- The new funding values Gemba at $60 million.
- The funding round was led by Parkway Venture Capital.
- Gemba’s exclusive VR offering helps global companies train their workforce through highly immersive learning programs.
Virtual reality enterprise training platform Gemba has secured $18 million in Series A funding at a $60 million valuation in a round led by Parkway Venture Capital.
The new injection of funds will be used to expand Gemba’s growth in the EMEA region as well as its breakthrough in the North American market.
Through its exclusive Virtual Reality-as-a-Service offering in the corporate training space, Gemba helps global companies looking to train a distributed workforce across multiple locations through highly immersive learning programs, factory tour simulations and live training events. The platform’s VR programs are currently only compatible with Meta’s Quest VR headset, but have plans to expand to other VR devices.
Gemba grew out of executive education company The Leadership Network, founded in 2013 by CEO Nathan Robinson and President Victor Lewis. The company now counts among its partners such global giants as Nike, Pfizer, Amazon and many more. Gemba’s platform offers masterclasses on supply chain, business excellence, innovation excellence and more, delivered in virtual reality by industry experts.
“Gemba is poised to change the way global organizations train their people in all critical areas of learning and development – from interactive on-the-job training and safety to leadership training,” said said Gregg Hill, co-founder and general. Partner at Parkway Venture Capital.
Following the funding round, Parkway Venture Capital co-founders and general partners Gregg Hill and Jesse Coors-Blankenship will join Gemba’s board of directors. Parkway’s investment will accelerate the development of the platform, allowing individuals and businesses to access Gemba on a subscription basis.
The platform services are not cheap. Lessons cost up to $7,250 per program while annual corporate subscriptions start at $120,000 for a team of 50 people.
Gemba also offers colocation services, adaptable mixed reality spaces, AI-powered consultants, and a secure, customizable version for enterprise use at scale, enabling global enterprises to empower the workforce global access to training, inspiration, coaching and events from anywhere.
Virtual reality and the metaverse have had their ups and downs over the past year. Meta’s Reality Labs suffered a loss of $3.7 billion in the third quarter of 2022, while Microsoft made headlines this week by laying off several of its VR and XR teams and ending its social virtual reality platform , Altspace. However, Microsoft’s remaining VR team will be working on the Mesh for Microsoft Teams mixed reality overlay, which will bring Office 365 apps to Meta’s Horizon Worlds.
While social VR has yet to pick up the pace, it looks like enterprise VR is promising as a use case as investors pour capital into it in Gemba’s case, while Microsoft is focused on developing its virtual reality platform for businesses.
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