March 30, 2020 — PALO ALTO, Calif. — Strivr, the leading provider of Immersive Learning solutions, today announced it has raised $30 million in Series B financing led by Georgian Partners. Franklin Templeton and Prologis Ventures joined the round as new investors, with participation from existing investors, including GreatPoint Ventures and Alumni Ventures Group.
In today’s rapidly evolving macroeconomic climate, enterprises must ensure employees are fully engaged and well-prepared to do their jobs. The power of Immersive Learning to address this challenge at scale is being realized through deployments at leading companies, including Walmart, Verizon, Fidelity and FieldCore (a GE Company). With this new funding, Strivr looks 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 Derek Belch, founder and CEO of Strivr. “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 announced today the issuance of a patent by the U.S. Patent and Trademark Office (USPTO) covering the measurement of training data in Virtual reality. 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. With 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,” said 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.”
With this financing round, Strivr has raised $51 million in venture funding to date, and also added Georgian Partners’ Tyson Baber to the company’s Board of Directors.
About Georgian Partners
Georgian Partners is a thesis-driven growth equity firm investing in SaaS-based business software companies exploiting applied artificial intelligence, security first and conversational business. Founded by successful entrepreneurs and technology executives, Georgian Partners leverages our global software expertise to be able to directly impact the success of companies.
Strivr is the leader in Immersive Learning, a groundbreaking methodology that combines Virtual Reality (VR) with advanced learning theory, data science and spatial design to transform employee performance. Incubated at Stanford University by world-renowned VR expert Jeremy Bailenson and CEO Derek Belch, Strivr quickly expanded its focus from the athlete to the enterprise, now partnering with Fortune 1000 companies including BMW, Fidelity, JetBlue, Verizon and Walmart, to elevate performance through immersive experience. For more information, visit www.strivr.com.