AI data startup Virtualitics closes $37m Series C funding round

Virtualitics, an artificial intelligence and data exploration company, 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.

Virtualitics is revolutionizing and shaping the artificial intelligence and data exploration industry with its groundbreaking technology, Intelligent Exploration. Virtualitics’ sophisticated 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 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.

Michael Amori, CEO and Co-founder, Virtualitics: “We knew we wanted a strategic relationship with our lead investor, not merely capital. 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.”

Keith Block, CEO and Co-founder, Smith Point Capital: “The advanced AI and machine learning capabilities behind the Intelligent Exploration platform are completely revolutionizing the way organizations leverage their data. Virtualitics enables deeper data access through an intuitive platform, opening up entirely new methods to explore complex datasets. Michael and his team are exactly the kind of visionary leaders building the type of businesses that our firm was set up to invest in and help scale.  Virtualitics is on a rapid growth trajectory and Smith Point will accelerate their financial and market success with our operational expertise and rigor.”

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.

www.virtualitics.com