Fri.Apr 16th , Apr 2021 12:11:17 PM
Touchcast seizes US$55 million in Series A funding round

The funds raised by Accenture would help Touchcast to upgrade its immersive experience platform

One of the leading virtual experience companies- Touchcast- has reportedly announced generating USD 55 million in series A funding led by Accenture Ventures, along with participation from Saatchi Invest, Alexander Capital Ventures, Ronald Lauder, and others.

Reports have it that the funding would support Touchcast to upscale its virtual events platform, that combines the power of mixed reality and artificial intelligence to transform how enterprises collaborate and communicate.

Boasting the technological advancements like mixed-reality and AI, the Touchcast platform enables real-time knowledge-sharing and collaboration, allowing event participants to synthesize and capture their collective intelligence. Moreover, the platform’s intuitive design also eradicates the barriers of time, distance, and language, making communications discoverable and actionable for future reference.

Speaking on the novel move, Edo Segal, CEO and Founder of Touchcast, quoted that the coronavirus pandemic has dynamically accelerated the need to restructure and reimagine the way businesses connect and collaborate with each other.

In order to be in line with the ongoing transformations, Touchcast harnesses the power of mixed-reality and AI to deliver a virtual event platform that restructures how knowledge is created and shared across time and space, offering an interactive and unprecedented immersive experience.

On the other hand, MD at Accenture Ventures, Tom Lounibos, stated that the firm’s investment in Touchcast represents its commitment in identifying the latest technologies that help meet Accenture Venture’s client’s crucial business needs.

Additionally, distributed workforces, digital disruption, and customer experience are some of the prominent driving forces behind the need for companies to transform how they do business and move toward the future of work.

For the record, Touchcast is currently addressing the burgeoning statistics of global market for virtual events by delivering technology that goes quite beyond a static online video expertise- a virtual platform which provides interactive, captivating, and insightful experience that enables attendees to truly connect, as to an in-person event.

Source Credit: https://www.prnewswire.com/news-releases/touchcast-closes-55-million-in-series-a-funding-to-reignite-the-trillion-dollar-event-ecosystem-in-a-post-covid-era-301221021.html

By Shreya Bhute

With corporate exposure in software and marketing, Shreya was always intrigued by content development. Having pursued her graduation in I.T. engineering, she works as a content writer for people.partilepep.com and jots down news articles across distinct domains including technology, business and healthcare.