Many organizations face significant challenges when it comes to managing data. A 2019 survey by Deloitte revealed that 67% of executives feel uncomfortable accessing or utilizing the data within their companies. In another survey conducted by NewVantage Partners, fewer than one-third of firms identified themselves as data-driven, despite substantial investments in AI and business analytics tools.
Michael Amori, co-founder of Virtualitics, a startup focused on data visualization software, believes that the core issue often lies in the tools available. "Common dashboard tools frequently fail to uncover hidden insights within today’s complex data," Amori shared in an email interview. "As bias, privacy, and ethics gain importance, a deep understanding of data, including its outliers and patterns, enables companies to foster responsible usage."
Founded in 2016 and emerging from partnerships at Caltech and NASA’s Jet Propulsion Lab in Pasadena, Virtualitics was developed after Amori connected with George Djorgovski, a professor of astronomy and data science at Caltech, and Ciro Donalek, a computational scientist at Caltech’s Center for Data-Driven Discovery. "Donalek’s expertise in AI and his work on collaborative virtual spaces aligned perfectly," Amori explained. "This synergy led to Virtualitics focusing on advanced three-dimensional visualizations that transcend traditional data analysis methods."
At its core, Virtualitics employs 3D visualizations, knowledge graphs, and AI to illuminate the relationships within various data points. Users can input a data set or question in plain English—like, “What drives credit card skimming?”—and the platform generates annotations and explanations, which can be integrated into reports and dashboards for organizational sharing.
For instance, a financial services customer could utilize Virtualitics to identify patterns in payment and wire fraud, while a marketing firm might leverage the platform to discover emerging customer demographics and the most effective marketing channels.
While many business intelligence tools, such as Bayes, acquired by Airtable in 2021, and London-based Flourish, owned by Canva, also visualize data, Amori asserts that Virtualitics stands out. The platform supports VR and AR data visualizations and is designed for user-friendliness and empowerment without requiring deep technical skills.
"Traditional data exploration tools struggle to effectively visualize and analyze the complexities inherent in today's data," Amori noted. "Conventional analytics and dashboards often fail to present visually intuitive outputs, making it difficult for users to grasp findings or predict future trends. Additionally, users come to data sets with preconceived biases, exploring data to confirm existing hypotheses."
Although perspectives vary, it's clear that many companies find it difficult to successfully engage employees with the business intelligence solutions they have selected. A 2020 survey by 360Suite indicated that challenges with user adoption and data quality control were the biggest obstacles reported by companies, alongside issues related to cost and security.
"While Virtualitics might be viewed alongside traditional business intelligence solutions, our approach is fundamentally different," Amori explained. "Standard business intelligence tools are designed to deliver straightforward reports, making data more accessible but often at the cost of deeper insights."
Virtualitics’ rapid 370% year-over-year revenue growth attests to its success, largely driven by new clients in the government sector, including the Department of Defense. "Since 2017, we have partnered with defense and national security organizations on a range of projects, from operational readiness to intelligence analysis," Amori noted. Recently, the company enhanced its advisory board with the appointments of retired U.S. Army General John Murray and former U.S. Navy Vice Admiral Timothy White.
Preparing for future growth, Virtualitics has secured $37 million in a Series C funding round led by Smith Point Capital, with participation from Citi and advisory clients of The Hillman Company. This funding raises the startup's total capital to $67 million. Amori emphasized that the new resources will support collaborations, customer success initiatives, and growth, as their workforce currently comprises 76 employees. "Our Series C funding is motivated by two primary factors: our proven success with the Department of Defense on critical projects and a growing demand for AI-driven analysis as data complexity expands. With this funding, we plan to accelerate our roadmap, integrating more AI capabilities, including generative AI, into our platform to meet evolving customer and market demands."
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