AppliedVR has raised $68.7M in funding to date. Here are the top-line bullets you need to know.
AppliedVR, a virtual reality-based therapeutics platform addressing chronic pain, has raised $36M in a Series B. This round drew participation from F-Prime Capital, Jazz Venture Partners, and SVB Capital, among others.
How’s the company performing?
- California-based AppliedVR offers virtual reality-based treatments that help patients manage chronic pain.
- The company’s flagship solution, EaseVRx, is designed to address treatment-resistant fibromyalgia and chronic intractable lower back pain. EaseVRx was recently designated as a virtual reality prescription therapy by the FDA.
- Applied VR has catered to over 200 health institutions and more than 60K patients to date.
- The company collaborates with organizations such as Cleveland Clinic, UCSF, Children’s Hospital Los Angeles, and Boston’s Children Hospital, among others.
Why does the market matter?
- The virtual reality in healthcare market is projected to grow at a CAGR of 39.98% and reach a value of $42.8B by 2028, according to Verified Market Research.
- The need to elevate procedural accuracy and precision while lowering costs has contributed to market growth.
- Demand for remote and contactless treatment options has increased amid the pandemic.