vSpatial

vSpatial creates "virtual" work environments by using AR/VR technology.

Its technology enables users to feel like they’re in an office setting, even when they're working from home.

According to Zion Market Research, the global AR/VR market is projected to reach $814 billion by 2025. And some of the biggest tech titans are embracing this technology:

Said Tim Cook, CEO of Apple, “In a few years, we’re not going to be able to imagine our lives without AR.”

When asked about using VR for meetings, Facebook CEO Mark Zuckerberg said, “It is much better than a video conference… you can do work together.”

Companies like Apple, Facebook, and Google are placing big bets on the future of this technology. For example:

Apple is developing an AR headset that a U.S. News and World Report article said could be a “game-changer” for the company. And Facebook and Google are building special AR/VR glasses.

vSpatial is entering this market by targeting the rapidly-growing “remote work” movement. According to a May 2018 CNBC report, 70% of people work remotely at least once per week.

But current video conferencing tools and messaging apps don’t provide the kind of presence needed to genuinely connect with co-workers. As a result, these employees often feel neglected or devalued compared to in-office workers.

vSpatial solves these issues with a virtual environment that combines a video conferencing app, group chat, personal computer monitors, and even physical office space. All users need to access this environment is a headset.

vSpatial was founded in 2016, and has since raised $3.3 million from investors. In 2017, it released a beta version of its product, compatible with several leading headsets, including Oculus Rift and Oculus Go, HTV Vive and Vive Pro, Magic Leap, and Windows MR.

Currently the company’s beta product is free, and is used by more than 30,000 customers in 107 countries.

Later this year, vSpatial will launch a subscription model that gives its subscribers access to the platform software and cloud services. Longer term, the company plans to sell system software licenses to large enterprises.

Team Background

John Sallaway - Co-Founder & CEO

John has an extensive legal background.

Prior to co-founding vSpatial, he was a partner at Martin & Sallaway, as well as Burnett & Thomason. He began his career as an associate with Jackson Walker LLP, a Texas-based firm representing Fortune 500 companies and financial institutions.

John earned a Law degree from Texas Tech University.

Richard Platt - Co-Founder & President

Richard has experience building tech-related startups.

He was President and CEO of myRead.com, a children’s book publishing company. In addition, he was Chief Technology Officer of NetSocket, a startup developing software to enhance network communication.

Most notably, Richard founded Selsius Systems, which was acquired by Cisco Systems (NASDAQ: CSCO) in 1998. At Cisco, he was the company’s VP of Engineering for six years and developed telecommunications products.

He earned a Bachelor’s degree in Electrical and Communications Engineering from BYU.

Co-Investors