Vancouver-based Motive.io secures funding through N49P seed round
VANCOUVER, British Columbia, June 23, 2021 (GLOBE NEWSWIRE) — Motive.io, the immersive training platform for enterprise, secures significant seed capital to fund the growth of its industry-leading platform. The seed round was led by Toronto-based venture capital firm N49P along with several Vancouver-based angel investors. This equity financing will allow Motive to deepen its Engineering, Sales, and Customer Success investments to better serve Motive’s growing roster of Fortune 500 customers.
“We’re excited about VR as a training modality, and Motive has succeeded in solving the barriers to widespread adoption. Their ever-growing list of Fortune 500 clients is testament to the fact that VR is the future of training and Motive makes it possible,” said Alex Norman, Partner at N49P.
Motive emerged out of the realization that immersive technology (virtual reality and augmented reality) could offer corporate learning teams an entirely new, high-performance medium to deliver essential skills training – especially for those industries that are contemplating training in a distributed fashion or engage in high-risk work that is better trained in the safety of a virtual environment.
“Adult education and corporate training has seen very little innovation since the advent of the internet. While traditional methods are known to offer a predictable, modest ROI, it’s now a well-established science-fact that virtual reality style training offers vastly superior learning outcomes – including measurably higher retention, engagement, and satisfaction. This seed investment serves as great validation of Motive’s transformative technology, and will help us expand our industry-leading platform, and provide our growing list of customers with an unprecedented level of support,” said Ryan Chapman, CEO of Motive.
Motive has also dedicated itself to overcoming the traditional impediments associated with immersive training; namely high production costs and the inability of corporate trainers to author or control their own content. The Motive.io platform allows IT departments to securely host Motive on their own hardware, or via their chosen cloud provider. Learning teams can use the Motive StoryFlow authoring tool to visually build and edit their own high-fidelity immersive scenarios without code or any prior experience. In short, Motive finally brings the power of VR to learning professionals everywhere, and we think Motive is seeding a revolution in corporate training.
A further testament to Motive’s power, Accenture recently selected Motive as their chosen VR partner which allowed them to assist BC Women & Children’s Hospital in delivering immersive PPE training to its frontline workers. Berkeley Warburton, a managing director at Accenture who led the project, said, “At Accenture, we are committed to using emerging technology to benefit people and communities. Motive.io’s intuitive platform enabled our learning and development team to create effective training modules quickly, and we are excited to add Motive.io to our global portfolio of capabilities.”
About Motive: Motive.io is a leading provider of immersive training solutions for enterprise. The Motive.io platform allows clients and partners to build, deploy, and maintain their own interactive 3D training scenarios on any VR headset or mobile device. Founded in 2015, Motive.io has built industry-leading expertise in virtual and augmented reality since the dawn of immersive technology. Motive.io now offers the most comprehensive and easy-to-use immersive training platform available on the market. Visit www.motive.io to learn more.