Additionally, the startup is creating a stand-alone version of its “meetaverse” platform.
In a second round of investment, Allseated, a platform that assists event planners with digitally showcasing and planning locations, has secured $20 million.
Allseated is a collaborative space-visualization platform that was founded in 2011. It provides tools for producing 360-degree views of buildings and creating floor plans, enabling venues and planners to make virtual walkthroughs for potential clients.
Allseated design platform. Image Credits: Allseated
The San Francisco-based business sought to “expand beyond event visualizations into corporate metaverses” last year and received $15 million in capital. Allseated did, in fact, launch a “metaverse for enterprises” in May of last year. However, the company also announced today that it is spinning out its so-called “meetaverse” division into a separate business, though it gave no further details regarding the reason behind the move, the person leading it, or the source of funding.
Allseated
Allseated shifting its whole attention back to real-world events may have something to do with the metaverse hype train fall, it is probably reasonable to presume. When the globe dug down behind closed doors, the pandemic proved a windfall for virtual events platforms. Companies like London-based Hopin earned a stratospheric $5 billion value only to falter when real-world events returned to the battlefield.
The startup and venture capital industries have also seen a reset; Dice, for example, just revealed this week that it had secured $65 million to develop its platform for finding events and tickets. In other news, Andreessen Horowitz-backed online events platform Run The World was purchased by event management software startup EventMobi last month. last acquisition may indicate that virtual events are becoming more and more complimentary to traditional face-to-face gatherings.
In order to expand its space visualization and collaboration platform, Allseated just secured $43 million in capital, including investments from Magma Ventures, Level Structured Capital, Vestech Partners, NYFF, and WGG.
