The company will use the funds to further develop its immersive platform technology and expand globally.
Connecticut-headquartered Infinite Reality yesterday (8 January) announced the closing of a $3bn fundraising round that has valued the company at $12.25bn. It said that the funds will be used to accelerate development of its immersive platform technology, in addition to aiding global expansion.
Founded in 2019, Infinite Reality uses immersive technologies such as extended reality (XR) and artificial intelligence (AI) to offer a suite of services to brands and creators, in an effort to increase monetisation and audience engagement.
The company explained that the new funding round originates from an undisclosed “private investor whose portfolio focuses on global technology and real estate investments”. Past investors in Infinite Reality include T-Mobile Ventures, RSE Ventures and Lux Capital.
Infinite Reality said that the latest investment “recognises the tremendous opportunity in this rapidly expanding global market” (which is projected to reach nearly $1trn by 2030 ) and positions the business to enjoy a large share of this growth.
Welcoming the latest announcement, John Acunto, co-founder and CEO of Infinite Reality, said: “While we are excited that our ability to secure this level of funding validates our mission to build an immersive experience platform that will power the next generation of the web, we are absolutely ecstatic to share this news with our customers: businesses all over the world.”
Acunto added that the fundraising allows the company to continue investing in its customers: “Put simply, we enable them to seamlessly convert their existing 2D website into an immersive space and add the power of AI to optimise sales and ultimately their bottom line.
“In our world, brands and creators aren’t just participants but true architects of their digital destiny, with complete control over their customer relationships and data,” he said.
Following the valuation, Infinite Reality said that it plans to continue to build on initiatives it started working on in 2024, including the signing of a five-year deal with Google Cloud and the acquisition of Sure Valley Ventures portfolio company Landvault at a cost of $450m.
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