive relationships we enjoy with the studios and filmmakers here in Hollywood, as well as seeking out potentially new partnerships in China, Japan and Europe.”
Several of the company’s recent films include Top Gun 3D, Oz: The Great And Powerful, The Amazing Spider-Man, Hugo and Pirates of the Caribbean: On Stranger Tides.