Thursday, January 22, 2009

IMVU Gets $10M

Palo Alto-based IMVU is reporting this morning that it has closed on $10M in a Series D funding round for the 3D virtual world. IMVU said that the round was led by Best Buy Capital, and also included existing investors Menlo Ventures, Allegis Capital, and Bridgescale Partners. IMVU develops a 3D world focused on personalized avatars and social networking. Best Buy's Kuk Yi joins the firm's board as part of the funding. IMVU said the new funds will go towards development of its 3D virtual community. Best Buy Capital is the venture arm of electronics retailer Best Buy. More information »