Angels shine on virtual world creator Multiverse with $2.4M
Multiverse Network, creator of highly customizable virtual worlds and games, just roped $2.4 million in angel funding to help sustain itself through 2010 (and hopefully the whole of the recession). Its platform, pliable enough to fabricate a digital environment resembling the Titanic for historical education purposes, gives software developers the tools they need to build and launch worlds of their own.
These developers can even monetize their creations (many of them massively multiplayer online games) as long as they give a 10 percent kickback to Multiverse.
The Mountain View, Calif. company has also raised a first round of funding totaling $4.18 million from Sterling Stamos Capital Management. Angels have provided $10.5 million in the past.
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.