Virtualitics Closes $7 Million Series B Funding
VR, AR, AI data visualization and analytics pioneer Virtualitics closed its Series B funding with 7 Million additional funding. The company now has received total Funding of $11.4 Million to accelerate growth and expand its global operation.
Virtualitics, the breakthrough pioneer in next-generation big data visualization and analytics, today announced the close of a $7 million Series B round of equity funding led by Centricus, a global investment platform, and participated by existing investor the Venture Reality Fund (‘The VR Fund’) and other private investors.
The investment brings Virtualitics’ total funding to in excess of $11 million in support of its mission to make big data more useful and effective for all enterprises. Virtualitics technology has been implemented by several major global Fortune 500 businesses across multiple industry sectors, including consumer goods, healthcare, energy and finance.
Michael Amori, Virtualitics Chief Executive Officer and Co-Founder, commented:
“With this funding, we will enter the next phase of Virtualitics’ development and continue to unlock the potential of big data through the power of virtual reality, augmented reality and artificial intelligence. We’ve started enabling some of the world’s leading companies to harness transformative insights that provide real competitive advantage for their businesses, and we will continue to onboard customers throughout the course of the year.”
Ciro Donalek, CTO and Co-Founder, added: “Turning big and complex data into useful insights requires new ways to analyze and interact with it. We’ve solved for this by coupling AI with immersive environments.
Moreover, business intelligence platforms need to be 3D and collaborative by design in order to help companies gain a deeper level of understanding in the stories being told by the raw data. This is how we’re approaching big data and helping evolve the next generation of data analytics and intelligence platforms.”
Centricus’ participation in Virtualitics’ Series B round complements its endeavors in the technology space. Centricus founders Dalinc Ariburnu and Nizar Al-Bassam led the structuring and fundraising for SoftBank’s US$93 billion global technology investment fund, the Vision Fund, the largest single fund capital raise in the asset management industry to date. They remain on the Board as advisors.
Ariburnu said: “Virtualitics is a fast-growing company with an impressive team, strong technical foundation, industry-changing product and a highly applicable solution platform for a variety of sectors. We’re looking forward to this next stage in the company’s growth journey.”
Virtualitics is an AI-based data analytics and intelligence platform in VR/AR, available also on desktop and mobile. It enables enterprises to easily uncover key actionable insights in their data through a combination of machine learning, immersive visualization, and a collaborative shared virtual environment.
The company also offers Expert Advisory Services in advanced machine learning and customized VR/AR environments for data analytics and intelligence. The company technology is based on a decade of research at Caltech (California Institute of Technology) and NASA’s Jet Propulsion Laboratory (JPL).