Virtualware is the European pioneer in the Industrial Virtual Reality space.

Founded in 2004 by geniuses Unai Extremo and Sergio Barrera, the company has become synonym with industrial VR. Today, almost 20 years later and offices in Bilbao (Spain) and Hamilton (Canada), its 50-people strong team develops the most sophisticated simulations for the nuclear, defence, education or health industries.

And it is truly one step ahead in the future.

In October 2021, Pedrosa embarked on a journey with Virtualware, not only a pioneer in the European Virtual Reality industry, but also a company with over 500 projects under its belt spanning 33 countries.

While the initial mandate was to elevate Virtualware's profile from a local to an international presence, we quickly were given an expanded role, acting as an IPO coordinator, leading the entire IPO process, and continuing to manage the investor relations (IR) and financial PR functions post-IPO.

We advised Virtualware’s management and helped put together a team of investment banks, listing sponsors, legal and financial experts, and equity research companies, and crafted a compelling narrative to power the IPO's investor relations and communications materials. Leveraging our experience in the EU market and our partnership with Euronext Corporate Services, we bridged the gap between Virtualware and the financial markets.

A critical part of our strategy was the introduction of the angular concept: "VR for industry". This succinctly communicated Virtualware's unique value proposition - creating industry-specific VR solutions, thus separating it from the noise surrounding the concept of the metaverse. Our campaign ensured that Virtualware was portrayed accurately and innovatively in media and financial circles.

The IPO roadshow was a key aspect of our engagement. Coordinating closely with listing sponsors, we initiated meetings with retail investors to ensure Virtualware's story reached a broad investor base.

During our engagement, Virtualware's media presence skyrocketed. The company was featured in over 1,200 media outlets, including platforms like Bloomberg and the Wall Street Journal. The IPO, which launched at a valuation of 27 million euros, saw the share price jump by 40% within a month.

Throughout the process, we facilitated a clear and effective communication of Virtualware's core business and its VRaaS platform, VIROO. The term "VR as a Service" was conceptualized during this phase, adding another dimension to Virtualware's narrative.

As Unai Extremo, CEO of Virtualware, remarks, "Pedrosa has been instrumental in our IPO journey. Their insights, dedication, and proficiency have helped us to navigate the complex process seamlessly and successfully."

This successful collaboration not only helped us solidify our relationship with Euronext but also bolstered our reputation as a leading actor in the European investor relations landscape.