In Virtual Reality News
September 30, 2022 – HTX Labs, developer of the EMPACT Immersive Learning Platform, has this week announced that it has raised its first outside capital, receiving USD $3.2 million from Cypress Growth Capital.
HTX Labs states that its mission is to help to accelerate the future of learning by designing, and developing the EMPACT platform to modernize training, scale talent development, and build resilience and readiness across the Department of Defense and commercial Enterprises.
The EMPACT software platform enables organizations to create, deploy, measure, and sustain secure and centralized immersive training programs, all within engaging, fully interactive virtual environments. The capabilities that the EMPACT platform provides allow users to deliver critical training to the point of need, allowing students to train anytime, anywhere, and on any device, at scale, according to the company.
HTX’s core value proposition is to provide the necessary digital infrastructure for workplaces to develop and sustain their own immersive learning programs through end-to-end XR solution modules, including advanced virtual models and simulations, low/no-code content creation tools, seamless integration with existing computing systems, and robust data visualization and analytics capture. EMPACT provides for deployment at scale with support for tablets, laptops/desktops, standalone virtual reality (VR) headsets, and full room scale VR installations.
“We have been looking to secure outside capital to accelerate the growth of our EMPACT platform and customer base but we hadn’t found the right partner who provided an investment vehicle that matched our needs“, stated Scott Schneider, CEO & Co-Founder, HTX Labs. “Cypress has a decade-long track record of success in helping emerging software and services companies achieve scale. It is clear that the team’s collective entrepreneurial and operating experience will be of tremendous benefit to us as we focus on expanding our customer base in a very intentional way.”
HTX plans to deploy the capital with a focus on growth and scale. This includes expansion of the company’s revenue team, in order to expand its current footprint within the US Department of Defense. The company also plans to identify expansion opportunities into key commercial markets, such as heavy industry, manufacturing, and higher education. Additionally, the capital will be used to prepare for increased customer adoption, ensuring that both EMPACT software and accompanying support teams are prepared to meet the anticipated demand.
Expansion of the EMPACT partner and development network is a further objective for the company, which will put a focus on driving the adoption of EMPACT’s Developer (low-code) and Studio (no-code) immersive content authoring tools in order to further accelerate the creation of interactive virtual learning environments and immersive training courseware.
“Scott and his team have built an exceptional business that is poised for dramatic growth,” said Cypress Partner Pat McCaffrey. “HTX Labs’ modern, immersive training solution provides clients with a force multiplier for modernizing training and an unmatched ROI.”
For more information on HTX Labs and its immersive learning platform, please visit the company’s website.
Image credit: HTX Labs
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About the author
Sam is the Founder and Managing Editor of Auganix. With a background in research and report writing, he has been covering XR industry news for the past seven years.