Qwaq Inc.
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Qwaq Inc. - overview
Location
Palo Alto, CA, US
Primary Industry
Software
About
Qwaq Inc. specializes in creating immersive 3D collaboration solutions that enhance teamwork and productivity for distributed teams through its flagship platform, Virtend™. Qwaq Inc. develops advanced 3D virtual collaboration tools aimed at improving remote work.
Founded by Jud Friedman, the company is headquartered in Palo Alto, US. In October 2007, Qwaq raised USD 3. 66 mn in Series B financing from Alloy Ventures, Storm Ventures, and returning investor KPG Ventures. The company has conducted a total of 2 investment deals, with the latest funding round being in 2007, which raised the total amount to USD 3.
66 mn. As of now, Qwaq's valuation stands at USD 13. 70 mn. Qwaq Inc.
offers its flagship product, Virtend™, a 3D virtual collaboration platform designed to enhance productivity and engagement for distributed teams. Virtend™ addresses remote work challenges by allowing users to collaborate in immersive, persistent 3D environments. The platform supports real-time communication through spatial audio and enables users to manipulate 3D models, brainstorm on virtual whiteboards, and share content seamlessly. Target customers for Virtend™ include corporations, educational institutions, and organizations hosting virtual events, thus facilitating international teamwork across geographical boundaries.
The revenue model of Qwaq Inc. is based on subscription services for its Virtend™ platform. Various pricing plans are available for individuals, small teams, and large enterprises, typically on a B2B basis. Organizations subscribe to the platform for monthly or annual access for their employees.
Subscription structures are designed to scale to fit client organization sizes, and the company may form partnerships for tailored solutions for educational institutions or corporate training programs. Qwaq Inc. aims to leverage the funds raised in October 2007 during their Series B financing to support the development of new features for Virtend™ and to expand into additional markets. The company is actively exploring opportunities in the educational sector and corporate training programs to cater to broader user needs.
Specific geographic regions targeted for expansion include Europe and Asia, with plans to establish a presence there by the end of 2008.
Current Investors
Alloy Ventures, Storm Ventures, KPG Ventures
Primary Industry
Software
Sub Industries
Software
Website
www.qwaq.com
Verticals
Virtual Reality (VR)
Company Stage
Series B
Total Amount Raised
Subscriber access only
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