$37m Funding for Data Viz Firm Virtualitics

In Pasadena, California, AI and data exploration company Virtualitics Inc. has raised $37m in a Series C financing round, for continued expansion including development of further machine learning and data analytics capabilities, and new self-serve options for non-specialist working with complex data.

Virtualitics promises out-of-the-box AI capabilities giving access to advanced analytics for 'more people and organizations', discovering patterns in multi-dimensional data and creating 'rich 3D visuals' and immersive experiences to guide decisions - the latter include VR and AR capabilities facilitating collaborative working. The firm's patented tech is based on more than ten years of research at the California Institute of Technology.

The new round follows an investment from Citi in May this year and was led by Smith Point Capital, LLC with participation from Citi and advisory clients of The Hillman Company, among others. It comes following 'rapid' growth in both public sector and commercial clients, notably in the Department of Defense and across financial services and CPG markets. Under the guidance of CTO and co-founder Dr. Ciro Donalek, the firm has also recently achieved patent updates covering a proprietary 3D network graph data viz algorithm based on tabular data, and a native 3D data visualization which it says 'redefines the way data is perceived and analyzed'.

CEO and co-founder Michael Amori (pictured) comments: 'We knew we wanted a strategic relationship with our lead investor, not merely capital. Smith Point's operational expertise in enterprise software has been - and will continue to be - invaluable as we accelerate growth and innovation. This additional funding and strategic guidance will enable Virtualitics to realize our vision to empower organizations to solve complex, mission-critical problems with artificial intelligence, data exploration and prescriptive business workflows'.

Web site: www.virtualitics.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.