Genies, a US-based 3D avatar technology developer backed by talent managers Management 360 and CAA, has raised $15m in new funding, Forbes reported yesterday.
The round included Tull Investment Group, an investment vehicle for entertainment executive Thomas Tull, as well as private equity firm L Catterton, venture capital firm New Enterprise Associates (NEA) and private investors Yoshiki, Jim Breyer and Victor Oladipo.
Formerly known as Blend Systems, Genies has built a mobile app that enables users to create personalised avatars for use on social media, and is also providing its technology to third-party app developers.
The company raised $10m from NEA, Tull Investment Group and individuals including Sean Rad, Jared Morgenstern, Tony Robbins, Carmelo Anthony, Kyrie Irving, Richard Sherman, A$AP Rocky, Offset, The Chainsmokers and 50 Cent in November 2018.
CAA subsidiary CAA Ventures and Management 360 had joined Macro Ventures, TGZ Capital and assorted angel investors to invest $3m in the company the previous year at a valuation above $100m.
Genies had previously raised a total of approximately $11.2m from investors including Foundation Capital, Lerer Hippeau and Trinity Ventures between 2012 and 2016, according to securities filings.
