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Pasadena Tech Company Raises $37 Million to Boost Its AI and Data Exploration Capabilities

Published on Friday, August 11, 2023 | 6:04 am
Photo courtesy Virtualitics Inc website

Virtualitics, Inc., a Pasadena-based company that specializes in artificial intelligence and data exploration, has secured $37 million in a Series C funding round, the company announced Thursday. 

The round was led by Smith Point Capital, LLC, and joined by Citi, The Hillman Company, and other investors, the company said.

Virtualitics, Inc.’s flagship technology, called Intelligent Exploration, allows data scientists and business users to quickly find key insights from complex datasets. Users can ask questions in natural language, see data relationships in 3D network graphs, and use AI-powered analytics to make informed decisions. 

In a statement, Virtualitics said the new funding will help the company grow and innovate faster in the public sector and key commercial segments. 

“Smith Point’s operational expertise in enterprise software has been – and will continue to be – invaluable as we accelerate growth and innovation,” Michael Amori, CEO and co-founder of Virtualitics, said. “This additional funding and strategic guidance will enable Virtualitics to realize our vision to empower organizations to solve complex, mission-critical problems with artificial intelligence, data exploration and prescriptive business workflows.”

Keith Block, CEO and co-founder of Smith Point Capital, said the team at Virtualitics are “the kind of visionary leaders” that Smith Point Capital was set up to invest in. 

“The advanced AI and machine learning capabilities behind the Intelligent Exploration platform are completely revolutionizing the way organizations leverage their data,” Block added in the statement. 

Virtualitics also announced it has partnered with data cloud company Snowflake, received a strategic investment from Citi to expand its AI platform, and won several awards, such as being on Fast Company’s World’s Most Innovative Companies list, the Artificial Intelligence Excellence Award from Business Intelligence Group, and being on Built In’s Best Places to Work List. 

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