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Genies Raises $150 Million Series C Led By Silver Lake At A $1 Billion Valuation To Build Avatar Ecosystem Tools For Web3

Apr 12, 2022•over 3 years ago

Amount Raised

$150 Million

Round Type

series c

Los Angeles

Description

Genies, the avatar technology company shaping the leading edge of Web3 culture by empowering individuals to create their own avatar ecosystems, today announced it has raised a $150 million Series C round led by Silver Lake, a global leader in technology investing. The investment values the company at $1 billion and includes participation from existing investors BOND, NEA, and Tamarack Global.

Company Information

Company

Genies

Location

Los Angeles, California, United States

About

Genies is culture's leading avatar technology company empowering humans to create their own avatar ecosystems. Genies provides tools (Genies Avatar Creator OS) that allows users to create their own avatars, avatar wearable fashion lines, avatar worlds, and avatar interactive experiences in web3. The company has 99% celebrity avatar market share through its partnerships with Universal Music Group and Warner Music Group as their "official avatar and digital goods NFT provider" with thousands of Genie creators including Justin Bieber, Migos, Cardi B, and J Balvin. Bringing the power of NFTs and crypto to culture, Genies' avatar ecosystem NFT marketplace "The Warehouse" built with Dapper Labs, allows talent, IP, and creators to design and sell their avatar ecosystem creations (i.e. avatar fashion lines) to the masses. Prior to this announcement, Genies has raised $100M from investors such as BOND, NEA, Breyer Capital, Tull Investment Group, and more. Contact: Mike Paffmann, mikep@virgo-pr.com SOURCE Genies

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech