$35 million from Structural Capital and others.
IMVU Inc. announced a strategic round of investment of $35 million from a group of investors including NetEase. The investment comes as IMVU Inc. reformed under Together Labs. 2020 saw a record growth of IMVU with over seven million monthly active users. 400,000 products are created every month by IMVU users.
“With IMVU’s accelerating growth over recent years, the launch of VCOIN, and the development of the new WithMe platform, we felt timing was right to bring all of these products under a new roof to reinforce our commitment for creating authentic human connections in virtual spaces,” said Daren Tsui, Chief Executive Officer at Together Labs. “We appreciate the confidence this major investment represents led by NetEase and other investors. The formation of Together Labs, is a new chapter for the company allowing us to aggressively pursue our vision of immersive social metaverses where authentic friendship and peer to peer commerce thrive.”
IMVU Inc. was recognized last year as the 2020 Bay Area Best Places To Work.
Source: IMVU Press Release
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