SOURCE: AltspaceVR

July 29, 2015 07:30 ET

AltspaceVR Raises Additional $10M to Grow Team and Accelerate Product Development

AltspaceVR Communication Platform Now Used in Over 50 Countries

REDWOOD CITY, CA--(Marketwired - Jul 29, 2015) - AltspaceVR, a software company using virtual reality to provide a new communication platform, announced today that it has raised an additional $10.3M. Participants in the 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.

Currently, AltspaceVR virtual reality communication software is available for Oculus users, Mac and PC desktops, and 3D TV. The additional funding will be used to grow the AltspaceVR team and accelerate product development. Including $5.4M in 2014, AltspaceVR has now raised $15.7M in total capital.

"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."

AltspaceVR, which officially launched its open beta in May 2015, is bringing users together from over 50 countries to share a variety of experiences online, including gaming, streaming content through popular platforms such as Netflix and Twitch, sporting and eSports tournaments, and business collaboration. The company is hiring and has also recently moved into larger offices to accommodate its rapid growth.

For more information about AltspaceVR, or to learn how you can help create the future of virtual reality, visit AltspaceVR.com.

About AltspaceVR
Based in Redwood City, California, AltspaceVR, a virtual reality software company, enables people to communicate in the most natural and fulfilling way possible online.

Founded in 2013, investors include Tencent, Dolby Family Ventures, Raine Ventures, Lux Capital, Western Technology Investments, Maven Ventures, Promus Ventures, Streamlined Ventures, Rothenberg Ventures, Comcast Ventures, Formation 8, Google Ventures, Foundation Capital, SV Angel, Haystack Fund and Startcaps.

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