IMVU is an avatar-focused virtual social network that lets users create virtual rooms and interact using custom avatars. The platform supports user-generated products and has been described by some as a dating platform. IMVU has launched Vcoin, a service that lets users buy, gift, earn and convert a digital asset from the IMVU platform into fiat, and is developing a new product called WithMe. The company was reorganized under a new parent, Together Labs, which will oversee IMVU, Vcoin and other virtual services. In 2020 IMVU recorded over 7 million monthly active users, 400,000 products created per month, and a footprint in more than 140 countries. IMVU has raised over $77 million from five rounds and recently secured new capital to fund further product development. IMVU operates a 3D chat virtual world that lets users create and customize avatars with clothes, accessories, pets and scenes. The service monetizes primarily through the sale of virtual currency and virtual goods. The company reports 30 million registered users and generates over $1 million in revenue per month, with 90% of revenue from virtual goods such as clothing, room decorations, and hairstyles. IMVU says it will use new funding to simplify and improve its user interface and to enhance user benefits and features. Based in downtown Palo Alto, the company emphasizes rapid development and testing and has a team with deep experience in games and virtual worlds. Its business model focuses on product monetization rather than relying on advertising.

Total raised

$45M

Funding rounds

2

Latest round

Equity

Latest activity

Jan 2021