Virtualitics will use the funding to enable the further development of advanced AI solutions that unlock the full value of complex data.
PASADENA, Calif., May 18, 2023 – Virtualitics, the Intelligent Exploration company, today announced a strategic investment from Citi. Virtualitics will use the funding to accelerate the expansion of its AI Platform, adding more out-of-the-box machine learning and data analytics capabilities for exploring and analyzing data for financial services as well as other industries.
"Citi’s investment is a testament to Virtualitics’ differentiated position within the AI and data analysis market in the financial services industry and the value that the platform contributes across multiple industries,” says Michael Amori, CEO and co-founder of Virtualitics. “We’re on a mission to make it simpler for business leaders, analysts, data scientists, and others to harness the full potential of their data.” This funding will empower Virtualitics to better support some of the most critical decision-makers in financial services organizations.
The Virtualitics Platform brings sophisticated analytical capabilities, previously limited to data scientists, into the hands of business users. The platform’s advanced AI technology helps users explore complex datasets and uncover previously unseen insights at scale and without bias. Virtualitics allows users to make queries in plain English and generate 3D network graph visualizations that reveal important connections in data. Intelligent exploration improves efficiency, accuracy, and confidence for data teams.
The investment was made under Citi’s Institutional Strategic Investments program by the Spread Products Investment Technologies (SPRINT) team, which invests in and incubates innovative fintech companies that provide strategic relevance to fixed-income markets on behalf of the bank’s industry-leading Global Spread Products division.
“Businesses have a pressing need to extract more value from their vast data assets, a feat which can only be accomplished with more advanced analytical capabilities," says Katya Chupryna, Director, Citi SPRINT. “Virtualitics allows business and technical users to explore large datasets in an interactive and intuitive fashion that enables easier and more thorough data analysis and management reporting capabilities, unlocking additional insights and informing better decisions. We’re thrilled to welcome Virtualitics into our portfolio.”
Virtualitics, Inc., the Intelligent Exploration company, harnesses the power of AI- and machine learning-guided data exploration to transform organizations. Data exploration is the foundation of today's AI initiatives, but traditional methods are shallow and incomplete and leave companies with a narrow and biased understanding of their data. Virtualitics changes this, enabling data teams to quickly and thoroughly explore all of their data by using AI and machine learning to automatically discover patterns and meaning in their data. Rich 3D visuals and VR experiences enhance understanding, so teams and stakeholders move forward strategically with a strong foundation that guides smarter business decisions and AI initiatives. The company's patented technology is based on over 10 years of research at the California Institute of Technology and tested, proven, and depended on by the Federal Government. For more information about Virtualitics, visit virtualitics.com.
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.