Immersed

[Closed for Investment] Immersed, with a valuation of $148 million, is raising funds on Wefunder. The company has developed spatial computing software that uses AR/VR to virtualize the workforce. Immersed’s technology allows users to work together, whiteboard, and pair program even while working remotely. The company is building an AI-trained Curator and a work-focused Visor and is soon expected to get listed on The NASDAQ. Renji Bijoy founded Immersed in 2017. The current crowdfunding campaign has a minimum target of $100,003 and a maximum target of $2 million. The campaign proceeds will be used for hiring and operations.

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Investment Overview

Raised this Round: Raised: $3,313,387

Deal Terms

Total Commitments ($USD)

Platform
Wefunder
Start Date
08/10/2023
Close Date
08/31/2023
Min. Goal
$100,003
Max. Goal
$3,000,000
Min. Investment

$100

Security Type

Equity - Common

Series

Series B

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$5.00

Pre-Money Valuation

$147,000,020

Company & Team

Company

Year Founded
2017
Industry
Business Services, Software, & Applications
Tech Sector
EnterpriseTech
Distribution Model
B2B/B2C
Margin
High
Capital Intensity
Low
Location
Austin, Texas
Business Type
High Growth
Company Website
Visit Website

Team

Employees
26
Prior Founder Exits?
No
Founder Name
Renji Bijoy
Title
CEO and CTO

Financials

as of Fiscal Year 2022
 Revenue
$1,750,000
 Monthly Burn
$496,117
 Runway
5 months

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$323,077

$202,119

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-5,953,404

$-3,945,029

Summary Balance Sheet

FY 2022 FY 2021

Cash

$2,491,953

$6,864,753

Accounts Receivable

$13,569

$461

Total Assets

$3,801,739

$7,009,786

Short-Term Debt

$1,268,592

$113,592

Long-Term Debt

$337,381

$0

Total Liabilities

$1,605,973

$113,592

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$11,281,227
VC Backed?
Yes
Close Date Platform Valuation Total Raised Security Type Status Reg Type
08/31/2023 Wefunder $147,000,020 $3,313,387 Equity - Common Funded RegCF
04/04/2021 Wefunder $60,000,000 $6,270,387 Equity - Preferred Funded RegCF / RegD 506(c)
08/07/2020 Wefunder $10,000,000 $1,070,000 SAFE Funded RegCF
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Growth Charts

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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Immersed on Wefunder 2023
Platform: Wefunder
Security Type: Equity - Common
Valuation: $147,000,020
Price per Share: $5.00

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