Virtualitics has acquired seven new customers across the Department of Defense and increased customer acquisition in the Financial Services and CPG markets.
Heaptalk, Jakarta — Artificial intelligence (AI) and data exploration startup, Virtualitics has secured a Series C funding worth US$37 million led by Smith Point Capital. This AI startup has also gained another investor’s support, namely The Hillman Company.
With this new funding round, Virtualitics will continue to invest in growth and innovation to drive even more significant expansion, including enhancing its ecosystem and AI platform by adding more machine learning and data analytics capabilities, as well as a self-serve prescriptive workflow to simplify customers to analyze and understand complex data.
This AI-based startup revolutionizes and shapes the AI 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 highly complex datasets, uncover critical insights, and generate multi-dimensional network graph visualizations.
The CEO and Co-Founder of Smith Point Capital, Keith Block, affirmed that the advanced AI and machine learning capabilities behind the intelligent Exploration platform are completely revolutionizing how organizations leverage their data.
“This startup enables deeper data access through an intuitive platform, opening up new methods for exploring complex datasets. Michael and his team are the visionary leaders building the type of businesses our firm was set up to invest in and help scale. Virtualitics is on a rapid growth trajectory, and Smith Point will accelerate its financial and market success with our operational expertise and rigor.” added Keith.
The new investment comes at a time of rapid growth and accelerating momentum for Virtualitics, including a significant increase in its public sector and critical commercial segments. Bolstering their momentum over the last 12 months, this AI startup has acquired seven new customers across the Department of Defense and increased customer acquisition in the Financial Services and CPG markets.
The milestone of Virtualitics
The funding announcement comes on the heels of several recent key milestone achievements for the company, including:
- New partnerships with Data cloud company Snowflake teams up with Virtualitics to place the power of intelligent exploration into the hands of their joint customers, allowing them to use AI to identify hidden connections in their data and explore insights in immersive, rich 3D visuals directly from Snowflake’s single, integrated platform.
- Strategic investment from Citi in May 2023 to accelerate the AI platform and augment more out-of-the-box machine learning and data analytics capabilities for exploring and analyzing financial data.
- Award-winning AI from a Business Intelligence Group in the Artificial Intelligence Excellence Award.
- Virtualitics was also named one of the best startups based in Los Angeles to work for on Built In’s 2023 Best Places to Work List and one of three companies called to Gartner’s 2022 Cool Vendor in Analytics and Data Science report.
- Patented technology. The company has recently achieved two significant patent updates. The first patent covers a proprietary 3D network graph algorithm that derives groundbreaking visualizations from tabular data. The second patent focuses on native 3D data visualization, redefining how data is perceived and analyzed.
