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Data has become an integral part of modern businesses, but many companies still struggle to harness its full potential. With the rise of AI and business analytics tools, the demand for effective data visualization platforms has never been higher. Enter Virtualitics, a startup that’s making waves in the data visualization space.
The Data Dilemma
A 2019 survey by Deloitte highlighted that 67% of executives feel uneasy accessing or using their organization’s data. Furthermore, despite hefty investments in AI and analytics tools, less than one-third of firms consider themselves data-driven. The root of the problem? Inadequate tooling, according to Michael Amori, co-founder of Virtualitics.
Birth of Virtualitics
Virtualitics, founded in 2016, emerged from a collaboration between Caltech and NASA’s Jet Propulsion Lab. The startup focuses on three-dimensional visualizations, aiming to elevate data analysis beyond conventional methods. Their platform uses 3D visualizations, knowledge graphs, and AI to uncover relationships within data sets. This approach not only aids in understanding complex data but also in generating actionable insights.
What Sets Virtualitics Apart?
While many business intelligence tools offer data visualization, Virtualitics stands out in several ways:
- Immersive Experience: Their data visualizations can be viewed in VR and AR.
- User-Friendly: The platform is designed to be simple, powerful, and doesn’t necessitate deep technical knowledge.
- Bias Mitigation: Traditional tools often lead users to approach data with preconceived biases. Virtualitics aims to provide visually intuitive outputs, making it easier to understand findings and anticipate future trends.
Impressive Growth and Future Plans
Virtualitics has witnessed a staggering 370% year-over-year revenue growth, thanks in part to collaborations with government sectors, including the Department of Defense. With a recent $37 million Series C funding round, the startup’s total funding now stands at $67 million. These funds are earmarked for collaborations, customer success initiatives, and expanding the team.
Michael Amori envisions a future where Virtualitics not only continues its successful collaborations with the Department of Defense but also meets the growing demand for AI-driven analysis in the enterprise sector.
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