Immersive Learning Platform Strivr Raises $30 Million

By Noah Long • Apr 1, 2020
  • Immersive learning platform company Strivr announced it raised $30 million in Series B funding led by Georgian Partners

Strivr announced that it has raised $30 million in Series B funding led by Georgian Partners. And new investors Franklin Templeton and Prologis Ventures also joined the round.

Enterprises are working to ensure that their employees are fully engaged and prepared to do their jobs. And they are using the power of Immersive Learning for addressing the challenge at scale is being realized through deployments at leading companies like Walmart, Verizon, Fidelity, and FieldCore (a GE Company).

With this round of funding, Strivr plans to further expand adoption of Immersive Learning to help companies elevate workforce engagement and performance.

“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 Strivr founder and CEO Derek Belch. “We are thrilled to leverage this new round of investment led by Georgian Partners to more rapidly accelerate the adoption of Immersive Learning in the enterprise and take the next step in connecting immersive data to real-world performance improvement.”

Strivr also said that they are excited to announce the issuance of a patent by the U.S. Patent and Trademark Office (USPTO) covering the measurement of training data in Virtual Reality. And with this patent, Strivr has developed an algorithm to predict how performance in a virtual environment will map to performance in that same situation or task in real life.

This method automatically clusters learners into groups based on sensing data — which can include head, hand, and eye movements, as well as physiological data. Using this approach, Strivr is setting the path to develop benchmarks for learning and development in VR across a broad range of industries.

“With the rapid increase in large enterprises embracing Immersive Learning to improve performance, we are now able to connect employee learning with business outcomes using completely new types of data,” added Tyson Baber, Partner at Georgian Partners. “We believe in Strivr’s team, mission, and methodology, and are very excited to partner with them as they deliver the next generation of predictive, workforce analytics.”

Baber is joining the board of directors in connection with the funding round.