Data Analytics Startup Virtualitics Raises $37M

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.

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"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."