Virtualware
Virtualware is a Spain-based, Euronext Growth-listed (ALVIR) provider of the VIROO enterprise XR platform, delivering multi-user VR training, simulation, and Simumatik-powered digital twin solutions to enterprise and government clients in energy, defense, healthcare, education, manufacturing, and transportation.
- Company typePublic
- Founded2007
- HeadquartersBasauri, Spain
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What Virtualware does
Virtualware 2007 S.A. is a Spain-based, publicly listed (Euronext Growth Paris: ALVIR) provider of enterprise extended reality (XR) software built around its VIROO platform. The platform is structured in three layers — APPS (pre-built XR applications), CORE (infrastructure and services), and PLAYERS (multi-user session executables) — and supports deployment on AWS, private cloud, or on-premise infrastructure. It is complemented by VIROO Studio (a Unity-based SDK for authoring multi-user XR content), VIROO Cloud (remote rendering), VIROO Academy (training), and the Simumatik digital twin platform acquired in 2024, which enables virtual commissioning and virtual retrofitting at 1:1 scale for manufacturing customers. The platform integrates with HTC VIVE (VIVERSE Polygon Streaming), Igloo Vision, Unity, and PICO hardware.
The company sells to large enterprise and government clients in energy, defense, healthcare, education, manufacturing, automotive, and railway infrastructure, with named customers including GE Vernova, NATO, the Spanish Ministries of Defense and Education, ADIF, PETRONAS, Iberdrola, Repsol, Volvo, SEAT, Bosch, ALSTOM, Mount Sinai Hospital, Kessler Foundation, and McMaster University. Go-to-market is predominantly direct enterprise field sales, supplemented by regional channel partners (Xplorient in the UK, LASTING System in Romania, GE21 in Brazil) and reseller arrangements. Virtualware transitioned from one-time licensing to a recurring subscription model in 2021, and most large contracts (e.g., the €5M, six-year Spain Ministry of Education deal; the multi-year ADIF relationship) are structured as multi-year subscriptions or enterprise licenses with professional services attached.
Revenue was €4.32M in FY2025 with management guiding to ~€5.7M for FY2026 (~30% growth) and analyst projections reaching €8.4M by 2028. FY2025 bookings exceeded €8M, and Q1 2026 bookings of ~€2.5M imply an annualized run-rate above €10M. The company holds ISO/IEC 27001:2022, ISO 9001, TISAX AL3, and ENS certifications that enable it to bid on security-sensitive enterprise and government work. Headcount is 50+ professionals across engineering, development, design, and technology, with offices in Basauri (Spain, HQ), Hamilton (Canada), Orlando (USA), and Skövde (Sweden). North America accounts for 40% of 2025 revenue.
Virtualware firmographics
Firmographics- Name
- Virtualware
- Legal name
- Virtualware 2007 S.A.
- Website
- https://virtualwareco.com
- Company type
- Public
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Virtualware is a Spain-based, Euronext Growth-listed (ALVIR) provider of the VIROO enterprise XR platform, delivering multi-user VR training, simulation, and Simumatik-powered digital twin solutions to enterprise and government clients in energy, defense, healthcare, education, manufacturing, and transportation.
- Ownership category
- akta.pro rank
Virtualware industry classification
Industry- Product category
- Enterprise XR/VR Training Software
- NAICS
- Software Publishers (5132), Custom Computer Programming Services (541511), Computer Systems Design Services (541512)
- SIC
- Services-Prepackaged Software (7372), Services-Computer Integrated Systems Design (7373), Services-Computer Programming Services (7371)
- akta.pro primary industry
- XR/AR/VR/MR Development Frameworks & Toolchains (MPAFAFAF)
- akta.pro secondary industry
- Creator Tools & Content Pipelines for Immersive Learning (VR lesson builders, 3D asset workflows) (EDAFAJAL)
Keywords
Where Virtualware is headquartered
LocationHeadquarters
- HQ city
- Basauri
- HQ country
- Spain
- HQ region
- Europe
Offices4 records
Markets served
Virtualware business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- VIROO Platform Subscriptions: Recurring subscription model implemented since 2021. Enterprise clients pay recurring fees for platform access, content deployment, and multi-user session capabilities.
- Government and Public Sector Contracts: Contracts with government entities including ADIF (railway training), Spanish Ministry of Education (vocational training centers), and defense sector. Multi-year contract structures.
- Professional Services: Custom XR content creation, deployment services, and training solutions for enterprise clients. Content generation services bundled with platform subscriptions.
- Enterprise Software Licenses: Simumatik digital twin platform integrated into VIROO offering, providing simulation capabilities for manufacturing and industrial applications.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Enterprise subscription tiers with varying levels of features and deployment capacity |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels7 records
Virtualware product offering
Product offeringCore offering
Virtualware develops and sells VIROO, an enterprise XR (extended reality) platform that delivers industrial VR training, multi-user simulation sessions, and digital-twin environments to large organizations. The platform combines pre-built XR applications, cloud or on-premise deployment infrastructure, and a Unity-based SDK (VIROO Studio) for custom content creation, and is complemented by Simumatik, an industrial digital-twin and virtual-commissioning platform acquired in 2024. Customers include enterprises and government agencies in energy, defense, healthcare, education, manufacturing, and transportation, who license the platform on a recurring subscription basis alongside professional services.
