Saturday, 23 Sep 2023

Strivr Secures $30M Series B Financing to Accelerate Adoption of VR Training – Road to VR

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Strivr, the immersive VR training company, announced the successful completion of a $30 million financing round, something the startup says will help it further expand adoption of enterprise-focused immersive learning.

The Series B financing round was led by Georgian Partners, with participation by venture capital firms including Franklin Templeton, Prologis Ventures, GreatPoint Ventures and Alumni Ventures Group. The latest round brings the company’s overall investment to $51 million.

Strivr is focused on building immersive learning software using VR headsets. It’s created VR training programs for the likes of Verizon, jetBlue, Fidelity, GE’s FieldCore, and Walmart, the latter of which was apparently so successful that the big box store expanded the VR learning program to all of its 4,700 nationwide, bringing with it over 17,000 Oculus Go headsets to US-based Walmart stores back in 2018.

Although it now puts a major focus on retail and industrial training, Strivr actually first catered to professional and collegiate sports teams when it was founded in 2015 by former Stanford Cardinal kicker Derek Belch and Jeremy Bailenson, the founding director of Stanford’s Virtual Human interaction Lab.

“With more than 1.5 million training sessions conducted in VR and over 22,000 headsets deployed across our customer base, Strivr has developed the world’s only end-to-end software platform for the delivery of immersive solutions to elevate workforce learning and performance,” said Belch.

As a part of the latest financing round, Strivr takes on its board of directors Tyson Baber, partner at Georgian Partners.

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