San Mateo, CA and London – February 20, 2019 – VRtuoso.io, an innovative virtual reality (VR) presentation platform that enables enterprises to cut training costs and boost sales enablement, today announced that it has secured US$650,000 in seed funding to bolster its research and development operation, and to expand its availability across Europe and North America. Symvan Capital Limited led the funding round with Compagnia Bresciana Investimenti S.p.a.
End-users in any enterprise can use VRtuoso to transform the way they train and develop talent. No experience or technical expertise is required to deliver a VR presentation in a matter of minutes. Users can create, deliver and adapt presentations adding in 360° and two-dimensional content, like video, PowerPoint slides and text. Learning and development teams can guide their audience and control what is viewed on all VR headsets in real time.
VR is well documented to give 100% engagement and over 80% retention in a training environment, with analysts predicting the market will be worth $6.3 Billion by 2022*. However, existing solutions can be both costly and require in-depth technical knowledge to deliver. VRtuoso’s solution addresses both obstacles providing a cost-effective, true out-of-the-box (no internet connectivity required) experience, using a simple drag and drop user interface.
Francesco Furnari, Founder & CEO, VRtuoso, said: “We are delighted to welcome this round of funding as we continue to scale internationally. Enterprises that embrace VR see incredible results with our easy-to-use and cost-effective learning product. As a unique offering within the market, we expect our growth to continue as we build out our sales and marketing footprint.”
Nicholas Nicolaides, Investment Director, Symvan Capital, said, “VRtuoso’s compelling proposition brings VR-based training to the enterprise, tackling their biggest challenges – that of cost and complexity of implementation. As investors we have focussed on the team led by Francesco, the problem they solve, the impact to the customer’s bottom-line, and the opportunity to scale. Given the impressive list of Fortune 500 customers, there is a clear opportunity to tap into customer demand for this exciting product. We proudly welcome VRtuoso and its talented team to our portfolio.”
Tancredi Pisa Simonini Spada, CEO, Compagnia Bresciana Investimenti, said, “The market for VR based enterprise training is set to explode in the next three years. By tackling the major hurdles to adoption with a plug and play solution at a fraction of the cost of other less compelling offerings, VRtuoso has the opportunity to dominate the market.”
About VRtuoso Limited
After a significant R&D investment and incubation period, VRtuoso is making VR-based enterprise learning and marketing reality for all. Headquartered in London and with offices in Italy and the US, VRtuoso has been deployed by Fortune 500 companies.
About Symvan Capital Limited
Symvan Capital is a London-based award-winning EIS & SEIS technology venture capital fund manager. Symvan Capital invests in B2B technology growth companies making a material impact in their industry with the potential to deliver exceptional investment returns.
About Compagnia Bresciana Investimenti S.p.a.
Compagnia Bresciana Investimenti S.p.a. is an Italian-based holding company which has been active since 1982. CBI has a broad portfolio of investments, with interests in the traditional financial and industrial sectors through to emerging and innovative technologies.