UPDATED 19:15 EDT / AUGUST 10 2023


AI data exploration startup Virtualitics raises $37M for growth and innovation

Artificial intelligence data exploration startup Virtualitics Inc. today announced that it has raised $37 million in new funding to invest toward direct and ecosystem expansion as well as enhancing its AI platform.

Founded in 2016, Virtualitics offers a data exploration platform that uses artificial intelligence and big data to help enterprises and governments make decisions with ready-to-use AI. The company had previously been focused on virtual reality data visualization but, in more recent years, ithas shifted toward broader AI-driven data analytics.

Virtualitics’ main offering is “Intelligent Data Exploration,” which delivers AI capabilities that make advanced analytics possible for more people and organizations. The Virtualitics AI technology automatically discovers hidden patterns in complex, multidimensional data, delivering 3D visuals and immersive experiences that guide more informed decisions.

The Intelligent Exploration platform’s AI technology allows users to make queries in natural language, explore extremely complex datasets, uncover critical insights and generate multidimensional network graph visualizations. The company’s VR and augmented reality capabilities also enable real-time collaboration across multiple users and locations, it said.

Virtualitics says it has seen strong growth in the last 12 months in both its public sector and key commercial segments, counting new customers across the U.S. Department of Defense, the financial service sector and the consumer packaged goods market, though it didn’t provide more specifics.

Smith Point Capital LLC led the Series C round, with Citigroup Inc. and advisory clients of The Hillman Company also participating. Including the new funding, Virtualitics has raised $67.6 million to date, according to data from Crunchbase.

“The advanced AI and machine learning capabilities behind the Intelligent Exploration platform are completely revolutionizing the way organizations leverage their data,” Keith Block, co-founder and chief executive of Smith Point Capital, said in a statement. “Virtualitics enables deeper data access through an intuitive platform, opening up entirely new methods to explore complex datasets.”

Co-founder and CEOMichael Amori added that the additional funding and strategic guidance will enable the company to realize its vision of empowering organizations to solve complex, mission-critical problems with artificial intelligence, data exploration and prescriptive business workflows.

Image: Virtualitics

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