Product overview
Virtualware offers VIROO, a unified enterprise XR platform combining three integrated layers: APPS (pre-built XR applications for various industries), CORE (infrastructure services enabling seamless operation), and PLAYERS (executables for multi-user XR sessions). The platform is complemented by VIROO Studio (a Unity-based SDK for custom content creation), VIROO Cloud (cloud deployment infrastructure), and VIROO Academy (training resources). In 2024, Virtualware acquired Simumatik, an industrial simulation platform for digital twins and virtual commissioning, which integrates with VIROO to enable manufacturing companies to deploy 1:1 scale digital twin simulations in VR environments. The company operates on a recurring subscription model and serves sectors including energy, defense, healthcare, education, manufacturing, and transportation.
Differentiator
Problem solved
Functional benefit
Brands
- VIROO: Enterprise XR platform providing industrial VR training, simulation, and digital-twin environments across energy, defence, healthcare, education, and manufacturing sectors
- Simumatik
- VIROO Studio
- VIROO Cloud
- VIROO Academy
Products and services
- VIROO Platform Enterprise XR platform providing industrial VR training, simulation, and digital-twin environments. Features three integrated layers: APPS (pre-built XR applications), CORE (services and infrastructure), and PLAYERS (executables for multi-user XR sessions). Supports deployment on AWS, existing cloud, or on-premise infrastructure and is sold to enterprise and government clients on a recurring subscription.
- VIROO Studio
Quantifiable outcome
- Q1 2026 bookings reached approximately €2.5 million, implying annualized run-rate above €10 million
- +5 more outcomes
Companies that use Virtualware
Customer profileNamed customers20 records
Segments7 records
Ideal customer profiles3 records
Virtualware technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
AI capability2 records
Feature9 records
Virtualware partnerships and signals
Strategic signalPartnerships
17 partnerships are on record, tiered minor, core and regional.
- Lethbridge Polytechnic START CentreminorSpatial Technologies Applied Research and Training (START) Centre partnership for XR development using VIROO platform. Tyler Heaton, industry liaison at START, leads collaboration to demonstrate new XR applications across industry sectors.
- ADIFcoreSpanish public entity managing national railway network. Four-year ongoing contract for Railway Infrastructure Training Simulator (RITS) with €800,000 extension. VR solution deployed at Valencia Technology Training Centre and remote sites, training 1,000 workers annually in railway operations and maintenance.
- UNC Greensboro (SISC)minorSelected as one of three US universities to receive 2025 university grant from Virtualware and HTC VIVE for Spartan Immersive Systems Collaboratory (SISC). Regional industry and government partners will have free access to immersive infrastructure for research and workforce development.
- Spain's Ministry of Educationcore€5 million contract to deploy VIROO platform across 66 new vocational training centers over six years. Largest contract in company history, bringing total vocational training centers using VIROO to more than 91.
- HTC VIVEcoreIntegration of VIROO with VIVERSE Polygon Streaming technology announced at I/ITSEC 2024. Combined immersive experiences for enterprise XR deployments.
- XplorientregionalLondon-based startup partner to expand VIROO presence in UK market. Strategic collaboration for UK market penetration.
- MASTER XR ConsortiumcoreEU Horizon-funded project (2023-2026) developing Open XR platform for human-robot collaboration and factory floor worker training. Partners include: Panepistimio Patron (Greece), Tekniker (Spain), DFKI (Germany), Teaching Factory Competence Center (Greece), ALECOP (Spain), ESCI (Germany). Platform built on VIROO with virtual safety zones, code-free robot programming, and gaze-based interaction tools.
- LCAMP ConsortiumminorEU-funded project (2022-2027) for Learner-Centered Advanced Manufacturing Platform for Centers of Professional Excellence (CoVEs). Supports regional CoVEs in advanced manufacturing for digital and green transitions.
- UnitycoreVIROO built on Unity 3D engine. Presented together at AI Week Italy alongside One Team. Joint demonstration of industrial XR workflows with Unity Industrial Solutions.
- Ohio University Digital Enterprise CollaboratoryminorLandmark VR collaboration linking four physical sites across US, Spain, and Canada in potentially first synchronized multi-location VR demonstration. Real-time BIM/CAD design review, virtual commissioning with Simumatik digital twins, and mixed reality for workforce training in high-tech manufacturing.
- GE21 Realidade VirtualregionalBrazilian partner for introducing VIROO in Brazil market. Strategic collaboration for Latin American market expansion.
- LASTING SystemregionalRomanian partner showcasing VIROO at Black Sea Defense, Aerospace and Security (BSDA) exhibition. Regional defense sector partnership.
- SimumatikcoreAcquired in 2024. Industrial simulation platform enabling virtual commissioning and retrofiting for manufacturing companies. Integration with VIROO enables digital twin deployment in VR environments at 1:1 scale for collaboration sessions.
