Gather Hqs 26m Series Sequoia an Impressive C Funding Round
Gather Hqs 26m Series Sequoia
Gather Hqs 26m Series Sequoia – Gather 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 as 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.
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.
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What is Gather
The virtual office for the company’s Gather mysteriously vanished. In the virtual world, video chats usually start as users get close to one another stopped working. Some people believed their program was experiencing a malfunction or outage.
However, they quickly discovered that the purge in Gather’s “metaverse” was planned and the outcome of real-world layoffs at the two-year-old firm. Nearly one-third of the 90 employees of Gather. According to co-founder and CEO Phillip Wang, were being let go in an email to the fired personnel.
Gather is working to make its platform more customizable for customers so that it will be simpler for them to recreate their homes or offices in real life. A corgi was on the desk, there were jack-o-lanterns, and one reporter even added some floor plants to the decor during the workplace tour.
Gather’s present focus is on work, but most of its current monthly income, roughly $400,000, comes from one-off events. The ultimate goal, according to Wang, is a world in which a person may walk from their Gather workplace into a Gather bar. Suppose the business successfully attracts remote teams to its platform. In that case, it can assist those teams in hosting off-sites, team-building exercises, or networking events on its platform.
Gather Hqs 26m Series
Gather 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 as 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.
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. Wang claims that the firm he founded with pals after receiving degrees from Carnegie Mellon has three simple objectives: concentrate on providing for its most loyal customers, add personalization features to make virtual spaces feel comfortable, and hire lots of engineers.
What Is Sequoia
Shaun Maguire of Sequoia Capital recognized a chance to scale the metaverse via venture capital. Sequoia, in particular, “helped Unity, the gaming engine company, figure out their business strategy, and [that model] is unorthodox,” the speaker claimed. I’ve always thought it would be wonderful if we could do something similar when I look at them. Maguire asserts that he and the Sequoia team think “work-from-anywhere is here to stay” in response to whether Gather is only a pandemic phenomenon.
According to Phillip and his team, the inspiration for Gather came before the pandemic. Then, they understood that certain physical limitations make it difficult to maintain connections with people outside of your small community; the epidemic just worsened this problem.
Gather Hqs 26m Series Sequoia
The platform also uses spatial audio technology, common in video games, to give users the impression that they remain colliding with one another. For example, thanks to technology. You can hear someone’s speech louder while you are close to them and softer as you move away. Wang claims that because existing solutions didn’t integrate well with spatial technology. The company created its video-conferencing system from the ground up.
Wang refused to mention any difficulties the business was currently facing, asserting that every startup must cope with issues. Still no (virtual) fires.
- Gather, a platform for virtual gatherings secured $26 million in Series A funding.
- Sequoia Capital led the round, including Index Ventures, YC Continuity, Jeff Weiner, Dylan Field, and Kevin Hartz.
- Additionally, the business plans to use the capital to keep growing its operations and clientele.
- Gather, led by CEO Phillip Wang, offers virtual places for events, conferences, offices, and college campuses, among other forms of gatherings.
- The business begins with a web-based video calling service that meets people’s demands today.
- It mixes video calling with a 2D map so users can move around and speak to nearby people.
What Recent Funding Did Sequoia Capital Receive?
There have been 1,795 investments made by Sequoia Capital. When Nimble raised $3.5M on Mar. 28, 2023, it was their most recent investment. Sequoia Capital has invested in 205 diverse businesses. When Close Factor raised $15M on January 17, 2023, that was their most recent diversity investment.
From its founding on July 15, 1970, Sequoia Fund has received advice from Ruane, Conniff & Goldfarb L.P. The company has handled the management of the Fund with a long-term, value-oriented perspective through several market cycles, portfolio managers, and generations of leadership.
Gather, led by CEO Phillip Wang, offers virtual places for gatherings, including conferences, companies, festivals, and college campuses. In addition, the business is launching a web-based video calling service that meets modern users’ needs. Users can move around and speak to others who are right next to them, thanks to the integration of video calling and a 2D map. In addition, users can create their own unique, dynamic spaces using the creation tools. Gather has hosted more than 150 paid events, including weddings, birthday parties, conferences (ICML, RSS, STOC), and office space for remote teams. Including Coinbase, Amplitude, and Embark Trucks.