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Primary Location Pasadena, California, United States

Financial Status VC-B

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Assembly Line

Virtualitics, a Leader in Artificial Intelligence and Data Exploration, Closes $37 Million Series C Funding Round

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: Virtualitics, Smith Point Capital

Virtualitics, Inc., an artificial intelligence and data exploration company, today announced that it has raised $37 million in a Series C financing round led by Smith Point Capital, LLC with participation from Citi and advisory clients of The Hillman Company, among other investors.

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 their 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.

With this funding round, Virtualitics will continue to invest in growth and innovation to drive even greater expansion, including direct and 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.

Read more at PR Newswire

Breaking the limits of data exploration

📅 Date:

🏢 Organizations: Virtualitics

Intelligent Exploration is the practice of using AI to explore and understand data. Many data scientists focus on throwing a lot of data at a problem and applying supervised ML techniques to sort it out. While this feels efficient, the number of failed AI projects–a number that has only inched up 2% in two years–would say that it’s not. But doing good, thoughtful exploratory analysis with the aid of AI purpose-built to do just that will de-risk projects and lead to more trusted outcomes.

Research has shown that information presented in 3D give consumers a 23% boost in understanding. When you’re trying to work with business stakeholders and get everyone on board with an AI solution that rests on the interplay between a number of different data points, that understanding boost is critical. You need your business and your stakeholders to understand, provide useful context, and ultimately buy-in to your initiative.

Read more at Virtualics Blog

Virtualitics’ integration with Databricks sorts out what’s under the surface of your data lake

📅 Date:

🏢 Organizations: Virtualitics, Databricks

Databricks users can benefit from Virtualitics’ multi-user interface because it can enable hundreds more people across the business to get value from complex datasets, instead of a small team of expert data scientists. Analysts and citizen data scientists can do self-serve data exploration by querying large datasets with the ease of typing in question and AI-guided exploration instead of writing lines of code. Business decision makers get their hands on AI-generated insights that can help them take smart, predictive actions.

Read more at Virtualitics Blog