NYC Startup and Techstars Alum IrisVR Closes $1.625M Seed Round with Indicator Ventures, Valar Ventures, Azure Capital, Morningside Group and others to Make Enterprise Virtual Reality a Reality

NEW YORK, July 7, 2015 — (PRNewswire) — IrisVR, a New York City-based startup founded by Nate Beatty and Shane Scranton, recent NYC accelerator Techstars alumni, announced today that it has closed a $1.625M funding round led by Indicator Ventures and Valar Ventures to bring its virtual reality software to market.  

IrisVR is building a suite of software that can transform any digital 3D model into an immersive Virtual Reality experience, instantly.  While there are a broad number of applications for such a powerful technology, IrisVR is first focusing on the massive architecture, engineering, and construction (AEC) vertical.  IrisVR's platform gives design professionals a simple drag and drop interface to turn CAD models into virtual reality. "With IrisVR you can literally walk through an unbuilt building, test out different design options, show your clients a true-to-scale space, and incorporate changes before the structure is ever built, saving time and money for all parties," says Shane Scranton, CEO.  Its latest version, launched in beta last week, supports CAD files from software like Revit and SketchUp, among others, and renders immersive virtual experiences in one click.

Some of the leading companies in virtual reality and design are working closely with IrisVR, such as Valve, Chaos Group, and Vectorworks. Currently, the product is only available for beta users, but that's not stopping customers from lining up. IrisVR currently has over 500 beta customers with a waiting list of more than 2,000 ready to tap into the technology.

"We are delighted to announce the close of our seed round with such an esteemed group of investors who are committed to virtual reality for professional applications; IrisVR is bringing enterprise software to a space that has been largely dominated by gaming and entertainment," says Nate Beatty, CTO. "We have been building something really special over the past two years. The capability to see a design rendered in virtual reality is a game changer for both businesses and the consumer, and we are gratified at how many building professionals have adopted our platform to bring their designs to reality with our technology."

IrisVR is currently working on the next version of the platform that will coincide with many of the highly anticipated hardware launches such as the Oculus Rift and HTC Vive, slated for 2016. Next, IrisVR is adding tools that make it easier for designers to collaborate on and share VR walkthroughs, create beautiful presentations, and interact with their virtual models.

Designers who wish to join beta for IrisVR can apply on the company's site.

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SOURCE IrisVR