We’re delighted to announce that our recent Series A funding round raised $10m; a huge step forward on our mission to improve human performance around the world.
Led by deeptech investors IQ Capital, this round was joined by Cedars-Sinai Medical Center and a new, UK-based learning technology VC fund.
The funding consolidates a pivotal period of growth at Virti; not only did our revenues grow 978% last year, but our team also doubled in size. Alongside the funding, we recently welcomed three fantastic new colleagues on board: Kurt Kratchman and Mark Ashworth have joined us as CRO and CFO/COO respectively, while Mike Hernandez has joined us as Head of Customer Success.
Why did we raise this money?
We believe that Virti is going to lead this global training revolution, which is why we’ve raised $10 million to continue our rapid scale up in the UK, the US and around the world.
The pandemic has shone a spotlight on what we’ve known all along here at Virti: digital training with innovative technology like AI, VR and AR is the future of how people will learn and train.
The Virti platform is a true end-to-end talent performance system. It can be accessed anywhere, at any time, and it delivers the world-class skill development that top employees really want and value.
Computer vision and natural language processing analyses both solo user performance as well as multiplayer environments to quantify team work. Content added to the platform can itself be analysed, allowing trainers to better predict variability in procedures and training methods.
The platform is designed for the future of corporate training: a data-driven activity, with soft and hard skill performance analysed with algorithms and unique data points captured, helping to predict how people will perform when it matters. Training’s ‘new normal’ will be multiplayer and asynchronous, integrated and interactive. This is how the top talents of the future will be nurtured and retained.
What’s next for Virti?
In the past two years, our technology has been deployed in healthcare settings around the globe, to create scalable training opportunities and improve patient safety. It has also been deployed by universities, corporates and public sector organisations to teach core soft skills, and to help people acquire knowledge faster and retain new skills for longer.
As the hardware and technology continues to improve, so will the data we can collect and use to demonstrate training insights.
This Series A funding will enable us to continue along our current path of exponential international growth, researching and developing new technologies to improve performance for everyone on the planet.
We feel privileged to have both deep tech experts and world-leading educators on our cap table in this funding round. Together, we are going to achieve our ambition of becoming the world’s leading developer and distributor of deep learning and digital training solutions.
Watch Alex’s video explaining “Why we’ve raised $10 million dollars”
Read the TechCrunch article on our Series A funding round