Virtualitics have been introducing companies to some of the less obvious potential of virtual reality (VR) and augmented reality (AR) by blending immersive technology with analytics and big data. The company has now announced the close of its successful Series B funding round, securing $7 million (USD) in investments.
The new funding round brings the total invested in the company up to over $11 million, following its successful funding injection from the Venture Reality Fund (The VR Fund) early last year. The latest funding round was led by Centricus, with further investments from The VR Fund.
The data analysis technology created by Virtualitics is now in use by several major Fortune 500 companies, covering various industry sectors, including healthcare, energy, finance and consumer goods. The Virtualitics technology uses VR and AR to provide a shared environment where key trends, data points and insights can be uncovered from multiple data streams more easily.
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.”