IrisVR (part of The Wild) is a technology company.
IrisVR (part of The Wild) has raised $14.0M across 3 funding rounds.
IrisVR (part of The Wild) has raised $14.0M in total across 3 funding rounds.
IrisVR (part of The Wild) has raised $14.0M in total across 3 funding rounds.
IrisVR (part of The Wild)'s investors include Acton Capital Partners, Alpine Ventures, Entrée Capital Ventures, Founders Fund, Goodwater Capital, Rethink Ventures, Valar Ventures, Adeyemi Ajao, Emergence Capital, EQT Ventures, GSV Acceleration, Indicator Ventures.
IrisVR, now part of The Wild following the acquisition of its flagship product Prospect, develops virtual reality (VR) software for architecture, engineering, and construction (AEC) professionals.[1][2][3] Its core product, Prospect, enables seamless conversion of 3D models from tools like Revit, SketchUp, and Navisworks into immersive VR walkthroughs and collaborative meetings, compatible with headsets such as Oculus Rift, HTC Vive, and Meta Quest 2.[2][3] This solves key pain points in AEC by allowing teams to visualize, review, and coordinate designs at full scale in VR, identifying issues early to reduce errors and costs before physical construction.[1][2] With over 60,000 users and $10-12 million in funding raised pre-acquisition, IrisVR demonstrated strong growth in immersive tech adoption.[1][3]
Post-acquisition by The Wild in an undisclosed recent deal, Prospect operates alongside The Wild's shared VR/AR workspaces, enhancing XR collaboration for remote AEC teams.[1][4] This integration targets design reviews, prototyping, and stakeholder alignment, serving architects, engineers, contractors, and enterprises amid rising demand for spatial computing tools.[1][4]
IrisVR was founded in 2014 by CEO Shane Scranton and CTO Nate Beatty in New York City, with a mission to simplify VR adoption for AEC by enabling easy creation, sharing, and interaction with 3D models on platforms like Oculus Rift and HTC Vive.[1][2][3] The idea emerged from the need to transition real-world assets into VR, building on building information modeling (BIM) as the "natural next step" for immersive design exploration and refinement.[5][6] Early traction came via Prospect, which supported major design software and garnered 60,000 users while raising $10-12.1 million across four rounds.[1][3]
In 2017, Gabe Paez founded The Wild, inspired by spatial computing and XR momentum, to create shared virtual workspaces with VR/AR tools.[1] The acquisition of Prospect by The Wild united these pioneers: IrisVR's design review strengths complement The Wild's multi-user collaboration, accelerating immersive tools for AEC amid post-pandemic remote work shifts.[1]
These features position it ahead of competitors like Fologram or Magic Leap by prioritizing ease-of-use and AEC-tailored immersion over general AR/VR hardware.[2]
IrisVR (via Prospect and The Wild) rides the XR wave in AEC, where VR/AR bridges remote collaboration gaps exposed by the pandemic, reclaiming "full-sensory" design experiences in 3D scale.[1][4] Timing aligns with maturing hardware (e.g., Quest headsets), BIM standardization, and market forces like labor shortages and sustainability demands, which favor early virtual issue detection to cut construction waste (up to 30% from design errors).[2] It influences the ecosystem by pioneering VR for BIM workflows, enabling global teams to prototype faster and align stakeholders, while integrations with enterprise tools like Revit amplify adoption in a $10 trillion industry shifting to digital twins.[1][4][5]
With Prospect strengthening The Wild's suite, expect deeper XR-AEC fusion: AI-enhanced simulations, broader AR enterprise integrations, and expanded multi-user limits to handle complex projects.[1][4] Trends like affordable headsets, 5G remote rendering, and metaverse-like workspaces will propel growth, potentially capturing more of AEC's digital transformation amid climate-driven prefab booms. IrisVR's legacy in democratizing VR for design review sets The Wild to lead immersive collaboration, turning spatial ideas into real-world impact faster than ever.[1][2]
IrisVR (part of The Wild) has raised $14.0M across 3 funding rounds. Most recently, it raised $4.0M Series A in April 2019.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Apr 1, 2019 | $4.0M Series A | Acton Capital Partners, Alpine Ventures, Entrée Capital Ventures, Founders Fund, Goodwater Capital, Rethink Ventures, Valar Ventures | |
| Oct 1, 2016 | $8.0M Series A | Acton Capital Partners, Alpine Ventures, Adeyemi Ajao, Emergence Capital, Entrée Capital Ventures, EQT Ventures, Founders Fund, Goodwater Capital, GSV Acceleration, Indicator Ventures, Lightspeed Venture Partners, NextView Ventures, Jeff Richards, Rethink Ventures, Spark Capital, True Ventures, Uncork Capital, Valar Ventures, Charlie Cheever, Eric Feng, Matt Mazzeo, Megan Quinn | |
| Jul 1, 2015 | $2.0M Seed | Acton Capital Partners, Alpine Ventures, Entrée Capital Ventures, Founders Fund, Goodwater Capital, Indicator Ventures, Laconia Capital Group, Rethink Ventures, Valar Ventures |