Virtualitics, Inc., an artificial intelligence and data exploration company, announced it has raised $37 million in a Series C financing round, empowering the company to invest in growth and innovation to drive even greater expansion.
The funding will go toward ecosystem investments and investments to enhance its AI platform leadership by adding more machine learning and data analytics capabilities as well as self-serve prescriptive workflows to make it easy for customers to analyze and understand complex data and transform their business.
The funding round was led by Smith Point Capital, LLC with participation from Citi and advisory clients of The Hillman Company, among other investors.
According to the company, Virtualitics is revolutionizing and shaping the artificial intelligence and data exploration industry with its groundbreaking technology, Intelligent Exploration.
Virtualitics’ AI-powered analytical capabilities empower data scientists and business users to make informed strategic decisions at an accelerated pace.
The Intelligent Exploration platform’s advanced AI technology allows users to make queries in natural language, explore extremely complex datasets, uncover critical insights, and generate multi-dimensional network graph visualizations. Its patented VR/AR capabilities also enable real-time collaboration across multiple users and locations.
The new investment comes at a time of rapid growth and accelerating momentum for Virtualitics, including significant growth in both its public sector and key commercial segments.
Bolstering its momentum over the last 12 months, Virtualitics has successfully acquired seven new customers across the Department of Defense and increased customer acquisition in the Financial Services and CPG markets.
“We knew we wanted a strategic relationship with our lead investor, not merely capital,” said Michael Amori, CEO and co-founder of Virtualitics. “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.”
For more information about this news, visit www.virtualitics.com.