- Igloo VisioncoreStrategic alliance to combine shared immersive spaces with VIROO XR platform. Enables creation and deployment of immersive experiences at scale.
- CDW and LenovominorContributing space, servers, and PC configurations to UNC Greensboro SISC initiative alongside Virtualware and HTC VIVE.
- Invest Windsor EssexminorPartnership for Battery Boost program in Canada, bringing VIROO to electric vehicle battery manufacturing workforce training in Windsor-Essex region.
- AutodeskminorVirtualware joined Autodesk Technology Centers Residency Program at Toronto location for technology collaboration and innovation.
Scale indicators14 records
Recent moves7 records
Expansion highlights6 records
Virtualware competitors and assessment
Company assessmentDirect peers
- Strivr: US-based enterprise VR training platform serving large employers in retail, sports, and financial services. Closely comparable to Virtualware's VIROO as an enterprise VR training and simulation platform sold via enterprise subscriptions.
- Talespin: Enterprise XR platform offering immersive learning, soft-skills simulation, and spatial computing tools. Directly comparable to VIROO in targeting enterprise workforce training with subscription software and content services.
- PIXO VR: Enterprise XR solutions provider focused on immersive training and operational visualization for large organizations. Comparable in business model (enterprise software + services) and target verticals (manufacturing, energy, defense).
- Interplay Learning: VR training platform focused on skilled trades and vocational education. Comparable to Virtualware's education vertical offering (91+ vocational centers) in delivering immersive training via a subscription platform.
- Immerse: Enterprise VR platform for language, soft-skills, and operational training with multi-user capabilities. Comparable to VIROO's multi-user XR sessions and recurring subscription model for enterprise learning.
- Mursion: VR simulation platform for workforce soft-skills training with AI-driven avatars. Comparable as an enterprise subscription XR simulation platform sold to large organizations across regulated and high-stakes verticals.
- Spatial: Collaborative XR/metaverse platform for enterprise meetings, design review, and training. Comparable to VIROO's multi-user collaboration features and device-agnostic approach across headsets.
Broad incumbents
- RealWear: Industrial AR hardware and assisted-reality platform for frontline workers. Comparable through overlapping industrial customer base and connected-worker workflows, though Virtualware is software-focused and device-agnostic.
- Siemens Digital Industries (Xcelerator / NX Immersive): Industrial software incumbent with digital-twin (Teamcenter, NX) and immersive engineering offerings. Comparable through Simumatik-style virtual commissioning use cases and shared manufacturing customers.
- PTC (Vuforia): Industrial software vendor offering AR (Vuforia) and digital-twin capabilities to manufacturers. Comparable to Virtualware's industrial XR and digital-twin proposition, with a much broader enterprise software portfolio.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Virtualware social profiles
Digital presenceVirtualware compliance and trust
Trust signalCompliance5 records
Virtualware financial estimates
Financial estimateRevenue estimate
Valuation estimate
Virtualware leadership team
Management profileNumber of profiles
Profiles2 records
Virtualware subsidiaries and ownership
Company hierarchySubsidiaries1 record
Virtualware funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Virtualware M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Virtualware
What does Virtualware do?
Virtualware develops and sells VIROO, an enterprise XR (extended reality) platform that delivers industrial VR training, multi-user simulation sessions, and digital-twin environments to large organizations. The platform combines pre-built XR applications, cloud or on-premise deployment infrastructure, and a Unity-based SDK (VIROO Studio) for custom content creation, and is complemented by Simumatik, an industrial digital-twin and virtual-commissioning platform acquired in 2024. Customers include enterprises and government agencies in energy, defense, healthcare, education, manufacturing, and transportation, who license the platform on a recurring subscription basis alongside professional services.
Is Virtualware a public or private company?
Virtualware is a public company. It is classified as public and is currently operating.
When was Virtualware founded?
Virtualware was founded in 2007. It employs 51 to 100 people.
Where is Virtualware based?
Virtualware is headquartered in Basauri, Spain, in the Europe region.
How does Virtualware make money?
Four revenue lines are on record. VIROO Platform Subscriptions are the primary driver. The others are government and Public Sector Contracts, professional Services and enterprise Software Licenses.
Who are Virtualware's main competitors?
Direct peers on record are Strivr, Talespin, PIXO VR, Interplay Learning, Immerse, Mursion and Spatial. Broad incumbents are RealWear, Siemens Digital Industries (Xcelerator / NX Immersive) and PTC (Vuforia).
Does Virtualware have an API?
No public API is recorded for Virtualware.
What industry is Virtualware in?
Virtualware's product category is Enterprise XR/VR Training Software. Its primary akta.pro industry code is MPAFAFAF, XR/AR/VR/MR Development Frameworks & Toolchains, with a secondary code of EDAFAJAL, Creator Tools & Content Pipelines for Immersive Learning (VR lesson builders, 3D asset workflows). Its NAICS code is 5132 and its SIC code is 7372.