Improbable has announced revenue growth of over two times versus 2022 to £78 million.

Delivering the news at its recent ‘Innovation Day’, the metaverse infrastructure developer said it had completed a strategic transformation and now views itself as a venture builder, creating new ventures based upon its own technology.

The company has reorganised and now has three primary areas of activities: metaverse technology development; metaverse and metaversal experiences development; and metaverse venture building, supported by an experimentation arm named Improbable Labs.

Improbable chief executive Herman Narula said the news showcases how far the company has come and validates its metaverse focus.

“Opportunities abound in sports, entertainment and music,” he said. “Our proprietary technology is able to take fan engagement and experiences to a new level and we gather ever more users excited by new experiences happening in the metaverse.”

Improbable chief financial officer Dan Odell added the company had "matured significantly" over the past two years.

“The focus is now on industrialising what we are doing by being involved in more events with more people where there is scope to drive and monetise engagement levels,” explained Odell.

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