AltspaceVR raises $10.3M to grow its virtual reality platform for shared experiences

AltspaceVR, a virtual reality (VR) startup that builds shared spaces for people attending virtual gatherings for things like watching movies, doing yoga, or having meetings, has raised $10.3 million to grow its team and expedite product development.

Founded in 2013 out of Redwood City, California, AltspaceVR software officially opened to everyone back in May, following an extended closed beta period. It’s available on Oculus Rift, 3D televisions, and Mac and PCs (in 2D), and is increasingly being used across a myriad of industries, including gaming and eSports.

“We’re working hard to make AltspaceVR the most natural and fulfilling way to communicate online, and our new capital will help us get there faster,” explains Eric Romo, founder and CEO of AltspaceVR. “We can’t wait to show our community some of the exciting new things we are building.”

Today’s news takes the company’s total funding past the $15 million mark, after it raised $5.4 million across two seed rounds last year. Among the participants in its latest round were China’s Tencent, Dolby Family Ventures, and other returning investors. Interestingly, a new entrant has entered the mix too — Comcast Ventures, the venture capital arm of media giant Comcast.