As the pandemic took hold, training staff had to “go virtual.” Typically, that would have meant falling back on existing corporate training solutions, which we all know and “love.” Could there be another way?
In 2018, trauma surgeon Dr. Alex Young took the training required for high-stress scenarios like surgery and applied it to a virtual reality environment, ending up with, he says, a radical and effective approach to training.
His digital training platform Virti has now raised $10 million in a Series A round led by IQ Capital, which was joined by Cedars-Sinai Medical Center and a new, U.K.-based learning technology VC fund, Descenture Capital. In additional news, Kurt Kratchman and Mark Ashworth join Virti from Oracle as CRO and CFO/COO respectively.
Founded in Bristol, U.K., the Virti platform works across mobile or desktop devices, or VR/AR headsets and captures data across all three to analyze, measure and give feedback on employee performance, turning a lot of subjectively assessed skills into more objective and measurable data. It’s even managed to have been named one of TIME’s Best Inventions of 2020.
Virti claims its deep learning technology is improving training outcomes by up to 230% and the startups says it has increased revenues by 978%. It also has a cloud-based, no-code simulation creation suite allowing organizations to build their own bespoke training modules.
Dr. Alexander Young, CEO and founder of Virti, commented: “At Virti, our goal is to maximize 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% of episodic training.”
Image Credit: Virti