Interplay raises $18 million for enterprise-focused VR training solutions

Interplay, an Austin, Texas-based startup developing a 3D and virtual reality platform for trade workers, today announced that it raised $18 million. The company says it’ll use the proceeds to move into new markets and further develop its existing products.

According to an ABI Research report, before the pandemic, the virtual reality market was forecasted to grow at a 45.7% compound annual rate, surpassing $24.5 billion in revenue by 2024. But even amid the health crisis, virtual reality is booming. A PricewaterhouseCoopers survey predicts that nearly 23.5 million jobs worldwide will use augmented and virtual reality by 2030 for training, work meetings, or customer service.

Founded in 2016 by Doug Donovan and Steve Quirk, Interplay provides online and virtual reality training for a range of skilled trades. Its digital learning simulations span HVAC, plumbing, electrical, facilities maintenance, and solar subject matter, letting customers practice hands-on learning and train to be job-ready.

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