US-based virtual reality gaming platform developer VRChat has raised $80m in a series D round featuring digital media company Gree’s GFR Fund.
The round was led by venture capital firm Anthos Capital and included VC firm Makers Fund. It comes after the company received $10m in a September 2019 series C round backed by GFR Fund, consumer electronics manufacturer HTC, Makers Fund and Brightstone VC.
Founded in 2014, VRChat has built a social virtual reality platform which allows users to create and explore virtual worlds with other users and create custom avatars along with their own worlds, games, hangouts and events.
The platform is available on the Steam and Oculus Rift stores and offers access to hundreds of thousands of worlds and more than 10 million unique avatars.
The funding will contribute to boost VRChat’s expansion by bringing its app to more platforms and expediting the development of a creator economy where members can earn from their own creations.
HTC joined GFR (then known as GVR), Brightstone and Rothenberg Ventures in a $1.2m seed round for the company in 2016 that was followed by a $4m round led by HTC subsidiary HTC Vive and backed by the other seed investors the following year.