Transfr VR Raises $12 Million in Series A Funding for Scaling Up VR Training Programs
The Transfr VR product leverages virtual reality to deliver skills training for careers that don’t need four-year degrees such as automotive manufacturing and construction.
The competitive jobs marketplace means that jobseekers have to constantly update their skills, learn new skills and also retain these skills with relative ease. TRANSFRVR’s product provides immersive VR learning for accredited job training programs in the U.S.
Last week, the company announced that it had secured $12 million in Series A funding which will go into scaling up its virtual reality training programs that have been designed to “boost economic mobility” in regions which are adversely affected by skills gaps and unemployment.
The funding round was led by Firework Ventures. Also participating were existing investors such as Imagination Capital, Album VC, the professional golfer Greg Norman, Tampa Bay Lightning owner Jeff Vinik, education executive Stuart Udell as well as Degreed founder David Blake. Firework co-founder Ashley Bittner also joined Transfr’s board.
Transfr has already partnered with the Alabama-based workforce agency AIDT and the Alabama Community College System and uses its curriculum with Oculus Quest headsets to offer skills training for careers that don’t need four-year degrees such as construction, automotive manufacturing and other skilled trades.
In a press statement, the company’s founder and CEO Bharanidharan Rajakumar said that its product simulates on the job experience to “transform skills training into a more engaging and immersive experience” while also bridging the gap between work-based learning and classroom instruction. According to the CEO, Transfr’s product empowers high-potential workers by providing them with access to hands-on and practical training that will help unlock better career prospects and higher wages for them irrespective of their employment history.
The company’s virtual reality learning technology and assessment tools are currently being used by various institutions including schools, workforce agencies, colleges as well as employers across the U.S. including Lockheed Martin.