Doppelganger Raises $11 Million in New Funding

Doppelganger, Inc., the social entertainment company offering programmed virtual world entertainment for today’s youth, recently announced $11 million in new funding. New investor ComVentures leads the round along with existing backers Draper Fisher Jurvetson, Trident Capital, Draper Richards, KPG Ventures and Greycroft Partners. The company has raised a total of $25 million to date. Michael Rolnick, a partner with ComVentures, will join the Doppelganger Board of Directors.

Doppelganger will use the additional capital to support and accelerate the growth of the business, deliver innovative entertainment and tools to encourage users to participate, create and explore in a controlled online environment, while also looking to expand relationships with strategic media partners and brands. Doppelganger’s business momentum is illustrated by the recent launch of vSide, more than three times larger than The Music Lounge, its previous incarnation. vSide will offer users a level of engagement comparable with that of television coupled with interactivity that goes beyond the Web within a social environment that mirrors the real world.

Said Rolnick, “Doppelganger represents an entirely new entertainment medium focused on the things young consumers care about the most: music, entertainment, and fashion. Combining a breakthrough vision with crisp execution, the company has already built one of the most unique, compelling online experiences available, and ComVentures is pleased to provide support for its rapidly-growing business.”

Doppelganger’s visually stunning, emotionally compelling virtual world has built a strong following among today’s youth by offering participants a high level of engagement, interactivity that extends beyond the Web, and a social environment that mirrors the real world. In virtual city neighborhoods bustling with public clubs, hotspots, and stores flanked by personal apartments and studios, members can connect with their favorite artists, celebrities, and brands, discover new tastes, and become a part of the action. Entertainment includes an interactive, collaborative “murder mystery” experience through a partnership with eDoc Laundry and a thriving underground music scene, joined most recently by Downtown Records (home of Gnarls Barkley, Kevin Michael and the Cold War Kids). Customized avatars, mood selection, dance, and in-world fashion offer rich opportunities for self-expression and members can pursue careers, stage events, build social status, and create communities that blur the distinction between real and virtual worlds.

For marketers, Doppelganger provides innovative new ways to connect with young consumers in a controlled environment that’s safe for both brands and users, and architected for cross-world communication and promotion. Fashion and shopping revolve around retail spaces with foot traffic similar and purchase patterns to that of a real-world city. The world’s professionally designed districts provide ideal locations for the promotion of partner content and products, which now encompass an expanded range of new stores and clothing including the newly opened StarStyle boutique.

Said Tim Stevens, CEO of Doppelganger, “We appreciate the support we’ve received from our investors, and we’re happy to welcome Michael Rolnick to our Board of Directors. The passionate following we’ve already inspired among young consumers and trend setters has more than validated our vision for Doppelganger. Now, with additional capital at hand as well as today’s release of a new version of our virtual world, we will continue to pioneer the next generation of social entertainment.”

Doppelganger, Inc. is a social entertainment company offering virtual world experiences for today’s youth around music, fashion and entertainment. Doppelganger creates an immersive and connected virtual environment that reflects and amplifies the youth demographics’ real-world interests: music, pop culture, fashion, celebrities, self-expression, community, and social networking. Doppelganger makes it possible for media partners and brands to connect with this influential demographic in cool, interesting new ways through a vibrantly created, expertly targeted social entertainment world.

Doppelganger is a privately-held company based in San Francisco.

For more information, please visit www.doppelganger.com