Wave, the social VR platform and virtual music venue, today announced a $30 million Series B funding round, putting its total funding to $40 million to date.
The funding round was led by Maveron with participation from Griffin Gaming Partners. Additional investors include Japan’s NTT DOCOMO Ventures, Avex, Superfly Ventures, Convivialite Ventures, and Raised in Space. Existing investors include RRE Ventures, Upfront Ventures, The Venture Reality Fund, GFR Fund, and GC Tracker Fund, among others.
Entrepreneurs Scooter Braun, Alex Rodriguez, Superfly co-founder Rick Farman, and Twitch co-founder Kevin Lin also participated in the company’s Series B.
Wave puts a heavy emphasis on virtual dance parties and concerts, which comes part and parcel with immersive visualizations and mind-bending locales that simply wouldn’t be possible outside of VR.
Since its founding in 2016, the platform has hosted over 50 artists including Imogen Heap, REZZ, Jean-Michel Jarre and Lindsey Stirling. Wave’s most recent One Wave concert series included artists such as John Legend, Tinashe, Jauz, and Galantis.
The company says it’s using the funding to “further fuel [its] ability to go beyond traditional live streaming and serve the next generation of concert-goers.”
The company says the investment will also allow it to create more personalized artist avatars, new virtual environments and formats, and interactive experiences, including “in-game activations and social experiences at the nexus of gaming and entertainment.”
Wave is a free app that supports SteamVR headsets via Steam and Oculus Rift via the Oculus Store.
