The UK tech sector was left reeling today after Improbable did the near impossible.
The London-based virtual reality firm made headlines after it announced the closure of a whopping $502m Series B from high-profile investors.
Although its exact valuation remains undisclosed, a spokesperson told Tech City News Improbable was now valued at “over $1bn”, making it part of the exclusive UK tech “unicorn” club.
The firm, which joins fellow unicorns Skyscanner and Transferwise, has also been credited with closing the fifth-largest UK VC investment in the past decade.
But how does a London-based firm founded just five years ago go from raising a $22.09m Series A to grabbing over $500m in Series B funding from investors?
Here’s everything we know about Improbable so far....