ENGAGE XR Holdings Plc, a virtual reality (‘VR’) technology company based in Waterford, announced ENGAGE revenue was up 200% to €1.8 million this week.
ENGAGE XR’s aim is to become the world’s largest crossed reality (‘XR’) communications, training and virtual events platform provider, through the commercialisation of ENGAGE, its proprietary online virtual communications platform.
David Whelan, CEO, ENGAGE XR, said:
“2021 was a pivotal year of growth for our business with an impressive revenue increase of 68% thanks to the growth in demand for ENGAGE. During the year, we continued to expand ENGAGE’s client list of blue-chip companies, and the platform reached a record 139 commercial customers.
“We believe that one area that makes ENGAGE stand out compared to its competition is data security. Therefore, we are very proud to have become the only multi-user VR platform to have ISO 27001 certification in 2021.
“The really exciting growth opportunity for our business is providing Metaverse services, via ENGAGE, to major enterprise clients. Our Metaverse plans for ENGAGE are very different to Meta’s Horizons, Microsoft’s AltSpace or Roblox. We are well positioned to become the enterprise solution for companies seeking to enter the Metaverse to host meetings, events, product launches, and conduct training. We are already capturing this opportunity through our work with 3M, who is using our platform to build its own ‘Metaworld’. We look forward to fully launching our metaverse offering in the second half of this year.
“At ENGAGE XR we are expanding fast, and I expect 2022 to far eclipse the achievements of previous years.”