A Bristol-based virtual reality company that uses technology to train workers remotely around the world has raised $10m (£7.2m) in Series A funding.
Virti was founded by former orthopaedic surgeon Dr Alex Young in 2018 - and last year was named on TIME’s list of best new inventions.
The round was led by deep-tech investors IQ Capital and joined by Cedars-Sinai Medical Center and a new, 海角视频-based learning technology venture capital fund.
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The funding will be used to expand the business, the firm said, and research and develop new technologies to improve human performance.
Virti has also hired Kurt Kratchma as chief revenue officer and Mark Ashworth as chief financial officer and chief operating officer. Michael Hernandez, previously at Nearpod, has joined the business as head of customer success.
Chief executive and founder Dr Young said: “We feel privileged to have both deep-tech experts and world-leading educators on our cap table in this round, to help us achieve our ambition of becoming the world’s leading developer and distributor of deep learning and digital training solutions.”
The funding follows a major period of growth for Virti amid rising demand for remote training. Last year, the company's revenues grew 978% and its workforce doubled in size to 30 people.
During the pandemic the company developed a ‘virtual patient’ that is being used by the NHS to train medical staff.
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The tech allows medics and trainees to interact with AI-powered ‘patients’ through a tablet, desktop or VR or AR headset, and role-play life-like, interactive scenarios, minimising the need for in-person training.
The firm's technology is also being used by universities, big businesses and public sector organisations to teach soft skills, from crisis management to mindfulness.
Max Bautin, managing partner at IQ Capital, added: “E-learning has seen strong growth over the last five years, and the Covid-driven shift to remote work has increased demand many times over.
“Virti’s deep-tech experiential learning platform is by far the best in the world. We are privileged to lead this highly competitive round and partner with Alex and his super-talented team to deliver on this exceptional growth opportunity.”
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