Digital听training platform Virti听has raised 拢7.2 million in a Series A to further its goal of improving human performance using world-class interactive technology.听听
The Bristol-founded firm 鈥� now headquartered in California 鈥� has also made three key hires. Kurt Kratchman and Mark Ashworth join from Oracle as CRO and CFO/COO respectively, while Michael Hernandez, previously at Nearpod, is the new Head of Customer Success.听
The round was led by听deeptech听investors IQ Capital and joined by Cedars-Sinai Medical Center and a new, UK-based learning technology VC听fund.听
Launched in 2018 by Dr Alexander Young – an NHS trauma听and orthopaedic surgeon – Virti helps organisations optimise learning, training and performance using interactive simulations and AI-powered data analysis.听听
The technology turns traditionally听subjectively听assessed skills听–听such as communication, teamwork and decision-making under pressure听–听into objective and measurable data to improve performance.听听
With the pandemic intensifying the struggle faced听by organisations to find engaging and scalable ways to upskill the workforce, Virti鈥檚 deep learning technology is improving training outcomes by听up to 230% while supporting individuals and organisations in the听global shift towards remote and flexible ways of working.听听
With in-person听training expensive and time-consuming – and traditional teaching methods –听such as lectures听– proven听to be less effective than 鈥榓ctive鈥� learning when it comes to knowledge听retention – Virti鈥檚 technology is helping people acquire knowledge faster and retain new skills for听longer.听听听听
The funding consolidates a pivotal period of growth for the听startup: as demand听for effective remote training solutions accelerated last year, Virti revenues grew 978% and the company鈥檚 workforce doubled in size.听听
鈥淎t Virti, our goal is to maximise human performance by making听experiential learning affordable and accessible for everyone,鈥� said听Dr Alexander Young, CEO and founder.听听
鈥淚n-person training has always been expensive with e-learning often unengaging – and research shows that employees forget upwards of 80% of episodic training.听
鈥淰irti exists to help organisations get the very best out of their people, by improving how teams train, learn and perform using scalable deep learning technology with a focus on soft-skills.听
鈥淲e feel privileged to have both听deep tech experts and world-leading educators on our cap table in this round, to help us achieve our ambition of becoming the world鈥檚 leading developer and distributor of deep learning and digital training solutions.鈥�听
Virti鈥檚 cloud-based, no-code simulation creation suite enables organisations to听build bespoke training modules that analyse user performance using computer-vision AI and Natural Language Processing (NLP).听听
Organisations can access and deploy their simulations using mobile or desktop devices, or VR/AR headsets.听听
The platform captures data听across these three different mediums, applying data-science protocols to analyse, measure and feedback on human performance.听
The technology has been deployed in healthcare settings around the globe, to create听scalable training opportunities and improve patient safety.听听
It has also been deployed by universities, corporates and public sector organisations to teach soft skills, from crisis management to mindfulness.听听
Max听Bautin, Managing Partner at IQ Capital, commented:听鈥淓-learning has seen strong growth over the last 5 years, and COVID-driven shift to remote work has increased demand many times over. Virti鈥檚听deeptech听experiential learning platform is by far the best in the world.听听
鈥淲e are privileged to lead this highly competitive round and partner with Alex听and his super-talented team to deliver on this exceptional growth opportunity.鈥�听
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