FARMINGTON, Conn.--(BUSINESS WIRE)--Polarity, the memory augmentation platform built to power teams with instant access to critical information, today announced a $8.1 million Series AA funding round led by TechOperators.
Additional investors in the round include Shasta Ventures, Strategic Cyber Ventures, Gula Tech Adventures, and prominent angel investor Oliver Friedrichs, former CEO and Founder of Phantom, among others. The funding will be utilized to expand Polarity’s offerings with hosted versions in addition to expanding engineering and sales teams.
Polarity developed computer vision algorithms to enable IT admins, analysts, cybersecurity and enterprise professionals to capture, recall, and share intelligence across workflows, curbing threats and solving time-sensitive business issues with up-to-date intelligence — all in real-time. Polarity’s customers range from a 20 person managed security service provider through Fortune 10 enterprises and the US federal government.
“The promise of Augmented Reality to enhance human intelligence and boost productivity is world changing,” said Paul Battista, co-founder and CEO of Polarity. “Most knowledge workers sit in front of a computer screen for the majority of their day. For the vast majority of knowledge workers, looking through a pair of goggles to look at another screen is uncomfortable and inefficient. We deliver the benefits of AR without the bulky and socially awkward headsets.”
“Augmented reality used to be in the realm of science fiction, however, it is now fully functioning technology that is being deployed across a significant portion of the Fortune 100,” said Edmund Dorsey, co-founder and CTO of Polarity. “Leveraging our experience enabling teams of intelligence analysts, we understood how to design information displays that had the ability to enhance human memory and analytical capabilities.”
Reducing Cognitive Load with Computer Vision
Polarity’s on-screen overlays reduce cognitive load by helping knowledge workers keep track of data beyond the capacity of human memory. The platform’s unique, headset-free AR experience provides users with exceptional data awareness and recall capabilities. By adopting Polarity’s augmentation platform, analysts and security teams are able to efficiently and intelligently collaborate, resulting in both higher performance value per worker and a more secure enterprise overall.
“Our entire team is thankful to the trust and vision of our investors,” said Joseph Rivela, co-founder and Chief Strategy Officer. “We are looking forward to this next wave of implementing our technology across government, financial services, healthcare, manufacturing, and retail industries — there is vast potential for how this technology can be applied.”
New Key Executive Board Members
Polarity adds Tom Noonan and Dan Ingevaldson to its board of directors. With the addition of Noonan, Polarity’s board now includes two entrepreneurs with experience previously building billion-dollar companies. Noonan is the former chairman, president and CEO of Internet Security Systems, Inc. (Nasdaq: ISSX), which was acquired by IBM for $1.3 billion.
Ron Gula, previously CEO of Tenable Network Security (Nasdaq: TENB), is one of Polarity’s early investors and board of directors members; Dan Ingevaldson is the previous co-founder of Endgame, which recently announced a planned exit with Elastic. He will join the board as an observer.
“When the Chief Information Security Officer of a Fortune 500 company mentioned we should check out Polarity, we were thrilled to meet the team. When we saw the tech for the first time, we were even more excited to be involved,” said Tom Noonan from TechOperators. “Legacy tools simply can’t keep up with the ever-evolving barrage of security threats and time-sensitive decisions faced everyday by organizations. The Polarity team has an optimal combination of real-world experience and an innovative approach to drive the adoption of augmented reality across the enterprise.”
Polarity improves decision-making by allowing users to capture, recall, and share intelligence across any workflow. In addition to bolstering collective memory, the Polarity user community has built over 80 integrations. When users subscribe to integration data, they are able to leverage all their data as part of the overlay across tools and workflows. Polarity’s customers include Fortune 10/100/500 enterprises, small startups and the U.S. federal government. For more information, please visit https://polarity.io/.