AI is rapidly changing how we work and what skills will be needed to be successful this next decade. According to a recent global study conducted by the IBM Institute for Business Value, executives predict that 40% of their employees will need to acquire new skills due to the integration of AI and automation in the next three years. This could affect as many as 1.4 billion out of the 3.4 billion people currently in the global workforce. That’s why we invested in the Regis Company.
The Regis Company’s new simulation-based platform is designed to accelerate learning new skills faster. Simulations have traditionally been the favored approach for enhancing and updating workforce capabilities, but their creation and deployment have often come with high costs. SimGate is a groundbreaking solution that reduces simulation design and development expenses by an astonishing 90%. We’re excited to announce our investment in backing the latest innovation in enhancing and updating workforce capabilities.
– Team AVP
Company focuses on expanding its SimGateTM experiential learning platform for enterprises to create and deploy simulation-based learning at scale.
Golden, CO. (September 11, 2023) — The Regis Company, a pioneering developer of innovative learning solutions, announces the release of SimGateTM, the AI-powered simulation platform for enterprise learning, and its successful closure of seed funding round.
The SimGateTM platform enables global organizations to create, develop, implement, and manage simulations. The platform’s no-code authoring environment allows users to create relevant and engaging business simulations. Along with powerful AI integrations, learning designers can easily create new, highly contextual learning experiences with a few simple prompts.
SimGate’sTM Suite of tools has cut the design and development cost of simulations by 90%. SimGate’sTM proprietary AI accelerates the design and development of simulations by allowing organizations to effortlessly incorporate their unique content — from past learning materials to proprietary data — into a unified authoring environment. Leveraging this content, organizations have the freedom to produce content solely rooted in their initial materials or choose to augment it with additional AI-driven insights.
This funding round represents a significant achievement for the company, confirming the anticipated rapid growth associated with practice-based learning through simulations. The investment was led by Access Venture Partners with participation from Firebrand Ventures, FirstMile Ventures, and a strategic investor, Management Concepts.
SimGateTM has revolutionized the learning experience, allowing participants to engage with content by making decisions, observing the consequences, and refining their thinking. Frank Mendicino, Managing Partner at Access Venture Partners notes, “The ability of simulations to improve behavior and thinking is unmatched. Yet, many organizations resort to eLearning due to its simplicity and cost-effectiveness. With SimGate’s AI-powered tools, organizations can now effortlessly create skill-building simulations instead of just consuming eLearning content.”
SimGateTM simulations are adaptable in terms of duration and delivery formats (self-guided, team-based, or in-person learning) and cater to a wide range of skill development – including enhancing leadership, interpersonal development, sales effectiveness, operational efficiencies, and business acumen. The behavioral analytics captured by each simulation provides organizations with data and insights into their learner’s abilities, thinking, and alignment with organizational objectives.
Mike Vaughan, CEO of The Regis Company, states, “Simulations have long been the preferred method for upskilling and reskilling the workforce; however, they’ve been too costly to build, deploy, and maintain. Not anymore. With SimGate, any size organization can use simulations to transform their people and their business faster.”
The funds raised will be utilized by The Regis Company to further build out a sales and marketing team with the goal of educating the world about creating scalable, affordable, and effective learning simulations. To delve deeper into SimGate, visit www.regiscompany.com.
About The Regis Company
We aim to make simulations accessible to everyone. Regis offers technology that allows any size organization to create, construct, implement, and manage simulations. For organizations aiming to expand their simulation capabilities or gain valuable insights into their workforce, SimGate presents an adaptable and cost-effective solution.