Transfr, a VR solution provider focused on secondary vocational skills training, announced that it has raised $40 million in Series C growth capital investment.
The round was led by ABS Capital alongside JPMorgan Chase Impact Finance and Advisory, and existing investors – Lumos Capital Group, Akkadian Ventures, Spring Tide Capital, and Firework Ventures, and Album. To date, Transfr has raised more than $90 million.
Increasing Reach and Broadening Scope
Transfr plans to use the funding to further build its team and expand its platform and reach, enabling more people to explore, learn and connect with career opportunities in high-growth industries such as manufacturing, technology trade and healthcare.
Transfr’s mission is to train the future of every industry and open up exciting new opportunities for talent across the globe and at home.
Transfr train people for well-paying careers available now in high-demand fields, enabling learners to find job security and upward mobility, facilitated by immersive, hands-on VR training.
Transfr’s innovative approach to career education targets careers that require a diploma beyond high school but less than a four-year degree. With middle-skill jobs accounting for more than half of the U.S. labor market, Transfr is addressing a critical need.
Hundreds of Simulations for High-Paying Jobs
The company’s virtual reality (VR) platform hosts more than 300 simulations, providing hands-on experience in automotive, aviation, construction, electrical, healthcare, hospitality, manufacturing and more.
Transfr has expanded rapidly over the years and now operates in more than 1,000 locations across the country, including community colleges, trade schools, employers, prisons and K-12 schools.Through these initiatives, it has increased its user base tenfold in the last year alone. Participants have completed more than 400,000 simulations, preparing them for real-world middle-skilled careers.
