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APX Labs Secures $10 Million Venture Investment from NEA to Bring Wearable Tech to the Enterprise

New product release enables millions to do their jobs better, safer and faster with smart glasses

WASHINGTON, April 22, 2014-- APX Labs, the maker of Skylight, the leading enterprise software platform for smart glasses, today announced it has secured $10 million of Series A venture financing. The investment was led by New Enterprise Associates (NEA), and brings APX Labs' total investment to date up to $15.8 million. The company also announced the general availability of Skylight 2.0, with powerful new features for the workforce.

"During the past three years, we have built the most advanced software for wearable technology. This investment will allow us to serve even more customers and continue to develop exciting and emerging use-cases for smart glasses," said Brian Ballard, CEO of APX Labs. "Smart glasses and augmented reality-enabled workers are no longer relegated to pie-in-the-sky visions of the future. We now have the technology and the enterprise partners to get our technology into the field in a big way. Large organizations are making strides with impactful deployments, and we haven't even scratched the surface of what is possible with Skylight in the enterprise."

"Smart glasses will improve the productivity and quality in the workplace for millions of people," said Peter Barris, managing general partner at NEA. "Without a doubt, APX Labs is going to reshape the enterprise software industry for wearable tech. They have a great product and a great team, which is hitting its stride as industries begin to see the value APX Labs creates. NEA is excited to invest in the APX Labs team to help fuel their continued success and market leadership."

In conjunction with the financing, Mr. Barris and NEA Partner, Dayna Grayson will join the company's board of directors.

Skylight 2.0 for the Enterprise

APX Labs created Skylight, the most advanced software platform for wearable technology. Skylight provides a gateway to all of the data, applications and help workers need for their jobs, in real-time and while hands free. With this software on smart glasses, users see an overlay of information in their field of view – a game changer for the workplace. Skylight works with multiple types of smart glasses, such as Google Glass and Epson Moverio, and integrates with existing enterprise systems including those from SAP, Microsoft and others. Large system integrators, such as Deloitte, are applying their industry expertise with Skylight to develop new and powerful use cases.

The Skylight 2.0 release includes new and enhanced functionality for the client, the server and the dashboard. New innovative features include telestration, beacons, radar and more.

•Telestration provides the user with immediate, contextual and visual feedback from a remote supervisor or expert to help them do their task at hand.

•Beacons guide the user toward a specific location or object. Beacons show up as a green point rendered at a specific real-world location. Guidance to the point is rendered as a contextual directional arrow.

•'Radar' widget is a media panel instrument, which shows the location of points relative to the user. This enables the user to see at a glance where important objects or people may be.

Skylight is currently used in a variety of Fortune 500 companies from industries, including: energy, healthcare, logistics, manufacturing, media and oil and gas, with new use-cases continually being developed to meet worker demands. APX Labs estimates that up to 1 in 5 adults in the world work in jobs where Skylight can provide immediate tangible benefits.

About APX Labs:

Since 2010, APX Labs has been the leader in developing enterprise software for smart glasses. More additional information, visit www.apx-labs.com

About New Enterprise Associates:

New Enterprise Associates, Inc. (NEA) is a leading venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With approximately $13 billion in committed capital, NEA invests in information technology, healthcare and energy technology companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's long track record of successful investing includes more than 175 portfolio company IPOs and more than 300 acquisitions. For additional information, visit www.nea.com


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