VR sports training company STRIVR Labs announced a $5 million investment led by Signia Venture Partners, with participation from BMW i Ventures and Advancit Capital. The company will use the funds to adapt its VR learning platform types of industries and organizations.
STRIVR’s enterprise-focused product uses VR and AR as a performance training platform. So far, it’s been used mostly in major USA sports leagues, like the NFL and NBA. The company decided to apply its platform to the sports industry first, due to the rapid pace of sports and need for the most effective training.
Derek Belch, Co-founder and CEO of STRIVR said, “Sports was a great entry for us due to lack of time to get meaningful reps, necessity to speed up the learning curve, and the constant pursuit of the slightest edge.” He outlined the companies plan to branch out from sports, in saying, “There’s a need to accelerate learning across different types of organizations, and companies, just like sports teams, are always seeking a competitive advantage. We’re excited to take our learnings from sports and adapt our platform to retail, automotive, manufacturing, hospitality, public service, healthcare and more.”