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SPREE Interactive announces over 250% revenue growth & fundraises for Series A

Following growth, company seeks Series A funding from international, financial and strategic investors

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Spree Interactive

SPREE Interactive, a provider of active free-roam VR experiences, has announced that it has achieved over 250% revenue growth, as it begins fundraising for its Series A. This will enable the company to sustain further global expansion and to build a location-based metaverse for virtual entertainment, education and sports.

This growth has been fuelled by SPREE’s free-roam multiplayer VR attractions, including the SPREE Arena and VR Bumper Car systems (licensed by VR Coaster).

Meeting demand for new revenue streams

“COVID has fueled even more demand from shopping malls which now desperately need alternate revenue streams and innovative ways to utilize the floor space especially with foot traffic fluctuating in various markets,” says Jonathan Nowak Delgado, founder and managing director, SPREE Interactive.    

In order to maintain this growth, the company is now seeking Series A funding from international, financial and strategic investors.

Delgado will speak at Augmented World Expo (AWE) in Santa Clara, California on 9 November, as well as hosting 1:1 investor live product demos at the IAAPA Expo in Orlando from 16 – 19 November. 16th-19th. He will also be present at Websummit in Lisbon from 1 – 4 November, SLUSH Investor day in Helsinki on 30 November and MAPIC in Cannes from 1 – 2 December.

SPREE products offer high throughput and repeat play value, with most attractions achieving more than 3,500 plays per week.

A growing market

SPREE Interactive has also begun to offer all-in-one free-roam custom solutions to the LBE market through its global partnership with Pico Interactive, creator of the Neo 2 headset. This product was named by TIME as one of the best inventions of 2020 and has since been bought by Byte Dance, the creator of TikTok.

The VR gaming market could reach $92.31 billion by 2027, with esports revenues predicted to reach $1.5 billion by 2023.

“Our continued expansion and growth can largely be attributed to our focus on developing unique and entertaining attractions,” says Paul Collimore, commercial director at SPREE Interactive.

“Listening to our clients and delivering solutions which match their needs is key. After a challenging period for our industry, it’s fantastic to see such a bounce back with client sites experiencing record visitor numbers. The increased adoption of interactive immersive VR experiences seems set to continue for the foreseeable future.”  

Earlier this year, SPREE also launched a new VR Bumper Car title called Cyberblaster, leading to a number of international sales agreements including multisite agreements across Saudi Arabia and the GCC region. This month, it has announced the release of a new virtual reality solution, based on the popular online and console game Dynablaster. 

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charlotte coates

Charlotte Coates

Charlotte Coates is blooloop's editor. She is from Brighton, UK and previously worked as a librarian. She has a strong interest in arts, culture and information and graduated from the University of Sussex with a degree in English Literature. Charlotte can usually be found either with her head in a book or planning her next travel adventure.

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