With the acquisition of Virtualiz, Virteem confirms the concentration – and the appetite – in the metaverse market

While for many the metaverse is still a gray area, for analysts this parallel virtual world appears to be one of the biggest opportunities for growth in the next decade. Studies are proliferating and all, although their numbers differ, report progressions that are considered phenomenal. Thus, Grand View Research predicts an average annual growth rate of 39.4% in the global market from 2022 to 2030, by which time it could generate $678 billion. McKinsey thinks bigger. The firm estimates that the market could represent up to $5 trillion by 2030 and notes that investment there will more than double between 2021 and 2022 to reach more than $120 billion.

light and heavy

It is in this explosive market in the making that Virteem has positioned itself for ten years. Founded in 2012 under the name VIP 360, this specialist in virtual, immersive and collaborative experience solutions was “from the metaverse before the metaverse“, smiles its manager, Kevin Soler. Kind of “metaverse light” – or extended virtual tour – where the virtualized environment integrates a number of possibilities, from making appointments to live chat, from playing the experience to creating video conference sessions. The idea is to “the user no longer reviews the information, but lives it through a unique experience“, specifies the leader. Who hears now “go further“.

This is the whole purpose of Virteem’s takeover of the Virtualiz studio announced at the end of September. Based in Angers, this 4 person company specializes in 3D tools, virtual reality with manipulation and the metaverse. A kind of “heavy metaverse“, this time making it possible to create avatars that move and interact in real time.”It is the logical continuation of what we do. With this solution we see who we are talking to, which is very important for some of our customers who are already used to our lighter solutions and who challenge us.“.

3,500 customers, 4 business areas

Indeed, Virteem claims a portfolio of 3,500 clients, from SMEs to large accounts, including Axa, Bayer, PSA, Safran, Ecole Polytechnique and Panthéon Sorbonne University. The company thus covers four major business verticals, where the virtualization of places, whether in the form of visits, fairs, virtual realities or the metaverse, plays a strategic role.

Namely human resources, via virtual platforms for recruitment or onboarding (integration) of new employees. Also the industry in connection with digital twins or promoting its know-how, for example. “We also see a need for QSE (Quality, Safety, Environment, editor’s note). Thanks to our solutions readable on computer, tablet, mobile and VR headset, we can prevent falls from low floors, wearing PPE…”he explains.

The third vertical relates to education, particularly the virtual open house component. “A big topic during and since Covid“, the manager states. According to McKinsey’s forecasts, the sector is also considered to be one of the most lucrative with e-commerce, advertising and games. Finally, tourism, whether public (community, tourist office, museum) or private (mainly accommodation ).

Focus on exports

Profitable”since the first exercise“Virteem has started a first round of financing, which it wants to close before the end of the year. The goal? To mobilize 5 million euros to support growth.”We are encouraged by the economic climate, which is moving in the right direction, and with our repositioning in SaaS mode, the evolution of our technology towards greater agility and the acquisition of Virtualiz, we have reached a milestone that opens new opportunities for us. ‘international“In this regard, there are two Business France missions on the program for this autumn, the first in Canada, the second in Finland and Denmark.”We have this ambition, but for that I have to surround myself with premium profiles, and therefore raise funds to look for them.The company, which has 17 branches in France, currently employs around sixty people, including 18 at its headquarters in Sophia Antipolis. There should be 35 there by the end of 2023.