“Interplay Learning is a revolutionary platform and a prime example of innovation that is exciting for Holt Ventures,” said Peter J. Holt, Holt Cat CEO and Holt Ventures advisory committee member.
(Interplay Learning photo)
Holt Ventures, the corporate venture capital arm of Holt Cat, participated in the $5.5 million Series A round of financing for Interplay Learning, a leading provider of online training for skilled trades using virtual reality (VR) and 3D simulations. Holt Ventures participated in the Series A round alongside SJF Ventures, Sierra Ventures, Wild Basin Investments, Shelter Capital Partners, Shasta Ventures. The round was led by S3 Ventures.
The round will support onboarding talent in Interplay Learning's Austin offices and customer success teams, in addition to aggressively accelerating expansion into new markets and developing new platform features.
"Interplay Learning is a revolutionary platform and a prime example of innovation that is exciting for Holt Ventures," said Peter J. Holt, Holt Cat CEO and Holt Ventures advisory committee member. "With the use of VR and 3D simulations, Interplay Learning will be an incredible resource to shrink the skills gap and worker shortage issue."
The firm has grown significantly in the past year, including a 40 percent month-over-month growth of SaaS platform users. This is in addition to recent growth in the past two years after the firm hired Pixar's senior engineer and is on track for an impressive 400 percent growth this year.
Interplay Learning's new way to on-ramp and advance skills for the industrial workforce features a catalog that includes dozens of interactive video courses by top experts and 3D troubleshooting simulations. Course materials are accessible by desktop laptop or VR-headset and provide an immersive learning experience for engagement and field-like experience.
"We are very happy to add Interplay Learning to our portfolio," said Meg Paulus, partner of Holt Ventures. "This investment is in line with our commitment to invest in companies that are innovating and solving challenges in the daily operations of our business."
About Holt Ventures
The Holt family has a long legacy of innovation in the industrial business space, dating back to the early 1900's when Benjamin Holt invented the track-type tractor, which was later named the Caterpillar. Today, the Holt family works alongside Caterpillar Inc. to deliver solutions through their heavy equipment dealership, Holt Cat which is the largest Cat tractor and engine dealer in the United States. Holt Ventures strives to continue the legacy of innovation by investing in technologies and bright minds that are focused on solving challenges in our business.
For more information, visit www.holtventures.com.