# Serious Labs

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/serious-labs

- Industry: Education/Training
- Headquarters: Edmonton, Canada
- Website: www.seriouslabs.com
- Total disclosed funding: $5M
- Latest round: Series A (Aug 14, 2017)
- Investors on record: 2

## About

Serious Labs Inc. develops advanced virtual reality training simulators for heavy equipment operations, enhancing workplace safety and operational efficiency through immersive training solutions.Serious Labs Inc. specializes in creating cutting-edge virtual reality training simulators for heavy equipment. Founded in Edmonton, Canada, in 2005 by Kelly Morstad, the company has focused on the construction and manufacturing sectors. The company raised USD 5.00 mn in Series A funding on August 14, 2017, co-led by Brick & Mortar Ventures and United Rentals, marking its first significant investment round.Serious Labs Inc. offers advanced virtual reality training simulators, including the Mobile Elevating Work Platform (MEWP) VR Simulator and the ITI VR Crane Simulator. These products utilize proprietary simulation software and real machine controls to provide immersive training experiences aimed at enhancing operator skills in a safe environment. The company serves a diverse clientele across North America, Europe, and beyond, including training organizations and large corporations focused on skilled machinery operation.The revenue model of Serious Labs Inc. is based on the sale and leasing of VR training simulators, coupled with ongoing service and support agreements. They primarily engage in B2B transactions, providing tailored packages to businesses aiming to improve their training capabilities. Customers typically enter agreements involving upfront payments for simulator purchases and subscription models for software updates and training modules, making advanced training technology accessible to various market segments.Serious Labs Inc. plans to expand its product offerings, focusing on new virtual reality training solutions designed to meet the evolving needs of the heavy equipment industry. The company aims to penetrate new geographic markets, specifically targeting regions in Europe and Asia by 2025. The recent Series A funding of USD 5.00 mn will support these initiatives, allowing for the development of new training technologies and enhanced market reach.

## Funding rounds

- Series A, Aug 14, 2017, $5M — United Rentals, Brick & Mortar Ventures

## Investors

- United Rentals — Series A
- Brick & Mortar Ventures (https://capitalatlas.ai/funds/brick-mortar-ventures) — Series A