Meet Polycam, a 3D scanning app founded in 2021 by Chris Heinrich and Elliott Spelman, recently announced the successful closure of an $18 million Series A funding round. The investment round was led by Left Lane Capital and featured participation from prominent investors, including Adobe Ventures and YouTube co-founder Chad Hurley.
The newly acquired funds will be utilized to enhance the app’s capabilities, introducing features such as advanced 3D editing and collaboration tools. Additionally, Polycam plans to invest in training artificial intelligence (AI) models to improve the rendering of 3D objects and explore new market opportunities.
Polycam’s approach to 3D capture leverages smartphone sensors, particularly the lidar sensor found in recent iPhones. The app provides a suite of tools catering to various use cases, such as scanning the user’s surroundings in 3D, creating 3D models of objects using photogrammetry, and offering a library of free 3D models from the Polycam community. With a subscription-based model, Polycam charges $100 per year for advanced features aimed at professional users.
The startup has seen significant traction, boasting nearly 100,000 paying customers and over 10 million downloads of its iPhone and Android apps. Polycam aims to capitalize on the momentum and expand more aggressively, including developing new AI-driven capabilities, launching enterprise subscription tiers, and doubling its workforce by 2025.
As part of its expansion plans, Polycam is set to enter the augmented reality (AR) space by catering to the Vision Pro, Apple’s AR headset. The company is also focusing on training AI models to address gaps in the 3D object scanning process, enhancing the overall quality and fidelity of Polycam’s scans.
Despite facing market consolidation in recent years, with notable acquisitions like Niantic acquiring Scaniverse and Discord acquiring Ubiquity6, Polycam has managed to carve out a really nice niche for itself in the competitive landscape of smartphone-based 3D object capture. The successful Series A funding round positions Polycam to continue innovating and playing a significant role in the democratization of 3D content creation for all.