Strivr raises $30M in Series-B funding

Granted patent for measuring real-world effectiveness of VR-based training

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Over the last five years, we have worked tirelessly at Strivr to become the leader in the emerging category of Immersive Learning. Today, we are proud to announced our latest fundraise of $30 million in Series B financing led by Georgian Partners

Franklin Templeton and Prologis Ventures joined the round as new investors, with participation from existing investors, including GreatPoint Ventures and Alumni Ventures Group

Series B financing to fuel the accelerated adoption of Immersive Learning at scale

In today’s rapidly evolving macroeconomic climate, enterprises must ensure employees are fully engaged and well-prepared to do their jobs. The power of Immersive Learning to address this challenge at scale is being realized through deployments at leading companies including Walmart, Verizon, Fidelity, and FieldCore (a GE Company).

With this new funding, Strivr looks to further expand adoption of Immersive Learning to help companies elevate workforce engagement and performance. 

“With more than 1.5 million training sessions conducted in VR and over 22,000 headsets deployed across our customer base, Strivr has developed the world’s only end-to-end software platform for the delivery of immersive solutions to elevate workforce learning and performance,” said Derek Belch, founder and CEO of Strivr.

“We are thrilled to leverage this new round of investment led by Georgian Partners to more rapidly accelerate the adoption of Immersive Learning in the enterprise and take the next step in connecting immersive data to real-world performance improvement.”

Data patent for predicting real-world performance

We are also excited to announce the issuance of a patent by the U.S. Patent and Trademark Office (USPTO) covering the measurement of training data in Virtual Reality. With this patent, Strivr has developed an algorithm ​​to predict how performance in a virtual environment will map to performance in that same situation or task in real life.

This method automatically clusters learners into groups based on sensing data, which can include head, hand, and eye movements, as well as physiological data. With this approach, Strivr is setting the path to develop benchmarks for learning and development in VR across a broad range of industries.

“With the rapid increase in large enterprises embracing Immersive Learning to improve performance, we are now able to connect employee learning with business outcomes using completely new types of data,” said Tyson Baber, Partner at Georgian Partners. “We believe in Strivr’s team, mission, and methodology, and are very excited to partner with them as they deliver the next generation of predictive, workforce analytics.”

With the funding, Tyson also joins our Board of Directors.

Learn more in our “AMA” livestream

For more information about the fundraise, data patent, and anything else Immersive Learning, watch our on-demand ‘Ask Me Anything’ session with CEO Derek Belch.

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