As David Whelan, chief executive officer of Immersive VR Education, put it to VRWorldTech during an interview for the next issue of VRWorldTech Magazine: ‘We’re down in the trenches, generating revenue, and we have clients with real use cases’
➨ Immersive VR Education most recently reported earnings of approximately €1.42 million, up 38% on the prior year’s €1.02 million
➨ Learning remains a primary use case for ENGAGE
➨ To read the full article, you’ll need to pick up a copy of the next issue of VRWorldTech Magazine
When it comes to immersive technology for enterprise, not least education, few are as established or valued by their customers as Ireland-headquartered Immersive VR Education, the company behind the ENGAGE virtual communications tool for learning, collaboration and events, as well as content such as the Apollo 11 virtual reality experience.
Immersive VR Education’s latest financial projections back up these claims. During the company’s 2020 financial year, it expects to earn approximately €1.42 million in revenue, up 38% on the prior year’s €1.02 million.
ENGAGE’s revenue and user base are up by 550% and more than 700%, respectively, and the tool now accounts for more than 40% of the company’s revenues, up from 9% the previous year.
What’s more, Immersive VR Education believes that, by 2025, ENGAGE can reach the €10 million annual revenue milestone, as well as 500 active enterprise customers and 100,000 monthly users.
As David Whelan, chief executive officer of Immersive VR Education, put it to VRWorldTech during an interview for the next issue of VRWorldTech Magazine: “We’re down in the trenches, generating revenue, and we have clients with real use cases.”
Learning remains a primary use case for ENGAGE, even as Immersive VR Education discovered over the past year, since the outbreak of Covid-19, that businesses see the tool as ideal for remote team collaboration and meetings.
Whelan says two events in particular turned the attention of schools, colleges and universities towards ENGAGE, where dozens of learners can simultaneously enter a virtual world, through and in multiple devices and modalities, to walk on the surface of Mars, through the human body or with dinosaurs, to name but three experiences that the platform makes possible.
The increasing affordability of virtual reality headsets such as Oculus Quest 1 and 2 was one major event. The second, of course, was the outbreak of Covid-19.
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To read the full article on ENGAGE, Immersive VR Education’s plans for the learning use case, and how the company is aiming to change the way education is delivered, you’ll need to pick up a copy of the next issue of VRWorldTech Magazine.
The best way to get your hands on a print or digital copy of this issue of VRWorldTech Magazine is to buy a subscription.
Subscriptions are available as three- or six-issue bundles, beginning at £90 for digital and £150 for print, and are inclusive of all costs and taxes. All you have to do is fill out the VRWorldTech Magazine subscription form and return it to firstname.lastname@example.org.
Issue six of VRWorldTech Magazine, the first of 2021, focusing on education and also featuring, Lenovo, the University of Nottingham and MindFuel, will be available from 8 February in print and 22 February online.
Issue seven of VRWorldTech Magazine, which will be published in April, will focus on immersive technology hardware, taking a bird’s-eye view of the market and where enterprises might best direct their investments.
Images: Immersive VR Education