Strivr, a US-based virtual training software provider backed by sporting league National Football League (NFL) and carmaker BMW, has raised $16m in a round led by venture capital firm GreatPoint Ventures (GPV).
Founded in 2014, Strivr is developing a virtual reality (VR) software platform that will be used for occupational training simulations to help employees practice on-the-job situations to improve their performance. It is designed to reduce training costs and enhance productivity.
Strivr will use the capital to pursue business growth in the enterprise segment and will add Ray Lane, managing partner at GPV, to its board of directors. The company was incubated in partnership with Stanford University’s Virtual Human Interaction Lab.
NFL reportedly supplied Strivr with an undisclosed amount of funding in June 2017, after Strivr had received $5m in December 2016 from BMW’s corporate venturing unit, BMW iVentures, as well as VC fund Signia Venture Partners and investment firm Advancit Capital.
Strivr also raised $555,000 and $1.5m from undisclosed investors in 2014 and 2015 respectively, according to regulatory filings.