Above: Vreal lets you spectate inside virtual reality in games such as Surgeon Simulator. Vreal has raised $11.7 million in venture capital funding for its platform for streaming virtual reality experiences to both VR users and spectators on 2D screens.

Axioma Ventures led the round, with contributions from new investors Intel Capital and the Akatsuki Entertainment Technology Fund. Existing investors who also participated included Upfront Ventures, Vulcan Capital, and CRCM Ventures.

Seattle-based Vreal will use the funding to further develop and launch its platform, which it hopes will pave the way for gamers to create, share, and enjoy video game content within virtual reality. The money will give the company some runway to work on refining its platform and content creation tools as the market for virtual reality gaming starts to take off.

So far, the market growth has been slower than expected. Above: Todd Hooper, CEO of Vreal in Seattle.

Vreal CEO Todd Hooper said in an interview with GamesBeat that the company is watching its expenses in light of VR’s gap of disappointment, and that was one of the reasons why it was able to raise the money. He said the funding could give the company time to get its platform right as the market for VR livestreaming developers. Read more from venturebeat.com…

thumbnail courtesy of venturebeat.com