New funding: Site, a Seattle startup that creates a Sims-esque metaverse platform to help businesses, has raised $5.5 million in seed funding.
The tech. Users can create virtual hubs to be used for business functions or events. Chat and video conferencing are two options for users to communicate with one another. It is a digital headquarters that will replace Slack channels, breakout rooms, and other social media platforms.
Use Cases: Anyone can access the service using a web browser. Spot is currently used by teams from companies such as Google and veterinarian offices. According to the startup, more than 8,000 unique workplaces have been created on the platform. The startup plans to use the funds to develop the product further into an “enterprise-ready” product, said Gordon Hempton, CEO and co-founder of the platform.
Spot is a team created by Hempton and Wes Hather. It currently employs nine people. They were part of the team that founded Seattle unicorn outreach. They also collaborated to launch a startup called Team Apart. This is a YC-backed workplace communication system. Spot will be using some of its funding for the hiring of four employees, Hempton stated.
The competition Many employers are using various tech solutions to manage dispersed workers as hybrid and remote work policies are becoming more popular. Slack and Microsoft Teams are the most popular examples. Discord is another example. Other companies are also exploring virtual reality, including apps like Oculus for business and Microsoft Teams. Microsoft launched Viva Engage in July as an internal social media app to encourage employee engagement.
Spot’s founder, Hempton, said Spot is building an “very ambitious product” in a highly competitive market. He explained that Spot can compete with Slack and Teams as they don’t offer the same virtual office experience.
Investors In April 2021, raised $1.7 Million. Freestyle led the round, which also included participation from Community Access Fund , Liquid2 Ventures , and founder’s co-op. The company didn’t disclose its valuation.