Interplay Learning Raises $18 Million in Series B Funding Following 300% Growth on Year-Over-Year Sales
Interplay Learning, the global leader in training essential skilled trade workers to be job-ready, announced today, it completed an $18 Million Series B round of financing. Owl Ventures and S3 Ventures co-led the round, with additional investment from Strada Education Network and The Venture Reality Fund, as well as participation from existing investors SJF Ventures, Sierra Ventures, Holt Ventures, Wild Basin Investments and Shelter Capital Partners. Owl Ventures is the world’s largest venture capital fund in education technology and its Managing Director, Ian Chiu, will join Interplay’s Board of Directors.
Interplay’s customer usage was up 445% in 2020, as the leading provider of online 3D simulation and virtual reality solutions for the HVAC, plumbing, electrical, solar, multi-family maintenance and facilities maintenance workforces. The firm has more than 2,000 customers and 110,000 users nationwide on its next-generation training platform. Additionally, Interplay exceeded 300% year-over-year growth and earned a Gold Best in Business Award in the On the Rise Category from Inc. Magazine in 2020.
“Interplay Learning is setting the standard for fully interactive, lifelike, hands-on simulation learning that can be experienced through VR, mobile and desktop applications,” said Ian Chiu, Managing Director of Owl Ventures. “Thousands of companies are leveraging Interplay to build their own scalable, job-ready workforce faster than ever before. Interplay’s on-demand skilled trades training courses are designed to help the existing 24 million skilled workers, as well as those just entering the workforce, to be field-ready in weeks, not years. We’re excited to be partnering with Interplay as they continue to scale and expand on their market leadership.”
“This new capital enables us to broaden our offering into new markets and accelerate our vision for ‘comersive’ learning, combining immersive learning with human connection,” said Doug Donovan, Founder and CEO of Interplay Learning. “There is a critical shortage of essential skilled workers in the U.S. that is being exacerbated by the accelerating rate of retirement. This growing skilled trades gap is what drives us every day. We’re excited about our growth in 2021; we plan to double our employee headcount and fulfill our mission of better careers, better lives.”
About Interplay Learning
Founded in 2016, Austin, Texas-based Interplay Learning is the leading global provider of online and VR training for the essential skilled trades. The firm develops and delivers scalable, highly effective digital learning simulations for the HVAC, Plumbing, Electrical, Solar, Multi-family Maintenance and Facilities Maintenance workforce. Using comersive learning technology, Interplay Learning allows its customers to practice hands-on learning and train to be job-ready in weeks, not years. The company won the AI Breakthrough Award for Best Use of Virtual Reality for Enterprise Applications, and is an AHR Expo – Innovations Awards 2020 Winner. Interplay Learning is building better training, better careers and better lives for its customers and their employees. Welcome to the next generation of the skilled labor workforce. Visit https://www.interplaylearning.com/ to learn more.
SOURCE Interplay Learning
The post Interplay Learning Raises $18 Million in Series B Funding Following 300% Growth on Year-Over-Year Sales appeared first on Virtual Reality Reporter by VR Reporter
By: VR Reporter
Title: Interplay Learning Raises $18 Million in Series B Funding Following 300% Growth on Year-Over-Year Sales
Sourced From: virtualrealityreporter.com/interplay-learning-raises-18-million-series-b-funding-following-300-growth-year-year-sales/
Published Date: Sun, 28 Feb 2021 08:33:19 +0000