PASADENA, Calif.--(BUSINESS WIRE)--
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).
For more information or to request a demonstration of Virtualitics solutions, please visit www.virtualitics.com.
Virtualitics, Inc. is a data analytics and visualization company based in Pasadena, California, that merges artificial intelligence, virtual reality, and augmented reality with big data to gain intuitive insights from complex data sets. Its collaborative environment links data with natural human pattern recognition, enabling both data scientists and non-expert users to uncover multidimensional relationships in data, extracting actionable knowledge that may not be discoverable by any other means. The company possesses a pedigree of more than a decade of advanced research at Caltech (California Institute of Technology) and NASA's Jet Propulsion Laboratory (JPL), and a founding team of pioneers and luminaries in data analysis, data visualization, machine learning and mixed reality applications, including: Michael Amori, former Deutsche Bank managing director, Harvard MBA and Caltech alumnus; Dr. Ciro Donalek, former computational scientist at Caltech; professor George Djorgovski, the founding director of Caltech's Center for Data-Driven Discovery; and Dr. Scott Davidoff, senior manager of Human-Centered Design at NASA’s JPL.
Centricus is a global investment platform, backed by a select group of sophisticated, global and long-term investors. Using its unique global relationship network, Centricus originates, structures and manages investments across all asset classes, sectors and geographies. The firm works in partnership with its management teams and network of strategic advisors to deliver superior absolute returns, over the long-term.