Strivr Nabs $16M To Train The Future Workforce In Virtual Reality

Strivr, which is a Menlo Park, CA-based immersive virtual reality (VR) training company, today in a report has announced that they have raised $16m in funding.

The round was led by GreatPoint Ventures (GPV). In conjunction with the funding, GPV Managing Partner Ray Lane also joined Stivr’s Board of Directors. The company as of now has a plans to use the funds to advance expansion into the enterprise market.

The company which is founded and led by Derek Belch, CEO, Strivr transforms the way organizations train and develop their employees, using virtual reality (VR) to simulate real-world, on-the-job scenarios for enhanced learning. Fortune 500 companies and elite sports organizations use the company’s immersive training platform to create some of the most engaging experiences.

Incubated in conjunction with Stanford University’s Virtual Human Interaction Lab, Strivr uses proven research in cognitive science and human behavior to increase engagement, performance and retention.

“In a world rapidly shifting to asset performance and predictive analytics, human capital has been largely ignored with outdated training and development tools,” said Lane. “STRIVR offers companies like Walmart real-world, immersive experiences utilizing VR to place employees into their actual work environments to be trained, affecting their ability to drive both workforce development and retention.”

“This is a critical time at STRIVR and we are beyond-excited about GreatPoint Ventures’ investment,” said Derek Belch, CEO, STRIVR. “Ray and his team bring a wealth of knowledge and experience to help us effectively operate at scale as we expand in the enterprise space – and we're humbled by the belief in our team and our winning approach to helping customers take learning and training to new heights.”

Some of the customers of the company include JetBlue, Fidelity, Tyson Foods and United Rentals.
To support them, the company has now also opened new offices in New York, Seattle, and Nashville, TN in addition to its existing offices which is already has been loacted in Los Angeles and Menlo Park, CA.

You may also like:

Hysolate Secures $18M In Series B Funding