EnvisionVR rebrands to Enviz, lands $1.5 million in new funding

Australian proptech startup EnvisionVR has announced a rebrand to ‘Enviz’ to coincide with a $1.5 million capital raise at an undisclosed valuation.

The latest cash injection comes from a “mix” of investors, including Michael and Henry Holm of Balmain Private. The funding will go towards the rebranding, market expansion, and automation of its product offering.

This move is part of the company’s strategy to expand its global footprint and enhance its virtual property experiences, which are aimed at radically improving buyer engagement.

Enviz utilises augmented reality (AR) and virtual reality (VR) to offer a virtual property experience that enables users to explore unbuilt properties on a real scale as if in a physical space.

The platform integrates virtual property tours, floorplans, and digital assets with stock management and CRM tools.

It’s designed for use by property developers, sales agents, and buyers, and is accessible via VR headsets, mobile apps, or web browsers, facilitating both on-site and remote interactions in real-time.

“Part of our mission is to give people certainty in their future space,” Enviz CEO, Michael Shaw, said.

“Through automation, we have been focusing on reducing the barriers of using the platform and we now feel confident in the spread and uptake of our product.”

Shaw also emphasised the significance of the rebranding beyond a mere name change.

“This is not just a simple name and branding change,” Shaw said.

“Many would focus on the ‘VR’ part of our previous name and think we were only a virtual reality company. Even though the VR experience is by far our most immersive experience, it is only a small part of our solution.”

The new name, Enviz, pays homage to its original identity as EnvisionVR and aligns with the Architectural Visualisation (Arch Viz) industry standards.

Despite the extensive rebrand, Shaw assures stakeholders that the core direction of Enviz remains unchanged, though it has significantly progressed in both products and technology.

“Often, a rebrand suggests a change in the direction of a company; however, the overall direction of the business has stayed the same but is now a lot more progressed with their products and technology,” Shaw said.

At the present time, there is no hard timeline on when Enviz will push globally. However, it did confirm with SmartCompany that the US will be a key market.