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viewImagineAR Inc.

ImagineAR provides technology that blends together the real with the digital

Snapshot

The Vancouver-based company's augmented reality-as-a service platform enables businesses and individuals to launch their own AR campaigns without any prior experience

ImagineAR Inc. - ImagineAR's technology blends together the real with the digital

Quick facts: ImagineAR Inc.

Price: 0.27 CAD

CSE:IP
Market: CSE
Market Cap: $50.97 m
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  • Offers augmented reality-as-a service platform that enables businesses, individuals to launch their own AR campaigns
  • Mobile users can create 3D holograms, videos, and images to share on social media  
  • Building partnerships in the sports, entertainment, and gaming industries  

What ImagineAR does:

ImagineAR Inc (CSE:IP) (OCTMKTS:IPNFF) creates augmented reality (AR) technology that blends together the real with the digital.

The Vancouver-based company, which changed its name from Imagination Park Technologies in April 2020, has developed ImagineAR.com and its AR-as-a service platform that enables businesses or individuals to launch their own AR campaigns without any prior programming or technology experience.  

Every organization from professional sports franchises to small retailers can develop interactive AR campaigns that inform, entertain and reward consumers with any type of content - including 3D holograms, videos, and images as well as advertisements and coupons. Consumers can then enjoy a game-like experience that they can instantly share on social media.

The platform, protected by five patents, is simple to use. Just point a mobile device at logos, signs, buildings, products, landmarks, and more to create the desired content that is activated via AR visual markers and GPS locations. The interactive content is hosted in the cloud and managed using a menu-driven portal.

The ImagineAR.com mobile app is available in the IOS and Android mobile app stores.

How is it doing:

For 2020, ImagineAR has been building partnerships in the sports, entertainment, and gaming industries while licensing its technology and strengthening its management team. It has also raised more than C$4.5 million in recent months to fund its expansion plans. 

One of its biggest tie-ups is with top-ranked Spanish soccer team Valencia CF to provide its AR platform to engage its huge global fan base of 7 million. The two-year partnership represents a major milestone for ImagineAR, as it creates huge visibility. Valencia is also its first professional sports partner outside the US.

In late 2020, ImagineAR also landed a similar arrangement with another Spanish club -- Real Sociedad of La Liga -- to provide its Augmented Reality SDK Platform for fan activation and engagement.

To further its connections with the sports industry in North America, the company recently signed a five-year revenue-sharing agreement with the NFL Alumni Academy to help launch new mobile interactive products. And ImagineAR has started a partnership with the Minnesota Wild’s double-A hockey affiliate for a fan engagement and sponsorship program. 

The company has also teamed up with minor league baseball team the Louisville Bats, a Triple-A affiliate of the Cincinnati Reds, to help support local restaurants affected by coronavirus shutdowns. The initiative offers fans the chance to win prizes by ordering curbside pick-up from a participating restaurant and sharing on social media a picture of the experience that also incorporates a Mascot AR e-collectible image.

The Sacramento Kings NBA basketball franchise is also a partner with ImagineAR. The team wants to add AR engagement opportunities to its mobile app that fans can access on their smartphones for AR scavenger hunts, in-arena photo opportunities with digital players, sweepstakes, giveaways, interactive sponsorship campaigns, and more.

ImagineAR recently gained a stronger foothold in the world of sports after winning a five-year, $300,000 licensing agreement to provide its AR platform to custom graphics company SlapItOn for the launch of its new line of interactive products featuring athletes and celebrities. SlapitOn is owned by an elite group of well-connected, professional US athletes. ImagineAR will also earn revenue fees under the deal.  

The company naturally is striking other tie-ups beyond the sports industry and has started working with network and communications firm KLA Laboratories and partners with Engaged Nation, a digital entertainment marketer to the casino industry, to use ImgaineAR’s interactive holographic content to give casinos the ability to reward participants for continuous online play.

ImagineAR inked a memorandum of understanding with fellow tech group Loop Insights Inc (CVE:MTRX) (OCTMKTS:VRZPF) to form a combined platform aimed at the sports, entertainment, and retail industries. ImagineAR will combine its AR technology with Loop’s artificial intelligence (AI) expertise to make the customer experience hyper-personalized.

Recently, in a milestone move, ImagineAR hooked up with Shoppers Drug Mart to deliver an immersive AR experience to over 2,500 corporate staff, pharmacist-owners, and front store managers across Canada. Using the ImagineAR Custom White-label mobile app, Canada's largest pharmacy chain will integrate dynamic AR into live-streamed virtual event sessions. 

The company is also using the 2020 holiday season to showcase its AR. Virtual tour technology will be on display at the Streetsville neighborhood of Mississauga, Ontario to create AR walking tours of the main street, showcasing the area’s old-world charm with more than 300 small businesses. The company also offers an app that allows Santa to appear in full 3D via parents' smartphones.

Meanwhile, ImagineAR has added seasoned veterans from college sports, entertainment, and newspapers to its management team. 

In late 2020, First Tube Media CEO and founder Andrew Beranbom joined as an advisor to the CEO Alen Paul Silverrstieen for the purpose of launching Immersive AR Engagement during live streaming branded music concerts. Division ONE Sports founder Troy Miller and former Portland Trail Blazers CIO Chris Dill are also now advisors with the goal of bringing AR technology to college and pro sports stadiums. Former Pro Bowler and Washington quarterback Gus Frerotte is a key advisor as well.

Also advising the CEO is Mike Anderson, who ran The Sun and the News of The World in the UK. He is expected to accelerate the company's presence and sales throughout the UK and Europe. And former Universal Music Group executive Mike Tunnicliffe, who was recently appointed as a senior advisor to Silverrstieen, now sits on the board of directors.

Inflection points:

  • Earn revenue fees under SlapItOn deal   
  • Anticipate bottom-line boost from revenue-sharing partnerships and new contracts  
  • Penetrate further into the UK and European markets 

What the boss says:  

“To be selected by Shoppers Drug Mart for their company-wide events validates ImagineAR as the leading AR immersive platform available today," said CEO Alen Paul Silverrstieen after the company announced the major deal with Canada's largest pharmacy chain. 

"With the success of this interactive program, we expect to aggressively market our AR Immersive Event Solution to retail companies around the globe.”

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

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