• Resources
  • Blog
  • Journalists
  • Log In
  • Sign Up
  • Data Privacy
  • Send a Release
Cision PR Newswire: news distribution, targeting and monitoring home
  • News
  • Products
  • Contact

 

When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • All Public Company
      • English-only
      • News Releases Overview

      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
      • Multimedia Gallery Overview

      • Trending Topics

      • All Trending Topics
  • Business & Money
      • Auto & Transportation

      • All Automotive & Transportation
      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • Auto & Transportation Overview

      • View All Auto & Transportation

      • Business Technology

      • All Business Technology
      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • Business Technology Overview

      • View All Business Technology

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Financial Services & Investing

      • All Financial Services & Investing
      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • Financial Services & Investing Overview

      • View All Financial Services & Investing

      • General Business

      • All General Business
      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • General Business Overview

      • View All General Business

  • Science & Tech
      • Consumer Technology

      • All Consumer Technology
      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • Consumer Technology Overview

      • View All Consumer Technology

      • Energy & Natural Resources

      • All Energy
      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • Energy & Natural Resources Overview

      • View All Energy & Natural Resources

      • Environ­ment

      • All Environ­ment
      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • Environ­ment Overview

      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • All Heavy Industry & Manufacturing
      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • Heavy Industry & Manufacturing Overview

      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • All Telecomm­unications
      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • Telecomm­unications Overview

      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • All Consumer Products & Retail
      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • Consumer Products & Retail Overview

      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Health

      • All Health
      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • Health Overview

      • View All Health

      • Sports

      • All Sports
      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • Sports Overview

      • View All Sports

      • Travel

      • All Travel
      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • Travel Overview

      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • All Policy & Public Interest
      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • Policy & Public Interest Overview

      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • All People & Culture
      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • People & Culture Overview

      • View All People & Culture

      • In-Language News

      • Arabic
      • español
      • português
      • Česko
      • Danmark
      • Deutschland
      • España
      • France
      • Italia
      • Nederland
      • Norge
      • Polska
      • Portugal
      • Россия
      • Slovensko
      • Suomi
      • Sverige
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • Sponsored Placement
  • All Products
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • PR Newswire: news distribution, targeting and monitoring
  • Send a Release
    • ALL CONTACT INFO
    • Contact Us

      888-776-0942
      from 8 AM - 10 PM ET

  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
    • Trending Topics
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • All Products
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR

AppliedVR Raises $36 Million Series B To Scale Comprehensive Virtual Reality Platform For Healthcare

Most evidence-based VR platform in healthcare readies for pending FDA decision, payer reimbursement and VR-platform expansion to support more conditions

AppliedVR Logo

News provided by

AppliedVR

Nov 11, 2021, 08:00 ET

Share this article

Share this article


LOS ANGELES, Nov. 11, 2021 /PRNewswire/ -- AppliedVR, a pioneer advancing the next generation of immersive therapeutics, today announced $36 million in series B funding, bringing its total funding to $71 million. The round, which included investments from F-Prime Capital, JAZZ Venture Partners, Sway Ventures and SVB Ventures, set up AppliedVR for rapid growth as it prepares for its decision from the FDA on its first de novo submission.

Continue Reading

Virtual reality provides an immersive experience that has been proven to improve the lives of people experiencing pain. The AppliedVR platform comprehensively addresses multiple pain indicators, leading to people reporting reductions in pain and associated interference of daily life both immediately and for several months after treatment is completed. People suffering from pain follow a science-backed, clinically validated curriculum of immersive VR programming to reduce their pain and help them learn skills for managing pain in the real world.

"Our goal is to make immersive therapeutics accessible to everyone."

Tweet this

"For too long, we've relied on the notion that people need to take pills or rely on surgery to feel better and lead a better quality of life. At AppliedVR, we're building an unparalleled body of evidence for providers and payers to demonstrate that immersive therapeutics can fill the massive unmet need for patients who are frustrated by current treatment paradigms. And, we are starting with chronic pain, one of the most complex, costly conditions," said Matthew Stoudt, co-founder and CEO of AppliedVR. "Our goal is to make immersive therapeutics accessible to everyone, and this funding will help further expand our body of evidence, infrastructure and distribution platform, enabling patients and providers to take advantage of this next-generation therapeutic -- while also bringing down costs for payers."

AppliedVR's flagship product for chronic pain recently became the first virtual reality (VR) prescription therapeutic to receive FDA Breakthrough Device Designation for treatment-resistant fibromyalgia and chronic intractable lower back pain.

"Virtual reality is now a smart, practical and effective therapy for healthcare because of innovations from companies like AppliedVR. As the pandemic demonstrated, the U.S. healthcare system desperately needs more care access through scalable solutions that are available in people's homes, and potent therapeutics delivered with VR are a perfect solution," said Zack Lynch, co-founder and Managing Director of JAZZ Venture Partners. "As the market leader in developing virtual reality-based prescription digital therapies, we are delighted to be backing such an exceptional team at AppliedVR."

