Allseated raises $15M to expand beyond event visualizations into corporate metaverses

Two-dimensional virtual event platforms such as Hopin, Cvent and Zoom have become staples of virtual events, but these are about consuming content rather than “user activation” for brands. So in the metaverse, brands have turned to platforms like Meta, Sandbox or Decentraland for this kind of interaction. But, again, these are platforms built for consumers, so have limited application in a B2B setting.

Thus it is that platforms like Spatial.io, party.space, Gather, Virbella and Hubs now provide some level of 3D experiences for event activations.

Allseated grew out of event visualizations, aimed at corporations and the B2B space, creating metaverses for physical events, or “digital event twins”, especially using video avatars that work well in a business environment.

It’s now raised $15 million in a new funding round led by Trinity Capital, with Vestech Partners, NYFF, Magma Ventures and WGG also participating. The new funding round will mean it can scale its platform and expand beyond events into corporate use.

Despite the real world being somewhat back to “normal”, the growth of metaverse-style platforms is set to continue, and is being called a $1 trillion market opportunity.

Where Allseated differs from other players is that it creates what it calls a “photorealistic digital twin” over a web browser, which allows a lot of control by brands over user engagement, data, content and levels of inclusion. So while right now it might look more like a vitural tour, in the future it could be something quite different.

In a statement, Yaron Lipshitz, Allseated CEO, said: “Almost every CMO and HR leader we talk to is looking for ways to harness the power of the metaverse, and to drive new engagement paradigms with their customers, employees and partners.”

Allseated says it has grown from 40 employees to 120 worldwide.

Just like IRL, the metaverse requires infrastructure. We don’t have it yet