PMBC Group Client Virtualitics Featured on LA TechWatch.
Data is often uninteresting and a pain to sort through in order to get the actionable insights. While there are data visualization platforms that make this process easier, Virtualitics brings a whole new dimension to data analysis. With their VR and AR software, you can experience your data in the most engaging way possible. With 10 dimensions of visual analysis available, you will appreciate data in ways you have never thought possible.
LA TechWatch chatted with CEO and cofounder Michael Amori about the company and their most recent round of funding.
Who were your investors and how much did you raise?
We recently announced our Series A funding of $4.4 million, led by The Venture Reality Fund (The VR Fund). The investment will be leveraged to expand our team and accelerate the deployment of new functionality within the Virtualitics platform.
Tell us about your product or service.
Virtualitics, Inc. is a data visualization company based in Pasadena, California, that merges artificial intelligence, Big Data and virtual/augmented reality to gain insights from complex data sets. Its collaborative environment for data exploration is suitable for both data scientists and non-expert users, allowing them to uncover multidimensional relationships in data, which may not be discoverable by any other means. The company possesses a pedigree of more than a decade of advanced research at Caltech (California Institute of Technology) and NASA’s Jet Propulsion Laboratory (JPL) and a founding team of pioneers and luminaries in data analysis, data visualization, machine learning and mixed reality applications.
What inspired you to start the company?
I saw what the other cofounders (Ciro Donalek, George Djorgovski and Scott Davidoff) were working on at Caltech – applying immersive visualization to a variety of scientific projects – and thought their work could also be very successful in a business setting.
How is it different?
To our knowledge, there is no one else who provides VR/AR to visualize multi-dimensional data with easy-to-use machine learning tools, Natural Language summaries and a streamlined data analysis process. Adaptable to any VR/AR platform, Virtualitics provides practical methods for translation, rotation, remapping, selection, replotting and toggling while immersed in data. Users can collaborate in a shared virtual environment online, sharing insights and giving guided tours of data.
What market you are targeting and how big is it?
Our focus is on data analytics and visualization, so we are rather market agnostic. We have had early users in finance, the healthcare industries, consumer goods, semi-conductors and scientific research. Even if Virtualitics focused only on the U.S. healthcare and finance industries and obtained a 10 percent market share of customers, it would mean approximately 3,000 customer accounts and 300,000 users (assuming 100 users per customer account). Ultimately, every field with data challenges will need this technology.
What’s your business model?
We are ultimately a B2B player, aimed at business intelligence analysts (e.g. decision support in hospitals, customer insight and analytics in banks). Revenue will come from several sources: licensing fees, maintenance, machine learning consulting and customization…
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