VR Training Startup STRIVR Raises an Additional $16m in Funding

There is an increasing focus on using virtual reality technology for training employees. Major firms are exploring this option already, and more will be added over time. STRIVR, one of the industry’s leading VR training startups, has received $16m in additional funding led by GreatPoint Ventures.

STRIVR Continues to Get Noticed

It is not easy for VR startups to gain any long-term traction these days. That is especially true during this time, as consumers and even corporations are not too convinced this technology is here to stay. GreatPoint Ventures, on the other hand, sees a lot of potential in STRIVR. To date, the startup raised $21m in funding, primarily because of its latest $16m round completed earlier this week.

The startup specializes in employee training through virtual reality. Although their initial venture was very limited in nature, their partnerships as of late do not go by unnoticed. One of their biggest partners is Walmart, a company which seems a lot of potential in training its employees without putting them on the shop floor from day one.

Under the hood, STRIVR primarily relies on interactive 60-degree video to train employees. Not only is this type of content easier to produce and experience, but it is also accessible through cheaper and less powerful VR headsets. This helps cut down on overhead costs for both the startup and their partners. Making VR training more approachable will remain the number one priority.

It appears Walmart is doubling down on its VR training exercise. The company made it clear they will deploy 17,0000 Oculus Go headsets across its nationwide stores to begin training in VR. All of the exercises are provided by STRIVR exclusively, which puts the startup at the center of attention once again. A major breakthrough for the company, as well as the overarching VR industry.

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By JP Buntinx

JP Buntinx is a FinTech, VR, and Bitcoin enthusiast living in Belgium.