Zero Latency is an Australian developer and operator of free-roam, warehouse-scale virtual reality entertainment experiences. Founded in 2012 in Melbourne by Tim Ruse, Scott Vandonkelaar, and Kyel Smith, the company builds proprietary multiplayer VR systems that let untethered players move through large physical arenas while wearing wireless headsets and tracked equipment. Zero Latency licenses its platform to franchise partners worldwide and develops first-party game titles. As of 2024-2025, the company operates 150+ venues across roughly 30 countries, making it one of the largest location-based VR networks globally. Zero Latency was acquired by Australian private equity firm Advent Partners in August 2021, which took a majority stake alongside founders, management, and existing investor Carthona Capital.
ZeroLatency has been acquired
This company is no longer available on our private secondary market.
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
2012
Employees
51–200
Total Funding
$6.59M
4 rounds
Latest Valuation
$0.09B
2021
Total raised $6.59M across 4 rounds
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Last updated 06-25-2026
Latest Round
Type
Buyout / Recap (Advent Partners)
Date
2021
Amount
—
Valuation
—
Lead Investors
| Date | Round | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| 2021 | Buyout / Recap (Advent Partners) | — | — | Advent Partners |
| December 4, 2016 | Series A | $5.6M | — | Carthona Capital |
| 2014 | Seed | $900K | — | Carthona Capital |
Tim Ruse
Co-Founder & CEO
Scott Vandonkelaar
Co-Founder & CTO
Kyel Smith
Co-Founder & COO
Dean Dorrell
Chairman
Competitor list is illustrative and may be incomplete, stale, or erroneous.
Sandbox VR
Hong Kong / US-based operator of premium location-based free-roam VR venues; direct competitor in multiplayer warehouse-scale VR entertainment.
The VOID
US-based location-based VR experience operator known for IP-driven immersive attractions (Star Wars, Ghostbusters); ceased operations in 2020 but historically a key competitor.
Dreamscape Immersive
Los Angeles-based location-based VR entertainment company offering free-roam, motion-tracked group experiences in retail and theme-park venues.
Hologate
Munich-based provider of arena-scale VR multiplayer attractions widely deployed in family entertainment centers and arcades.
VR Studios (VRsenal / VR Park)
Provider of free-roam and multiplayer VR attractions for location-based entertainment operators and theme parks.
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