AppliedVR, a digital actuality ache administration startup, at this time introduced it has secured $29 million in funding, one thing it goals to make use of in pursuit of FDA approval for its cognitive behavioral therapy-based ache administration tech.
The Sequence A financing spherical contains F-Prime Capital, JAZZ Enterprise Companions, Sway Ventures, GSR Ventures, Magnetic Ventures, and Cedars-Sinai, bringing its whole funds raised so far to $35 million.
Based in 2015 in LA, the corporate can also be hoping to make use of its newest funding spherical to conduct extra payer pilots, develop its product pipeline, and construct out its scientific, advertising and marketing and gross sales groups.
Primarily based on cognitive behavioral therapies and mindfulness coaching, the corporate’s EaseVRx resolution just lately acquired Breakthrough Gadget Designation from the FDA for treatment-resistant fibromyalgia and continual intractable decrease again ache, one thing that’s sometimes handled by prescribing opioids.
“Persistent ache is likely one of the most typical medical situations on the earth, but it nonetheless is extremely debilitating to sufferers, expensive to the system and complicated to deal with,” mentioned Matthew Stoudt, co-founder and CEO of AppliedVR. “Whereas our mission has all the time been to exhibit that VR generally is a highly effective analgesic in any setting, the COVID-19 pandemic has created a surge in demand for digital medicines like VR that may be delivered safely to sufferers in their very own properties.”
AppliedVR has labored with over 200 healthcare supplier organizations throughout the globe, together with Geisinger, Cleveland Clinic, and the College of California at San Francisco (UCSF). The corporate says in a press assertion that its program has been used to assist “greater than 60,000 sufferers to handle their expectations of ache.”
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