- WorldViz announced a funding round for an undisclosed amount from Intel Capital, which will be used to advance the development and distribution of their enterprise VR applications.
- The investment also represents a partnership with Intel’s RealSense 3-D technology, creating potential synergies for developers and designers.
From the press release:
SANTA BARBARA, Calif.–(BUSINESS WIRE)–WorldViz, the company that powers virtual reality, today announced that it has raised an undisclosed amount in Series A funding from Intel Capital, Intel’s global investment organization. The investment will be used to advance the development and distribution of WorldViz’s virtual reality applications for the enterprise.When integrated with enterprise systems, Augmented Reality technology can improve workplace performance by increasing access to information in the context of the physical world. According to Juniper Research, mobile AR use in the enterprise will drive annual revenues for software licenses to $2.4 billion in 2019, up from $247 million in 2014.
“Intel’s commitment to WorldViz is a strong statement that the enterprise virtual reality market is poised for rapid expansion and WorldViz is positioned to capture this growth,” said Andy Beall, CEO of WorldViz. “Virtual reality in the enterprise will enable businesses to transform the way they communicate, design and train. With Intel’s long-standing history as a leader in enterprise computing we’re eager to begin this partnership and the next phase of our business growth.”
“Our investment in WorldViz is consistent with Intel’s strategy to advance natural computing experiences, including virtual reality technology,” said Gregory Bryant, vice president of Intel’s Client Computing Group and general manager of Desktop Client Platforms. “Enterprises have barely tapped the potential of virtual reality, and WorldViz has demonstrated both a technical and business vision to drive adoption of virtual reality in professional settings, anchored on Intel Architecture.
“By combining the company’s software and Intel’s RealSense 3-D technology, developers and ODMs will be able to rapidly create virtual reality content and deploy it on a wide range of devices for a fully immersive experience,” Bryant added.
WorldViz’s virtual reality development studio Vizard is a comprehensive collection of tools and services for creating virtual reality applications. The company’s patent-pending interactive visualization and simulation technologies are deployed across more than 1,500 Fortune 500 companies, academic institutions and government agencies. WorldViz’s turnkey Architecture Visualization solutions let AEC professionals virtually walk through their BIM models and experience a stunning sense of their space in 3-D, and Vizard is an easy to learn 3-D development platform complete with everything needed to build interactive and immersive 3-D content.
WorldViz and Intel will work together to develop scientific and industrial virtual reality offerings integrated with Intel computing frameworks, and to provide virtual reality platform technologies for the fast growing pool of developers requiring dedicated tools for immersive content creation.
Founded in 2002, WorldViz has more than a decade’s head start in deploying a hardware-agnostic virtual reality development studio and is the only company that delivers turnkey solutions including software, hardware and services. With its world-class team of virtual reality professionals, WorldViz is able to offer customers a full range of services, including licensing Vizard to smaller enterprises, on-demand design services, or installing and running massive virtual reality systems for simulation, design applications and conferences.
To learn more about WorldViz’s technology please visit www.worldviz.com.
WorldViz is the industry leader in turnkey interactive visualization and simulation solutions for the enterprise. More than 1,500 customers, including leading universities and Fortune 500 companies, have used WorldViz to drive business development and product innovation. From imagining new architectures and planning workflows, to studying social behavior and designing new vehicle prototypes, WorldViz empowers today’s leading enterprises to create immersive virtual worlds and experiences. At the core of WorldViz’s all-inclusive approach to building, rendering and deploying virtual reality applications, is Vizard, the go-to solution for virtual reality software developers looking for scalable and flexible tools for creating immersive virtual reality experiences.
About Intel Capital
Intel Capital, Intel’s global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$11.4 billion in more than 1,400 companies in 57 countries. In that timeframe, 211 portfolio companies have gone public on various exchanges around the world, and 366 were acquired or participated in a merger. In 2014, Intel Capital invested $359 million in 125 investments, including 59 new deals. For more information on what makes Intel Capital one of the world’s most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital.