VRAI, a simulation data company, have announced they will open their first US office in Orlando, Florida having raised a $5m (€4.7m) investment round to fund their US growth.
The company which has offices in Newcastle, UK, is headquartered in Dublin and expanded into the UK in 2020.
It is now looking to grow its presence in the US over the next three years.
VRAI plans to double its overall employee headcount from 25 to 50 and triple annual revenues from €5m to €15m over the next three years.
They will be creating up to 10 high value jobs in their first year in Orlando, including BD & sales, customer solutions engineers, data engineers and software developers, as well as relocating some senior leadership to show their commitment to the market.
VRAI is seen as one of the niche leaders in the simulation data space in Europe, and is now looking to bring its technologies to the US market.
VRAI provides human performance data products for simulation training in aerospace, defence, security and offshore renewable industries.
VRAI CEO Pat O’Connor said: “We believe that the insights we can deliver from human performance data can transform how simulation is delivered, and ultimately how people are trained.
“Orlando is the best place we could invest to make that happen, as the global hub for simulation.
“We are excited to be investing $5m in our US Office, we look forward to bringing our niche leading technology here, creating high value jobs and scaling our operations in the US from Orlando.”
Consul General of Ireland in Miami, Sarah Kavanagh, added: “We are thrilled to see this significant investment in Florida by VRAI. Ireland and Florida are both leaders in innovation and share an important bilateral investment and trade relationship.
“Currently, Irish companies employ 15,700 people across a range of industries all across the great state of Florida, and the Consulate will continue to support and grow that important investment.”
Orlando is the global hub for simulation and training with the National Centre for Simulation based there.
This centre sees simulation end users such as the US Army, Air Force and Navy, industry and research community working together on over $6bn (€5.7bn) worth of contracts annually.
VRAI have been a member of the centre since 2017.
VRAIs initial office will be located in Research Park, next to the University of Central Florida and in the heart of global hub of simulation end users, companies and research community.
VRAI's first three local contractors are all US military Veterans with decades of experience in simulation.
In addition to Orlando being the global hub for simulation, Florida is the 16th largest global economy in its own right worth $1.2tn annually.
It is ranked as the No 1 state in the US for entrepreneurship and No 1 for attracting talent.
Commenting on VRAI’s potential in the US market, Carol Ann Logue, Director, Innovation Districts Programs & Operations, University of Central Florida, said: “VRAI is a perfect example of who we want to bring to Central Florida through the Soft Landing Program as they have a significant track record of success already and has the potential to become a major company in our region too.
“Their technology can improve the data coming from simulations and we’re looking forward to being a part of their expansion into this market.”
Irish electrical and electronic equipment exports to the US were worth $1.1bn (€1bn) in 2023 and there are currently over 900 Irish owned companies exporting to the United States.
Ireland is now the 6th largest source of foreign direct investment into the US, with the value of investment by Irish companies worth $322bn (€307) in 2023.
Photo: Pat O'Connor, Co founder & CEO VRAI, State Representative of Florida House of Representatives, David Smith, Mr Brian Cotton of US Senator Rick Scott's Office, Irish Consul General to Florida Ms Sara Kavanagh, Head of US East Coast for Enterprise Ireland, Mr Rory Power
