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Holoportation Startup PORTL Inc. Lands $12M Series A Led by TRUE Capital Management

·5 min read

The company that has been in the news for beaming people globally, as well as major brand activations, secured funding led by TRUE Capital Management, with investments by Marshawn Lynch, Quavo, Breanna Stewart, Albert Pujols, Luke Walton, and more pro sports and entertainment stars; Tim Draper, one of the first backers of the startup, also increased his investment.

PORTL CEO David Nussbaum (center) with hologram investors Quavo (left) and Marshawn Lynch (right)

PORTL closed a $12M Series A led by TRUE Capital Management, returning investor Tim Draper, and a group of pro athletes and artists. Quavo and Lynch appear in PORTL Epic hologram devices. Photo by Steven Hong. More info at PORTLhologram.com.
PORTL closed a $12M Series A led by TRUE Capital Management, returning investor Tim Draper, and a group of pro athletes and artists. Quavo and Lynch appear in PORTL Epic hologram devices. Photo by Steven Hong. More info at PORTLhologram.com.
PORTL closed a $12M Series A led by TRUE Capital Management, returning investor Tim Draper, and a group of pro athletes and artists. Quavo and Lynch appear in PORTL Epic hologram devices. Photo by Steven Hong. More info at PORTLhologram.com.

Tim Draper and PORTL CEO David Nussbaum

At PORTL's Los Angeles headquarters, investor Tim Draper holoports in via the PORTL Epic. Draper led PORTL's seed round in 2020 and returned to join the new $12M Series A. Photo by Steven Hong. More info at PORTLhologram.com.
At PORTL's Los Angeles headquarters, investor Tim Draper holoports in via the PORTL Epic. Draper led PORTL's seed round in 2020 and returned to join the new $12M Series A. Photo by Steven Hong. More info at PORTLhologram.com.
At PORTL's Los Angeles headquarters, investor Tim Draper holoports in via the PORTL Epic. Draper led PORTL's seed round in 2020 and returned to join the new $12M Series A. Photo by Steven Hong. More info at PORTLhologram.com.

Los Angeles, Nov. 18, 2021 (GLOBE NEWSWIRE) -- PORTL Inc., the revolutionary ‘plug & play’ holoportation platform which lets people beam anywhere in the world in real-time, lifesize, 3D form, announced today the close of its $12M Series A round. The round was led by TRUE Capital Management LLC (Coinbase, Palantir) and was joined by returning investor, Tim Draper (Tesla, SpaceX, Skype), plus entertainment and sports superstars, including Marshawn Lynch, Quavo, Breanna Stewart, Albert Pujols, Luke Walton, and others.

“CEOs, brands, universities, as well as crypto artists are all using PORTL to connect and communicate in entirely new ways. PORTL is going to change the way we work, learn and play forever,” said David Nussbaum, Founder, Inventor and CEO of PORTL. “We’re very lucky to have investors who see the vision as well.”

According to Doug Barry, PORTL’s Co-Founder/COO and former Pandora VC and EA executive, the new financing will be used to expand PORTL's global live streaming platform, launch its mobile and MINI products, grow its tech and sales team and to service its quickly growing customer base across live events, entertainment, education, retail, healthcare, corporate communications, and tech.

Participants in the round also include: Robert Griffin III (RG III), Deandre Ayton, Nneka Ogwumike, and Managing Partners of Structure Capital, Jillian Manus (Uber) and Mike Walsh (Uber, SalesForce).

"I wanted to do something different when our album Culture III dropped, and I had this wild idea to use holograms to reach fans,” said Quavo of Migos. “We jumped in a PORTL and hit four cities at the same time. We played some tracks and talked about the music. We raised the bar!"

“PORTL’s technology is like something from the future,” said Marshawn Lynch. “I’ve seen how it works myself by stepping into PORTL’s platform and I was blown away.”

“I’m a big fan of PORTL,” added Luke Walton. “It’s surreal to see a life-size hologram of yourself up close!”

“The idea that you can show up as a hologram in another location seems almost unbelievable but I love that it is taking off now,” said Albert Pujols. “PORTL technology is something people are going to want to learn about.”

“PORTL’s technology is beyond exciting, with virtually endless applications across business and consumer markets,” said TRUE Capital Management Co-Founder and CEO Doug Raetz. “Global markets are still dealing with the effects of the pandemic, so the ability to connect across the miles via holoportation with such clarity and realism is profound. We’re excited to play a part in the next phase of growth for this innovative company with its transformational technology.”

In the year since the seed round, Reuters named PORTL the number one innovation at Mobile World Congress 2021 Barcelona, and PORTL was announced as a triple honoree at the CES Innovation Awards for 2022. PORTL perfected its Epic platform, which is the only plug-and-play, completely self-contained, 4K volumetric live streaming platform for presenting the imagery commonly referred to as holograms. PORTL’s exciting new form factors such as the upcoming Miniare expected to come to market in early 2022.

PORTL has completed projects with IWC, HBO, Netflix, DHL, Chase Bank, as well as the telecoms AT&T, T-Mobile, and Orange SA.

Sports and holograms continue to be attracted to each other with activations at Mercedes Benz Stadium, the Major League Soccer All-Star Game, the Major League Baseball All-Star Game FanFest, the U.S. Open, and Formula E Racing. Music artists have made use of PORTL to live beam including P. Diddy, Kane Brown, and Migos.

PORTL has also been chosen by the crypto community as the perfect showcase for NFT art and the company completed projects with NBA champion Danny Green, Christie’s, amfAR, NYC.NFT, Miami Crypto Experience, and for this year’s upcoming Art Basel.

In a historic first, the University of Central Florida’s School of Health Professions and Sciences is using a PORTL to beam doctors, teachers, and patients to students for detailed, engaging sessions on symptoms and care. This is the first of a series of PORTLs in medical education that will be networked under the brand Dr. Hologram.

Photos and video for media use here.

About PORTL Inc.

PORTL Inc. is the maker of hologram devices and the software and cloud services to support holoportation. Founded in 2018 by inventor and CEO David Nussbaum, its award-winning products are now in use all over the world, beaming executives, tech and science experts, and sports and music celebrities to events, displaying NFTs and other objects, and becoming a vital new tool for education, retail, marketing, and the hospitality industry. PORTL's headquarters are in Los Angeles and it has satellite and distributor showrooms in New York, Las Vegas, and Dubai. PORTL seeks to bring people together across every kind of divide. For more information go to PORTLhologram.com.

About TRUE Capital Management

Founded in 2007, TRUE Capital Management is a wealth management firm that specializes in guiding its diverse roster of clients to financial security and generational wealth. The firm has built a reputation for serving high-profile clients across all major sports worldwide, the global entertainment industry, and entrepreneurs innovating in our ever-evolving business world.

As an independent RIA, TRUE Capital currently manages $2 billion of client assets, and also offers robust alternative investing strategies spanning venture capital (TRUE Capital Ventures), hedge/options, private debt, real estate, and impact investing. Please visit www.truecapitalmgmt.com for more information.

PORTL Social Media: Twitter, Instagram, YouTube

Media Contacts:

Owen Phillips, Thought Gang Media for PORTL, owen@thoughtgangmedia.com

Lana Rushing, Rushing PR for TRUE Capital, lana@rushingpr.com or 310-428-1805

Attachments

CONTACT: PORTL Inc. owen@thoughtgangmedia.com


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