Immersive training platform Motive.io raises seed round from N49P
The company said it would use the funds to invest in its engineering, sales, and customer success teams to augment its product for a growing roster of Fortune 500 customers.
Motive.io, a Vancouver-based immersive training platform for enterprise clients, secured seed capital in a round led by Toronto-based venture capital firm N49P. Several Vancouver-based angel investors also participated in the round. The total amount of financing was not disclosed.
Why it matters: The company said it would use the funds to invest in its engineering, sales, and customer success teams to augment its product for a growing roster of Fortune 500 customers.
Details: The Motive.io platform allows clients and partners to build, deploy, and maintain their own interactive 3D training scenarios on any VR headset or mobile device.
The company emerged from the realization that immersive technology (virtual reality and augmented reality) could offer corporate learning teams a new medium to deliver essential skills training. The idea was that this type of training could work especially well for industries that are contemplating training in a distributed fashion or engage in high-risk work that is better trained in the safety of a virtual environment.
“Adult education and corporate training has seen very little innovation since the advent of the internet,” said Ryan Chapman, CEO of Motive.io. “While traditional methods are known to offer a predictable, modest ROI, it’s now a well-established science-fact that virtual reality-style training offers vastly superior learning outcomes, including measurably higher retention, engagement, and satisfaction.”
Chapman said the seed investment serves as validation of his company’s tech and will help them expand.
The money talks: “We're excited about VR as a training modality, and Motive has succeeded in solving the barriers to widespread adoption,” said Alex Norman, partner at N49P. Their ever-growing list of Fortune 500 clients is testament to the fact that VR is the future of training and Motive makes it possible.”
Taking care of business—and people: Accenture recently selected Motive.io as their chosen VR partner which allowed them to assist BC Women & Children’s Hospital in delivering immersive PPE training to its frontline workers. Berkeley Warburton, a managing director at Accenture who led the project, said that Motive.io’s “intuitive platform enabled our learning and development team to create effective training modules quickly, and we are excited to add Motive.io to our global portfolio of capabilities.”
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