Sequoia Helped Gather Raise $26m in series by Natasha Mascarenhast For TechCrunch
gather has series capitalmascarenhastechcrunch- Gather raised $26M in Series A from Sequoia a US-based VC Firm. According to Gather CEO Phillip Wang, his company raised $26 million in a Series A investment headed by Sequoia Capital. YC Continuity, Index, and angel investors including Dylan Field, Jeff Weiner, and Kevin Hartz are among the additional investors. Keep Reading to find out more about this round of funding.
Who is Gather?
Gather is a virtual reality platform that enables users to design their virtual worlds and engage in real-time social interaction. With more individuals having to work and socialize from home due to the COVID-19 pandemic, the platform—which is intended for remote employment, online learning, and socializing—has grown in popularity.
On Gather, users may design their 2D or 3D virtual space, which they can furnish with various items such as furniture, artwork, and another decor. Games, seminars, and video chats are a few examples of interactive aspects they can include. Avatars, which can be designed to look like the user or any other character they like, are used by users to navigate the virtual environment. gather has series capitalmascarenhastechcrunch-
Shared whiteboards, screen sharing, and live video conferencing are just a few of the platform’s capabilities that facilitate distant collaboration and communication. Companies, colleges, and other organizations have held online conferences, meetings, and classes using Gather.
Who is Sequoia?
Located in Menlo Park, California, Sequoia is a venture capital business. The company, which was founded in 1972, has made investments in some of the most well-known technological firms in the world. These include Apple, Google, Oracle, PayPal, and YouTube.
In addition to more established businesses looking for growth money, Sequoia invests in early-stage startups as well. The company has offices around the world. Including the US, China, India, and Israel. Sequoia invests mostly in firms in the technology, healthcare, and consumer sectors. gather has series capitalmascarenhastechcrunch-
The company is renowned for its hands-on investment approach. Its staff of seasoned venture capitalists closely collaborates with its portfolio firms to foster their expansion and success. It has a reputation for being a highly selective investor who is in great demand, Sequoia has a solid track record of identifying and supporting some of the most successful businesses in the world.
What Is Series A funding?
Series A capital, sometimes referred to as Series A funding, is a sort of investment typically made in a startup firm. Such a firm has proven its concept and gained some level of success. It is frequently the first sizable round of funding a business receives from venture capitalists, angel investors, or institutional investors.
As opposed to its seed financing round, which is often the initial round of fundraising, a firm normally receives a greater investment during a Series A funding round. Depending on the sector, stage of the company, and other variables, the total amount of funding raised during a Series A round can range greatly. Although it is often in the $2 million to $20 million range. gather has series capitalmascarenhastechcrunch-
Series A investors typically receive equity in the business in exchange for their money. This gives them a stake in it and the chance to profit if it is successful. Startups frequently use Series A capital to expand their teams, scale their operations, and accelerate their growth.
Sequoia Capital puts millions of dollars into Gather
Gathering makes it possible for individuals to come together virtually for any occasion. Whether weddings, magic conferences, or simply a typical day at the office. The startup has quietly gathered more than 4 million customers over the past few months. This is because remote workers search for better ways to communicate with one another. Today, the startup announced an investment from the same prestigious Silicon Valley firm that has funded Zoom and Slack.
A $26 million Series A financing led by Sequoia Capital has been raised for the startup. YC Continuity, Index, and angel investors including Dylan Field, Jeff Weiner, and Kevin Hartz are among the additional investors.
The startup concentrates on providing the best possible service to its most loyal customers. Provide customizing features to make virtual places feel comfortable, and hire lots of programmers. It will be utilized for everything and is a far wider communication platform.
The platform also makes use of spatial audio technology. This is used in video games, to give users the impression that they are colliding with one another. By using technology, you can essentially hear someone’s voice louder while you are close to them and softer as you move away. The company created its video conferencing system from the ground up because previous options didn’t integrate well with spatial technology.
Gather is working to make it easier for customers to recreate their homes or offices in real life by enabling more customization on its platform.
It is currently focused on work, but the majority of its current monthly income, which is roughly $400,000, comes from one-off events. The Sequoia team thinks “work-from-anywhere” is a trend that will continue.
Who Is Natasha Mascarenhas?
Natasha Mascarenhas is a senior reporter for TechCrunch. She focuses on trends in venture funding and early-stage startups. She keeps tabs on the various networks, such as immigration and loneliness, that influence founder success. Natasha covered the same subject matter for Crunchbase News pbeforejoining TechCrunch. She is a proud native of New Jersey and has bylines in the Boston Globe, The San Francisco Chronicle, and BostInno.