Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for banking industry professionals · Sunday, November 27, 2022 · 603,493,399 Articles · 3+ Million Readers

HTX Labs Secures $3.2M to Accelerate Growth and Scale

HTX Labs Logo

HTX Labs Logo

Scott Schneider CEO, Co-Founder HTX Labs

HTX Labs raises first outside capital of $3.2M

HOUSTON, TEXAS, UNITED STATES, September 28, 2022 /EINPresswire.com/ -- HTX Labs, developer of the EMPACT® Immersive Learning Platform, announced that it has raised its first outside capital -- $3.2M from Cypress Growth Capital, a pioneer in royalty-based funding.

Since 2017, HTX Labs has been on a mission to accelerate the future of learning; designing, and developing the EMPACT platform to modernize training, scale talent development, and build resilience and readiness across the Department of Defense and commercial Enterprises.

The EMPACT software platform enables organizations to rapidly create, deploy, measure, and sustain cost-effective, secure, and centralized immersive training programs, all within engaging, fully interactive virtual environments. The capabilities EMPACT provides allow users to deliver critical training to the point of need, allowing students to train anytime, anywhere, and on any device, at scale.

HTX’s core value proposition is to provide the necessary digital infrastructure for workplaces to develop and sustain their own immersive learning programs through end-to-end XR solution modules, including advanced virtual models and simulations, low/no-code content creation tools, seamless integration with existing computing systems, and robust data visualization and analytics capture. EMPACT provides for deployment at scale with support for tablets, laptops/desktops, standalone VR headsets, and full roomscale VR installations.

“We have been looking to secure outside capital to accelerate the growth of our EMPACT platform and customer base but we hadn’t found the right partner who provided an investment vehicle that matched our needs“, stated Scott Schneider, CEO & Co-Founder, HTX Labs. “We found everything we were looking for in Cypress Growth Capital. They have a non-dilutive funding model that aligns with our capital expectations and have the level of experience that really makes this smart money. Cypress has a decade-long track record of success in helping emerging software and services companies achieve scale. It is clear that the team’s collective entrepreneurial and operating experience will be of tremendous benefit to us as we focus on expanding our customer base in a very intentional way.”

HTX plans to deploy the capital with a focus on growth and scale. This includes expansion of the revenue team in order to expand the current footprint within the US Department of Defense and identify expansion opportunities into key commercial markets, such as heavy industry, manufacturing, and higher education. The capital will also be used to prepare for increased customer adoption, ensuring that both EMPACT software and accompanying support teams are prepared to meet the anticipated demand. Expansion of the EMPACT partner and development network is an additional objective for the capital, with a focus on driving the adoption of EMPACT’s Developer (low-code) and Studio (no-code) immersive content authoring tools in order to further accelerate the creation of interactive virtual learning environments and immersive training courseware.

“Scott and his team have built an exceptional business that is poised for dramatic growth,” said Cypress Partner Pat McCaffrey. “HTX Labs’ modern, immersive training solution provides clients with a force multiplier for modernizing training and an unmatched ROI.”

####

About HTX Labs
HTX Labs is a commercial software company on a mission to accelerate the future of learning, employing XR technology and high-fidelity simulations for enterprise and government organizations to elevate the level of proficiency and preparedness of the next-generation workforce. HTX’s EMPACT® Immersive Training Platform enables organizations to rapidly create, deploy, measure, and sustain realistic immersive learning content anytime, anywhere, on any device, at scale.

Media Inquiries:
Ashleigh Lenamond
HTX Labs | VP Marketing and Strategy
htx.media@htxlabs.com

About Cypress Growth Capital

Cypress Growth Capital is a Dallas-based investment firm who pioneered non-dilutive growth capital specifically tailored to the unique funding needs of emerging software and services companies. We built our investment firm to support entrepreneurs who want to preserve their valuable equity, control their destiny, and who believe their company is poised for great success. The Cypress team has extensive operating and entrepreneurial experience and a twelve-year track record of successful outcomes for our portfolio companies.

Ashleigh Lenamond
HTX Labs
email us here
+1 844-489-5227
Visit us on social media:
Facebook
Twitter
LinkedIn
Other

HTX Labs EMPACT Immersive Learning Platform Capabilities

Powered by EIN Presswire


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release