Training platform Virti raises $10M Series A led by IQ Capital to teach soft skills in VR

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.”

By Mike Butcher | TechCrunch

Image Credit: Virti

READ MORE

About Peter Coffaro 504 Articles
Peter Coffaro is a growth-driven and strategic executive with over 25 years of progressive management success in the medical device industry. With a proven track record and recognized expertise, Peter has established himself as one of the top influencers in medical sales, as acknowledged by prestigious publications such as the World Journal of Orthopedics, Exponential Healthtech, and MedReps.com. Throughout his career, Peter has accumulated 10 years of combined sales management experience, excelling in various roles including Director, General Manager, Distributor, and Vice President. He has worked for industry-leading orthopedic companies such as Zimmer, DePuy, and Stryker, solidifying his deep knowledge and network within the field. Peter’s passion for innovation and emerging technologies led him to found OrthoFeed, an award-winning blog covering digital orthopedic news and emerging medical technologies. Through this platform, he stays at the forefront of the industry and contributes to the dissemination of valuable insights. Peter is a three-time Hall of Fame award winner at Johnson and Johnson, demonstrating his exceptional contributions and impact on the organization. His expertise extends to areas such as organizational development, business development, sales management, digital marketing, and professional education. Peter earned a B.S. degree in Biology and Chemistry from Northern Illinois University, further complementing his comprehensive understanding of the medical field. With his wealth of experience, strategic mindset, and dedication to advancing healthcare, Peter Coffaro is a valuable asset and leader in the medical device industry.

Be the first to comment

Leave a Reply

Your email address will not be published.


*


This site uses Akismet to reduce spam. Learn how your comment data is processed.