With this acquisition of Prospect by IrisVR, we are poised to revolutionize immersive collaboration for AEC teams and beyond.
We’re excited to announce that The Wild has acquired IrisVR‘s flagship product Prospect. IrisVR and The Wild have both been pioneers in using VR to communicate and collaborate upon spatial design for the architecture, engineering, construction, and design industries.
Prospect, IrisVR’s powerful VR design review and coordination product, aligns perfectly with our vision to shape the future of immersive collaboration for teams. These two revolutionary products will become even stronger together.
With this acquisition, we’ll combine forces to bring best-in-class XR collaboration to the AEC industry and beyond. Prospect and The Wild will continue to operate as independent products.
Read the official press release here.
Nate Beatty (CTO) and Shane Scranton (CEO) founded IrisVR in 2014 to help companies transition their assets to virtual reality (VR) by making software to easily create, share and interact with 3D models on major VR platforms, like the Oculus Rift and HTC Vive. During their tenure, IrisVR raised $10 million in funding and accrued more than 60,000 users.
Inspired by spatial computing and the future of XR, Gabe Paez (CEO) founded The Wild in 2017 to innovate upon this newly-charged momentum for immersive technology. The Wild provides a shared virtual workspaces for teams with a robust suite of VR collaboration tools, as well as access to augmented reality (AR) capabilities.
As we both competed for market share of the AEC industry, it became abundantly clear that teams were craving an interactivity beyond just visualizing their work in VR, but a tactile sense of collaboration and connection with colleagues. This need for human connectivity across distances was accelerated even more by a single catalyst that would tear our entire cultural fabric: a post-pandemic workplace.
With our immediate loss of physical connection, immersive technologies like VR and AR reclaim the full-sensory human experience, creating a shared environment that you can fully touch, hear, and see — in a fully 3D, 1:1 scale. At The Wild, we’ve been excited to help teams unlock the transformative power of XR to not only bridge this current gap of human connection, but to help ideas come to life faster than ever before with real business impact.
After pioneering VR for AEC from 2014 to 2020, IrisVR found itself at a juncture. In an effort to best serve an ever-evolving customer base and the industry at large, it became clear that The Wild presented the best opportunity to take this groundbreaking product and carry it into the future.
We're grateful for the strong foundation that IrisVR has laid, creating intuitive, immersive BIM features for AEC teams. With our momentum behind broader hardware support and real-time collaboration, we all agreed that Prospect's strengths fit perfectly into our long-term vision of revolutionizing immersive collaboration for teams.
As evident by massive investments by companies like Facebook and Apple, technologies like VR and AR aren’t just a novelty, but indeed the future of how we communicate, learn, play, and work together—all adding $1.5 trillion to our global economy over the next 10 years. The Wild is now positioned as a market leader to blaze the trail of what work will be like.
With this acquisition, The Wild will serve customers in architecture (Perkins + Will, KPF, Interior Architects, Leo A Daly), engineering (PAE Engineers, Thornton Tomasetti, Black & Veatch), construction (Mortenson, Gilbane), real estate, and enterprise (ZoomCare, Verizon).
