Total amount raised
$76 Millions
Latest funding date
11/1/2021
Location
Gather has successfully raised funding through multiple rounds, with notable investors including Y Combinator Continuity Fund and Next Play Ventures. The platform offers virtual spaces for various events, enhancing remote interactions.
Keep reading to explore the intricacies of Gather's fundraising journey and the investors backing this innovative platform.
What Is Gather?
Gather, founded in 2020, is a platform designed to enhance virtual interactions by creating immersive virtual spaces. Based in San Bruno, California, the company aims to bring the best of in-person collaboration to distributed teams.
The platform was co-founded by Alex Chen, Kumail Jaffer, Nathan Foss, and Phillip Wang. Gather helps people connect for various purposes, from weddings to workdays, making remote interactions more human.
With a team of 51-100 employees, Gather continues to innovate in the realm of virtual communication, offering features like multiple screen sharing and Slack integration.
How Much Funding Has Gather Raised?
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: August 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of the platform and build initial features.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: November 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: $26M
- Date: March 2021
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and business reach.
- Series B
- Amount Raised: $50M
- Date: November 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and enhance virtual interaction capabilities.
Total Amount Raised: $76M. Current Valuation: Not publicly disclosed.
Key Investors
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm that has been investing in early-stage companies since 1972. They are known for backing some of the most successful tech companies in the world.
- Investment Focus Areas: Technology, healthcare, consumer, financial services.
- Notable Investments: Apple, Google, Oracle.
- Index Ventures
- Details: Index Ventures is a global venture capital firm that supports entrepreneurs in the technology and life sciences sectors. They have offices in London, San Francisco, and Geneva.
- Investment Focus Areas: Technology, e-commerce, fintech, life sciences.
- Notable Investments: Dropbox, Etsy, Farfetch.
- YC Continuity
- Details: YC Continuity is an investment fund that supports Y Combinator graduates as they scale their businesses. The fund focuses on later-stage investments.
- Investment Focus Areas: Companies that have graduated from Y Combinator, across various sectors.
- Notable Investments: Airbnb, Stripe, DoorDash.
- Jeff Weiner
- Details: Jeff Weiner is the former CEO of LinkedIn and a well-known angel investor. He focuses on technology and social impact investments.
- Investment Focus Areas: Technology, social impact.
- Notable Investments: LinkedIn, Everfi.
- Dylan Field
- Details: Dylan Field is the co-founder and CEO of Figma, a collaborative interface design tool. He is also an active angel investor in the tech industry.
- Investment Focus Areas: Technology, design.
- Notable Investments: Figma.
What's Next for Gather?
Gather's future looks promising as it continues to expand its operations and business reach. With the increasing demand for virtual gathering spaces, the platform is well-positioned to host a variety of events, from corporate meetings to social gatherings. The $26 million Series A funding underscores the significant growth potential and market opportunity available to the company.
As Gather scales, future fundraising opportunities are likely, given the successful Series A round. However, the company will need to navigate challenges such as competition from other virtual event platforms and ensuring a seamless user experience. By enhancing its features and expanding its client base, Gather can solidify its position in the market.
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