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Total amount raised
$822M
Latest funding date
2022-10-03
Location
Improbable has successfully raised $520 million over two funding rounds, achieving a valuation of over $1 billion. The company is known for its platform, SpatialOS, which enables the creation of large-scale, persistent virtual worlds for gaming and entertainment.
What Is Improbable?
Improbable, founded by Herman Narula in London, is a pioneering company in the realm of multiplayer experiences and complex simulations. Established to build the future of virtual worlds, Improbable leverages its flagship product, SpatialOS, to create persistent and engaging environments for gaming and entertainment.
With a workforce of 501-1000 employees, the company is at the forefront of metaverse infrastructure and distributed systems. Their technology also extends to solving real-world problems through simulation insights, making them a versatile player in both entertainment and enterprise applications.
Improbable's mission is to enable the creation of large-scale, immersive virtual worlds that mirror the complexity of the real world. Their innovative approach has attracted top investors and led to a valuation exceeding $3 billion as of October 2022.
How Much Funding Has Improbable Raised?
- Seed Round
- Amount Raised: Undisclosed (approx. $2.2M from family loan and angel investors)
- Date: Pre-2015
- Lead Investors: Undisclosed
- Participants: Amadeus Capital Partners, David Rowan, Saul Klein, Hermann Hauser, Alex Asseily, Jaan Tallinn, Taavet Hinrikus
- Motivation Behind the Round: Early-stage capital to develop the Improbable simulation platform.
- Series A Round
- Amount Raised: $20,000,000
- Date: March 2015
- Lead Investors: Andreessen Horowitz
- Participants: Horizons Ventures, Temasek
- Motivation Behind the Round: To support the development of Improbable's platform for creating large-scale simulated worlds.
- Series B Round
- Amount Raised: $502,000,000
- Date: May 2017
- Lead Investors: SoftBank
- Participants: Andreessen Horowitz, Horizons Ventures
- Valuation at Round: $1B+ (estimated)
- Motivation Behind the Round: To enhance the product and expand the ecosystem of developers, aiming to build massive-scale infrastructure.
- Strategic Investment (NetEase)
- Amount Raised: $50,000,000
- Date: July 2018
- Lead Investors: NetEase
- Valuation at Round: $2B (estimated)
- Motivation Behind the Round: Strategic partnership with Chinese gaming giant NetEase to expand into the Asian games market.
- Series C / M² Metaverse Round
- Amount Raised: $150,000,000
- Date: April 2022
- Lead Investors: Andreessen Horowitz, SoftBank Vision Fund 2
- Participants: Mirana, Digital Currency Group, CMT, SIG, Ethereal Ventures
- Motivation Behind the Round: To establish M² (MSquared), a network of interoperable Web3 metaverses powered by Improbable's Morpheus technology.
- Series Unknown Round
- Amount Raised: $100,000,000
- Date: October 2022
- Lead Investors: MultiversX (formerly Elrond)
- Valuation at Round: $3B+ (estimated)
- Motivation Behind the Round: To support growth, accelerate metaverse platform development, and pursue profitability in a challenging macroeconomic environment.
Total Amount Raised: At least $822,000,000 based on disclosed funding. Current Valuation: $3B+ (estimated, as of October 2022).
Key Investors
- SoftBank / SoftBank Vision Fund 2
- Details: SoftBank is a Japanese multinational conglomerate and one of the world's largest technology investors. It led the landmark $502M Series B in 2017 and co-led the 2022 M² round via SoftBank Vision Fund 2.
- Investment Focus Areas: Technology, telecommunications, transportation, metaverse.
- Notable Investments: Uber, WeWork, ARM Holdings.
- Andreessen Horowitz (a16z)
- Details: Andreessen Horowitz is a prominent venture capital firm based in Silicon Valley. It has backed Improbable since the Series A in 2015 and co-led the 2022 M² round.
- Investment Focus Areas: Software, internet, gaming, Web3, biotechnology.
- Notable Investments: Facebook, Airbnb, Slack.
- Horizons Ventures
- Details: Horizons Ventures is a private investment arm focused on disruptive and innovative technology companies. It participated in Improbable's Series A and Series B rounds.
- Investment Focus Areas: Technology, biotechnology, artificial intelligence.
- Notable Investments: Facebook, Spotify, Siri.
- MultiversX (formerly Elrond)
- Details: MultiversX (formerly Elrond) is a blockchain platform focused on Web3 payments, DeFi, and the metaverse. It led Improbable's October 2022 funding round.
- Investment Focus Areas: Blockchain, Web3, metaverse infrastructure.
- Notable Investments: Improbable M² metaverse ecosystem.
- NetEase
- Details: NetEase is one of China's largest internet and gaming companies. It made a $50M strategic investment in Improbable in July 2018 as part of a broader partnership.
- Investment Focus Areas: Gaming, internet, technology.
- Notable Investments: Bungie, Quantic Dream.
What's Next for Improbable?
Improbable stands at the cusp of a transformative era, with opportunities spanning multiple industries. The potential for SpatialOS to revolutionize gaming, transportation, and even urban planning is immense. The $502 million funding round led by SoftBank underscores the vast market potential, positioning Improbable to expand its ecosystem and forge new partnerships.
Future fundraising seems promising, especially with the possibility of tapping into SoftBank's Vision Fund. However, the path ahead is not without challenges. Improbable must navigate fierce competition from established platforms like Google VR and Unreal Engine while continuously innovating to maintain its edge in the rapidly evolving virtual reality landscape.
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