Redwood City, California based AltspaceVR has raised a new $10.3 million funding round to help accelerate product development of their software to enable people to communicate naturally in virtual reality.
The foundation of AltspaceVR is based on allowing users to hang out, chat, and enjoy experiences with others in virtual reality. Whether or not it is browsing the web or watching synchronized video playback from Netflix, AltspaceVR is working hard to make VR social. One of the nerdiest but exhilarating new experiences on AltspaceVR is sitting down with a group of friends around a table game of Dungeons & Dragon.
Currently, AltspaceVR virtual reality communication software is available for Oculus Rift users, Mac and PC desktops, and 3D TV.
“We’re working hard to make AltspaceVR the most natural and fulfilling way to communicate online, and our new capital will help us get there faster,” said Eric Romo, founder and CEO of AltspaceVR. “We can’t wait to show our community some of the exciting new things we are building.”
Today’s news takes the company’s total funding past the $15 million mark, after it raised $5.4 million across two seed rounds last year. Participants in this latest round include return investors Tencent, Dolby Family Ventures, Raine Ventures, Lux Capital, Western Technology Investments, Maven Ventures, Promus Ventures, Streamlined Ventures and Rothenberg Ventures, along with new investor Comcast Ventures, the venture capital arm of media giant Comcast.
AltspaceVR, which officially launched its open beta in May 2015, is bringing users together in a variety of experiences rooted in fun social behavior that is much needed in VR where many have argued that the slapping on a headset is anti-social. The company is hiring and has also recently moved into larger offices to accommodate its rapid growth.