LONDON, England & EMERALD HILLS, Calif.--(BUSINESS WIRE)--VRtuoso.io, an innovative virtual reality (VR) presentations software platform for businesses, today announced that it has surpassed 1 million users and has delivered over 500,000 hours of virtual training. VRtuoso also confirmed that, following impressive growth and exceeding performance metrics, it has secured follow-on seed funding from UK based Symvan Capital and Italy based Compagnia Bresciana Investimenti S.p.A. (CBI), bringing the total seed funding to over $1 million.
As COVID-19 continues to disrupt business across the globe, VRtuoso is experiencing even greater interest in its VR platform delivery suite with in excess of 30 corporate enterprise clients investing in VR technology to solve remote and on-premise training and collaboration requirements via interactive VR experiences in real-time from anywhere.
At the core of highly secure VRtuoso’s unique platform is the removal of technical barriers, enabling any business to create VR presentations in the workplace or remotely with ease, and with little or no VR experience required. 96% of training courses delivered are completed, and with a user satisfaction rating of 94%*, VRtuoso is among the leaders in the industry.
As new client Leonardo, leaders in Aerospace, Defence and Security, Robert Craighill, Product Manager, explained, “VRtuoso has made it realistic to move beyond written process instructions and realise immersive, interactive, effective learning experiences. VRtuoso has transformed the way we’re thinking about knowledge transfer within our business.”
Frank Furnari, CEO & Founder, VRtuoso, said, “We have experienced significant sales growth over the last year as enterprises need to reduce costs and increase the effectiveness of training. In addition, COVID-19 has disrupted the way in which we all work, which is giving enterprises even more focus to adapt and transform necessary training requirements. VRtuoso platform's usage increased by 32% in 2020 compared to the last 4 months of 2019, and it is fast becoming the obvious go-to alternative to traditional training methods. Our follow-on funding from Symvan Capital and CBI is testament to the progress we have made to date.”
Fotis Karonis, Chief Information & Technology Officer, BT Enterprise & 5G Executive advisor, a VRtuoso partner and client, said: “VRtuoso offers an extremely engaging and immersive experience for any type of corporate training. BT teams with VRtuoso and together we bring Enterprise 5G boundary-less VR collaboration to the next level.”
Nicholas Nicolaides, Investment Director, Symvan Capital, said, “This was the right time for us to provide a follow-on investment. VRtuoso is an example within our portfolio of a business that is solving a real need for its customers, at the same time enabling cost-savings whilst also experiencing growing demand in difficult market conditions.”
Tancredi Pisa Simonini Spada, Managing Director, CBI, added, “VRtuoso has performed above expectations across all the metrics we set and is experiencing rapid growth. A follow on investment makes total sense, even in these most testing of times.”
VRtuoso clients include: American Express, BT, PwC, EE, Pfizer, Leonardo Military Defence, BP, Yoox Net-a-Porter, CNH, Iveco, Barilla, Stansted Airport, CGI, Belfast Harbour, Telecom Italia, LNER, and other enterprises in UK, Italy, France, and the USA.
VRtuoso has applied for 16 world-wide patents on its approach to VR live content creation and real-time guided content consumption.
Note to editor:
* A study by Harvard Business Publishing Corporate Learning found that just 47% of employees were satisfied with their employers’ learning and development experience.
For VRtuoso digital imagery, please download here.
After a significant R&D investment and incubation period, VRtuoso is the first ever VR live content creation and real-time guided content consumption platform for the enterprise market. VRtuoso has received a number of awards and recognition and is a member of the Mayor of London’s International Business Programme. VRtuoso also took part in the Virgin StepUp accelerator as well as the TechItalia accelerator programme in London. VRtuoso has strategic commercial and product partnerships with BT, PwC, WPP, Qualcomm, Qatar Mobile, and Pico Interactive, and it has been deployed by Fortune 500 companies. Headquartered in London, and with offices in Italy and the USA, VRtuoso is funded by Symvan Capital Limited and Compagnia Bresciana Investimenti S.p.A.
About Symvan Capital
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.
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.