3D Conversion Business Legend3D Raises $19 Million

1:58 PM PST 12/12/2011 by Carolyn Giardina

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Jaap Buitendijk

The company recently performed work on "Hugo," "Transformers: Dark of the Moon," and "The Smurfs."

San Diego-headquartered 2D-to-3D conversion company Legend3D—which recently performed work on such titles as Hugo, Transformers: Dark of the Moon, and The Smurfs—raised $19 million in VC funding.

'Hugo' Named Best Film of the Year by the National Board of Review

'Hugo' Director Martin Scorsese to Receive Critics’ Choice Music+Film Award

Proceeds will fund R&D.

The financing was led by Northwater Capital Management, and is joined by return investors PAR Investment Partners and Augustus Ventures Limited.

VIDEO: 'Hugo' Q&A: James Cameron & Martin Scorsese

“With the recent success of films such as Martin Scorsese’s Hugo, 3D storytelling is primed to sweep audiences worldwide, making it increasingly critical that the technology behind-the-scenes offers today’s content creators a toolset without limits,” said David Patterson, chair and CEO of Northwater Capital Management, in a statement.