New York City-based Transfr VR, which uses virtual reality to simulate on-the-job training, has raised $35 million in a Series B funding round.

The round was led by Lumos Capital Group, a growth equity firm focused on education technology and workforce development. Existing investors Firework Ventures and Album VC and new investor Spring Tide Capital also participated.

Transfr’s other backers include former chief executive of Penn Foster, Stuart Udell; former chief executive of Udemy, Dennis Yang; Degreed founder, David Blake; co-founder of WorkMarket Jeff Wald; and former chief executive of Upwork and Elance, Fabio Rosati.

Lumos Capital Group’s co-founder and managing partner Victor Hu will join Transfr’s board.

Established in 2017, Transfr uses virtual and augmented reality simulations for training in industries including automotive, aerospace, advanced manufacturing, healthcare and construction.

The company says it has grown from serving customers in a single state to working with non-profit, public sector, and enterprise partners in 36 states and the District of Columbia. More than 10,000 workers, jobseekers and students have accessed the company’s virtual reality simulations, which simulate on-the-job training and experience.

Date Published: 20 June 2022

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