Sphere has developed augmented-reality (AR) software that helps employees collaborate more effectively.
Compatible with leading augmented- and virtual-reality devices like the Meta Quest 3 and Apple Vision Pro, and used by prominent customers like Pfizer, Volkswagen, and Micron, this software enables users to work together virtually as if they’re in the same physical space.
Remote work — at least in hybrid form — is here to stay. But current solutions for collaborating with remote employees often force a harsh trade-off: either absorb high costs and travel time to insist on in-person meetings, or settle for the limitations of video-conferencing tools.
Right now, the solutions aren’t working. Sixty-seven percent of executives consider virtual meetings to be a failure. And fifty-five percent of employees in remote meetings typically write or respond to emails instead of pay attention. Reports show that an estimated thirty-seven billion dollars is lost each year due to inefficient meetings.
These drawbacks mean there is a need for Sphere and its technology. Here’s how it works:
Sphere delivers purpose-built enterprise extended-reality (XR) deployments. XR is an umbrella term that encompasses VR, AR, and mixed reality (MR). It creates powerful network effects by acting as a virtual hub where users can collaborate and share ideas.
The software itself offers benefits depending on what a user is looking for. For example:
Spatial — Holographic objects recognize and interact with the real-world, enabling users to grasp ideas faster and accomplish more intuitive interactions.
Multi-User — The software supports collaboration between two or more users, enabling group projects to develop faster and more efficiently.
Knowledge hub — Data can be easily uploaded and content easily manipulated to keep ideas moving forward. The addition of Artificial Intelligence (AI) enables users to harness deep insights regarding their projects.
Network effects — This is the idea that a tool becomes more valuable the more people use it. Sphere offers cross-company support to streamline communication and collaboration.
Using Sphere, companies can do things like look at equipment to trigger maintenance workflows without manual processes. They can also expedite design reviews and provide real-time responses to questions.
There's also Sphere's use of AI, which until recently has been restricted to text-based interfaces. Sphere is offering a multi-model, context-dependent input system to AI.
Its software provides AI with contextual understanding of a user's physical environment, which leads to new applications — in other words, XR behaves as the "body" and AI as the "brain."
Micron (Nasdaq: MU), a semiconductor-manufacturing company, used Sphere to increase its machine availability and reduce costs by as much as ten percent that were normally attributed to re-working ideas and projects.
To generate revenue, Sphere operates under a software-as-a-service (SaaS) business model. Each customer pays a usage fee per user per month. Sphere generates additional revenue from premium services and referrals through its Device Partner Program.
Sphere has raised eight million dollars from investors. And more than forty business use Sphere’s software. The company generated $1.4 million in revenue in 2023 and is on track for ninety-three-percent revenue growth in 2024.