Transfr, a New York-based startup, has raised $40 million in a Series C funding round to expand its VR-based workforce training platform. The funding will be used to scale the platform, develop new training simulations, and expand its language offerings, including Spanish courses. Transfr aims to focus on "middle-skills" jobs, which require more training than a high school diploma but less than a four-year degree. The platform is already in use in over 1,000 locations across the U.S., serving various sectors including government agencies, Fortune 500 companies, and educational institutions.



New York, NY — Transfr, a New York-based startup specializing in virtual reality (VR) workforce training, has successfully raised $40 million in a Series C funding round. The investment was led by ABS Capital, with significant participation from JPMorgan Chase and other existing investors. This latest round brings Transfr's total funding to $90 million, underscoring the company's growing impact in the workforce development sector.

Aiming for Middle-Skills Jobs

Transfr's platform focuses on "middle-skills" jobs, which require more training than a high school diploma but less than a four-year degree. The company aims to create alternative pathways to employment in high-growth sectors like manufacturing, skilled trades, and healthcare, especially for those without a college degree.

Expanding Reach and Impact

The new funding will be used to scale the platform, develop new training simulations, and expand its language offerings, including Spanish courses. Transfr's VR simulation and training platform is already in use in over 1,000 locations across the U.S., serving various sectors including government agencies, Fortune 500 companies, and educational institutions.

Real-World Applications

Transfr's VR training modules offer immersive, real-world scenarios that enable trainees to practice skills in a safe and controlled environment. These simulations are designed to be so realistic that they can replace traditional training methods, thereby reducing costs and increasing efficiency.

Strategic Partnerships

In addition to financial backing, Transfr has garnered support from industry experts and advisory services. The company works hand-in-hand with its investors and partners to design solutions that can be quickly operationalized, offering tailored advisory services to its clients.

A Catalyst for Economic Development

"Transfr's solution puts HR and finance on the same page so they can better partner together, spend less time wrangling spreadsheets and more time stewarding the people strategy at their companies," said Bharani Rajakumar, CEO of Transfr.

Future Prospects

With this new funding, Transfr plans to further invest in R&D and expand its market reach, aiming to become a global leader in VR-based workforce training. The company is also exploring partnerships with educational institutions to integrate its platform into existing curricula.

About Transfr

Transfr is the leader in Total People Investment. The company helps organizations create a people advantage through improving retention, attracting top talent, and increasing people-spend ROI. Transfr connects employee total comp programs with insightful people analytics so companies can manage their global people investment in real time to better meet the needs of their evolving workforce.