Mytaverse

About Mytaverse

Mytaverse provides a cloud-based platform for enterprises to create immersive, 3D multiplayer environments. Founded in 2020 by CEO Kenneth Landau and CTO Jaime Lopez, the company emerged from a pivot necessitated by the COVID-19 pandemic. Landau, a serial entrepreneur with a background in civil engineering, an MBA in Finance, and experience at McKinsey & Co., previously co-founded and expanded Mail Boxes Etc. in Latin America and started Comerxia Inc., a cross-border e-commerce technology company. Lopez brought his extensive experience from the live entertainment industry, where he developed the Brash Media Server for artists like Madonna and Tiësto, and later founded LPX Digital, an agency specializing in immersive experiences using technologies like AR, VR, and 3D mapping for major brands. Their combined expertise laid the groundwork for Mytaverse's focus on enterprise solutions.

The company's core business revolves around providing a Metaverse as a Service (MaaS) platform that allows businesses to build and manage their own secure and customizable virtual spaces for a variety of use cases. Clients, which include major brands like PepsiCo, Dassault Aviation, and Zaha Hadid Architects, use the platform for virtual training, employee onboarding, large-scale events, collaborative work environments, and interactive product showrooms. For example, PepsiCo utilized Mytaverse for a virtual store to train its sales team, significantly reducing training time. The business model enables clients to create digital twins of their products and branded, photorealistic 3D settings to engage with customers and partners. Revenue is generated by providing these tailored metaverse solutions, with the company reporting over $1 million in ARR in its first year of full operations.

Mytaverse's platform, built on Unreal Engine and powered by Amazon Web Services, is hardware-agnostic, allowing users to access the virtual environments through a standard web browser on any device without needing special equipment. Key features include multi-user interaction, customizable avatars, AI-powered virtual assistants, and the ability to import 3D assets. This accessibility is a central part of their strategy to make it easy for corporations to enter the metaverse. The company secured $7.6 million in a seed funding round in April 2022, led by Blumberg Capital, to fuel product development and team expansion.