The company’s AI-enabled platform generates data insights to make analytics more accessible to users across industries

Scarlett Evans, Assistant Editor, IoT World Today

August 14, 2023

1 Min Read
The platform uses machine learning and AI to generate data insights

Virtualitics, a Californian startup developing AI-enabled data exploration tools, has closed its Series C funding with $37 million.

The round was led by Smith Point Capital with participation from Citi and advisory clients of The Hillman Company, among others. It takes the total capital raised by Virtualitics to $67 million and follows the company's recent acquisition of seven new customers across the Department of Defense.

The startup was established in 2016 as part of a collaboration between Caltech and NASA’s Jet Propulsion Lab to leverage AI to help data scientists better understand and make decisions on data.

Virtualitics’ platform, Intelligent Exploration, generates insights into datasets and displays findings using virtual or augmented reality to allow users to better visualize and understand the results.

The platform uses natural language processing to generate the dashboards, as well as any explanations required, based on a user’s question, making it simple to operate as well as to understand.

According to the company, the latest funding round will be used to progress its growth across markets and enhance its technology by adding more machine learning and data analytics capabilities.

With increasing numbers of assets going online, the data companies generate is growing, and finding a means of streamlining this data to make it accessible and user-friendly is increasingly pressing.

Related:Using Real-Time IoT Data to Create New Customer Value

"The advanced AI and machine learning capabilities behind the Intelligent Exploration platform are completely revolutionizing the way organizations leverage their data," said Keith Block, Smith Point Capital CEO. "Virtualitics enables deeper data access through an intuitive platform, opening up entirely new methods to explore complex datasets."

About the Author(s)

Scarlett Evans

Assistant Editor, IoT World Today

Scarlett Evans is the assistant editor for IoT World Today, with a particular focus on robotics and smart city technologies. Scarlett has previous experience in minerals and resources with Mine Australia, Mine Technology and Power Technology. She joined Informa in April 2022.

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