Propellant Ventures Makes an Investment Into "Future of Work" Company, Gamerjibe!
Propellant Ventures is excited to announce that we made an investment into Chicago-based Gamerjibe, which has developed cutting edge "future of work" technology that aligns well with our mantra of Bold Investing..Powering the Future. We participated in the Pre-Seed round alongside other notable Chicago early stage investors. With the acceleration of virtual events, Gamerjibe provides a unique one-of-a-kind 3D experience with its virtual events platform. Gamerjibe allows organizers to host engaging meetings and events through an immersive experience typically not found in the physical world. Reasons we liked this opportunity include:
- Early Market Traction - In 2020, Gamerjibe hosted dozens of paid pilot events for customers such as the US Military, Founder Institute, and academic institutions.
- Unique Differentiation - Gamerjibe delivers a unique experience that intersects online gaming and video conferencing in a browser-based immersive 3D environment.
- Market Growth - Over the past year, at least $200 million was invested into virtual event startups such as Hopin, Run The World, Airmeet, and Wonder.
- Market Consolidation - Recently, Hopin acquired event mobile app Topi and video streaming studio StreamYard for $250 million. Hopin has plans to aggressively grow with more acquisitions this coming year so consolidation is starting to happen in this industry.