Strivr, a Palo Alto, CA-based provider of Immersive Learning solutions, raised $30m in Series B financing.
The round was led by Georgian Partners, Franklin Templeton and Prologis Ventures, with participation from existing investors GreatPoint Ventures and Alumni Ventures Group. In conjunction with the funding, Strivr added Georgian Partners’ Tyson Baber to its Board of Directors.
The company, has raised $51 million in venture funding to date, intends to use the funds to further expand adoption of its solutions.
Led by Derek Belch, founder and CEO, Strivr provides Immersive Learning solutions which leverage a methodology that combines Virtual Reality (VR) with advanced learning theory, data science and spatial design to transform employee performance. Incubated at Stanford University by VR expert Jeremy Bailenson and Belch, the company quickly expanded its focus from the athlete to the enterprise, now partnering with Fortune 1000 companies including BMW, Fidelity, JetBlue, Verizon and Walmart.
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, the company 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 developing benchmarks for learning and development in VR across a broad range of industries.