Virtual experience business Touchcast, Inc., situated in New York City, secured $55 million in series A funding.
Accenture Ventures, Alexander Capital Ventures, Saatchi Invest, Ronald Lauder, and other investors supported the project.
The money will be used by the business to expand its platform.
Touchcast, led by founder and CEO Edo Segal, offers a platform for virtual events that combines AI and mixed reality to enable businesses to communicate and collaborate. The platform creates an engaging, insightful experience that enables attendees to connect, just like they would at an actual event.
Event attendees can record and synthesize their collective wisdom using the platform’s real-time knowledge-sharing and collaboration features, which also include live transcription and translation. Additionally, the architecture eliminates the constraints of time, space, and language, enabling communications to be discovered and put to use right away.