A leading metaverse company announced a new funding round to take the company to a $1 billion valuation and scale the company’s growth plans.
What Happened: Avatar technology company Genies announced a $150 million Series C funding round led by Silver Lake. The funding round values the company at $1 billion. Existing investors BOND, Nea and Tamarack Global also participated in the funding round.
Genies last funding round was in May 2021. The company had raised $100 million prior to the latest Series C funding round.
Investors in Genies also include NBA Top Shot parent company Dapper Labs and Coinbase Ventures, the investment arm of Coinbase Global Inc (NASDAQ: COIN).
Celebrity investors in the company include Camila Cabello, Paris Hilton and Priyanka Chopra.
The company has partnerships with several celebrities and leading music companies Universal Music Group and Warner Music Group Corp (NASDAQ: WMG). …