Together Labs

Together Labs is the developer of the 3D social metaverse platforms IMVU and WithMe, available on mobile and PC. Transactions on IMVU and WithMe are facilitated by VCoin, which is Together Labs’ digital currency built on the Ethereum blockchain that enables users to buy, gift, hold, earn, and convert in-game earnings to real money. The company wants VCoin to power the wider metaverse and plans to partner with other companies that might use VCoin.

The company claims IMVU is the world’s largest avatar-based social network, enabling users to engage in a variety of activities including creating and customizing avatars, chatting, shopping, socializing in virtual events, sharing experiences, and earning money by selling virtual products. WithMe is a mobile 3D social metaverse platform focused primarily on teenagers between the ages of 13 and 17. It also enables users to engage in various interactive activities such as games, watching YouTube videos, and escape rooms. Around 40% of IMVU users come from the US and the rest are primarily from the UK, France, Canada, and Brazil.

Key customers and partnerships

As of January 2024, the company had over 7 million monthly active users on its platform and with 50,000+ creators.

The company (through its subsidiary MetaJuice) partnered with luxury fashion brand Auroboros (March 2022) to offer new pathways for wearable NFTs to be used across different metaverse platforms. In February 2021, the company partnered with global multi-asset trading platform Uphold to enable IMVU users to convert their VCoins into 27 national currencies that Uphold supports.

Funding and financials

In January 2021, Together Labs raised USD 35 million in funding from Structural Capital, NetEase, and other investors. NetEase, a leading gaming company operating some of the popular massively multiplayer (MMO) games in China, was expected to add value to Together Labs through its game development and engineering capabilities as well as its experience in global market strategy. Together Labs also launched WithMe Entertainment, a new division focused on user-generated content, which developed the WithMe social metaverse platform.