In the news release, Allseated Raises $20 Million to Further Fuel its Rapid Growth, issued 29-Aug-2023 by Allseated over PR Newswire, we are advised by the company that the final two paragraphs need to be removed. The complete, corrected release follows:
Allseated Raises $20 Million to Further Fuel its Rapid Growth
SAN FRANCISCO, Aug. 29, 2023 /PRNewswire/ — Allseated has announced $20 million funding – including capital from Level Structured Capital (an affiliate of Level Equity), and existing investors, Magma Ventures, Vestech Partners, NYFF, and WGG, to further scale its space visualization and collaboration platform.
The new funding will enable the fast-scaling business to propel its global expansion and continue to pioneer the international hospitality and event industries with innovative resources and product development.
Alongside the funding, Allseated is spinning out its Meetaverse division. This includes a brand-new entity with a dedicated mission: to pioneer immersive experiences, such as virtual events and corporate environments, within an emerging market landscape.
Space, time, and flow
The global event industries have been completely transformed by the pandemic and the rise of remote communication and working with prospects, clients and partners. This includes the strategies employed by venues for selling and promoting their spaces. While “static” digital twins are a de facto standard in real estate, their use in hospitality and events require significantly more value to support the needs of venues and event planners. Allseated’s virtual space and event planning technology is built upon real-time data analysis, predictive insights, and advanced simulations. Users can eliminate guesswork and usher in a new era of precision, innovation, accessibility, design, analysis, and collaboration with multiple stakeholders, all in one platform.
Allseated pioneered the transformation of digital spaces into collaborative working environments, providing real-time capabilities to bring a first-of-its-kind solution to the hospitality industry. Allseated provides an immersive virtual space that extends beyond the boundaries of its three-dimensional coordinates, creating an experience that encapsulates space, time, and dynamic flows to immerse users and customers in a rich 3D experience.
“Allseated has always been about bringing cutting-edge innovation to the hospitality market, enabling our customers to be more effective and close a lot more business, faster. The new funding will help us to continue expanding our product line from floor planning to a full collaborative space visualization platform. It will enable us to continue to grow rapidly and partner with some of the best brands in hospitality, supercharging and differentiating their business.” Yaron Lipshitz, Allseated CEO, said.
San Francisco based Nfluence Partners served as financial advisor and Fenwick and West as Legal counsel.
Allseated is an innovative, award-winning company, leading space visualization and collaboration through immersive experiences. With 3D visualization, floor plan design tools, and virtual tours through digital twins, Allseated transforms the hospitality industry, leveraging innovation and outstanding customer service to help clients grow their businesses. Allseated offers various collaborative tools for showcasing and selling venues, designing detailed floor plans to scale, and providing comprehensive analytics. The Allseated experience simultaneously increases sales and marketing opportunities and improves operational efficiency.