August 13, 2024 – ArborXR, a leading enterprise-grade extended reality (XR) mobile device management, content management, and content distribution solution for enterprise companies and solutions providers, today announced it has secured $12 million in new funding. The round was led by Mercury Fund and Cortado Ventures, with participation from Impact Venture Capital and Lewis & Clark Ventures. The funding brings the total capital raised by the company to date to over $25 million.
While mass adoption of Extended Reality (XR), which includes immersive technologies like Augmented Reality (AR) and Virtual Reality (VR), has been slow among consumers, it has surged largely under the radar within modern enterprises. Today’s modern organizations often face the challenge of advancing employee development in hybrid office settings, leading to a fundamental shift in the way companies train and upskill their employees from the physical to the virtual environment.
Increasingly, XR technology is disrupting more traditional methods of employee training by providing immersive, real-world experiences at scale that simulate hands-on learning in safe, controlled environments and eliminate between 30-70% in costs associated with these programs. However, organizations that integrate and deploy this cutting-edge technology often face the challenge of effectively managing devices and content while maintaining control of user experience and security.
ArborXR was built to meet these critical needs through a centralized solution that enables enterprises to scale their XR training programs. The company was launched in 2020 by Brad Scoggin, Jordan Williams, and Will Stackable following the founders’ sale of SpringboardVR, a leading provider of VR venue management software and the largest content marketplace for location-based entertainment. After identifying a clear need for a platform designed for XR deployment within enterprises, ArborXR sought to provide a robust, reliable, and scalable solution to effectively manage fleets of XR devices and deliver a seamless VR experience – often during critical phases. Today, ArborXR is leading the enterprise training revolution, empowering major Fortune 500 companies like Bank of America, Pfizer, Delta, Walmart, and UPS to transform their employee development programs through cutting-edge XR device management solutions.
“Global enterprises and institutions recognize the potential of XR to transform businesses and make way for significant cost savings, operational efficiency, and better training tools,” said Brad Scoggin, Co-Founder and CEO of ArborXR. “Since its founding, ArborXR has differentiated itself as a trusted partner for enterprises looking to deploy, scale, and maximize XR within their operations. We are continuing to identify and address the time-consuming and frustrating elements of traditional MDM platforms and are working to enhance the capabilities of our solution and guide our customers throughout every step of their XR journey.”
The growth of ArborXR has been driven by the success of its global clientele in adopting immersive technology. Bank of America, one of the first financial institutions to adopt VR training, has seen remarkable results, with 97% of associates feeling confident in applying their newly acquired skills after training in VR. Similarly, UPS, another customer, has achieved a 75% reduction in training time for new drivers, while also improving safety awareness and reducing costs. Pfizer, which began working with ArborXR amid the COVID-19 pandemic, reported a 40% decrease in total training time. Delta Air Lines has leveraged VR training for its deicing technicians, increasing the number of daily proficiency checks from 3 to 150 and saving millions of dollars in operational costs.
“The advances in immersive technology have proven to be an untapped segment, and ArborXR’s continued success demonstrates the technology’s value to the enterprise and its potential to transform the fundamental operations of Fortune 500 companies, academic institutions, healthcare providers, and more,” said Adrian Fortino, Managing Director at Mercury. “The ArborXR team has established themselves as a dominant force in this rapidly growing industry with a growing roster of global clientele.”
Mohsen Khurasany, a current customer, and Senior Manager of XR Innovation & Content at Walmart, said, “The ArborXR platform is incredibly user-friendly, and the ArborXR team’s responsiveness has allowed us to continually improve and optimize our training initiatives. ArborXR’s content sharing and release channels have streamlined our interactions with vendors, allowing us to test and deploy content effortlessly. The impact we’ve seen with XR has been remarkable, leading to better engagement, improved knowledge retention, and faster time to proficiency. As we scale XR training across the enterprise, ArborXR stands out as the best enterprise MDM solution on the market.”
About ArborXR
ArborXR is mobile device management (MDM) software for VR and AR that is used by Fortune 500 companies, businesses, and hundreds of independent software vendors to seamlessly manage devices, install apps and files remotely, and lock down the user experience with a Custom Launcher and Kiosk Mode. ArborXR allows enterprise companies to manage thousands of devices with enterprise-level security and control.
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