AI-powered training platform secures $10m investment to build on "exceptional" growth
A tech firm specialising in AI-powered training has secured multi-million dollar investment.
Digital training platform Virti has raised $10m in a Series A funding round led by deeptech investor IQ Capital, with participation from Cedars-Sinai Medical Center and a new UK-based learning technology VC fund.
Launched in 2018 by NHS trauma and orthopaedic surgeon Dr Alexander Young, Virti helps organisations optimise learning, training and performance using interactive simulations and AI-powered data analysis.
The investment will enable the firm, which grew its revenues by 978 per cent last year, to continue researching and developing new technologies to improve human performance.
Dr Alexander Young, CEO and founder of Virti, commented: “At Virti, our goal is to maximise human performance by making experiential learning affordable and accessible for everyone. In-person training has always been expensive with e-learning often unengaging - and research shows that employees forget upwards of 80 per cent of episodic training.
“Virti 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.
“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.”
Max Bautin, managing partner at IQ Capital, added: “E-learning has seen strong growth over the last five years, and COVID-driven shift to remote work has increased demand many times over.
“Virti’s deeptech 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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