Whether used in clinical settings or by patients on themselves at home, AppliedVR is building an unparalleled body of evidence that demonstrates its immersive therapeutics are effective and usable for patients, scalable for providers and viable for payer reimbursement. In February, AppliedVR released results from its pivotal eight-week randomized clinical trial that found the EaseVRx device produced "clinically meaningful" improvement in multiple pain outcomes and had high participant satisfaction and engagement.

The company also just announced results from a peer-reviewed, collaborative research project with S.O.L.V.E. Health Tech, a health equity incubation partner, embedded within the University of California, San Francisco. The research, published in the Journal for Medical of Internet Research (JMIR), studied how VR could be used for pain management in safety-net settings for vulnerable populations like Medicaid patients.

Pain, especially chronic pain, is one of the most complex and expensive health problems to address. Affecting approximately one-third of all Americans1, chronic pain is estimated2 to cost as high as $635 billion each year, making it more expensive than cancer, heart disease and diabetes combined. Additionally, exacerbated by Covid-19, the chronic pain epidemic continues to fuel America's opioid crisis, which has decimated communities and compounded the healthcare cost problem. AppliedVR is currently collaborating with Geisinger and Cleveland Clinic to advance separate NIDA-funding clinical trials that test VR as an opioid-sparing tool for acute and chronic pain.

AppliedVR is already trusted by more than 200 of the world's leading health systems and the technology has been used by more than 60,000 patients to date in pain management and wellness programs. After today's investment, the company will prepare for EaseVRx's full market launch after FDA approval, finish additional payer pilots, build out its product pipeline, conduct more clinical research, and continue building its VR pharmacy platform.

About AppliedVR

Led by co-founders Matthew Stoudt and Josh Sackman, AppliedVR is a leader in immersive therapeutics, pioneering virtual reality-based treatments that address the complexity of pain and other conditions. Rooted in a science-backed, clinically validated program, the company's flagship immersive therapeutic device3 for chronic pain is the first VR-based prescription therapeutic to receive FDA Breakthrough Device Designation. Offering a comprehensive approach that addresses multiple pain indicators, the solution enables patients to change the way they process pain and develop new, positive habits and coping skills that improve quality of life. Founded in 2015, AppliedVR is headquartered in Los Angeles and was recently named a 2021 Fast Company Most Innovative Company. For more information, visit appliedvr.io.

About JAZZ Venture Partners

JAZZ Venture Partners invests in companies that extend the boundaries of human performance — improving how we live, learn, work, play, and experience the world. JAZZ seeks breakthroughs at the frontiers of technology and science, such as advances in artificial intelligence, neurobiology, augmented reality, and closed-loop human-computer systems. JAZZ portfolio companies are unlocking human potential in health, digital medicine, mind-body wellness, accelerated training, sports, entertainment, and the enterprise.

About F-Prime Capital

F-Prime Capital is a global venture capital firm investing in healthcare and technology. For the past 50 years, our independent venture capital group has had the privilege of backing great entrepreneurs building groundbreaking companies. With over two billion dollars under management and a global portfolio of more than 200 companies, we champion those dedicated to creating positive change in the world.

F-Prime is headquartered in Cambridge, MA, with offices in London, UK and San Francisco, CA. For more information, please visit fprimecapital.com and follow us on Twitter and LinkedIn.

Press Contact

Sam Moore
[email protected] 

1  Institute of Medicine. Relieving Pain in America: A Blueprint for Transforming Prevention, Care, Education, and Research. Washington, DC: The National Academies Press; 2011.

2 Darrell J. Gaskin, Patrick Richard. The Economic Costs of Pain in the United States. The Journal of Pain, 2012; 13 (8): 715 DOI: 10.1016/j.jpain.2012.03.009

3 AppliedVR's flagship chronic pain device is an investigational device, limited by federal law for investigational use. AppliedVR is seeking market authorization from the FDA.

SOURCE AppliedVR

Related Links

https://appliedvr.io

Modal title

Also from this source

AppliedVR Wins Q4 Comparably Awards in All Four Categories, Including Best Culture, Best CEO, Best Company for Women, and Best Company for Diversity.

AppliedVR Wins Q4 Comparably Awards in All Four Categories, Including Best Culture, Best CEO, Best Company for Women, and Best Company for Diversity.


AppliedVR Awarded Contract with VHA Innovation Ecosystem, a division of the United States Department of Veterans Affairs

AppliedVR Awarded Contract with VHA Innovation Ecosystem, a division of the United States Department of Veterans Affairs

Explore

More news releases in similar topics

  • Health Care & Hospitals
  • Medical Equipment
  • Medical Pharmaceuticals
  • Computer & Electronics
  • Venture Capital

Contact Cision

  • Cision Distribution 888-776-0942
    from 8 AM - 9 PM ET

  • Chat with an Expert
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices

Products

  • Cision Communication Cloud®
  • For Marketers
  • For Public Relations
  • For IR & Compliance
  • For Agency
  • For Small Business
  • All Products

About

  • About PR Newswire
  • About Cision
  • Become a Publishing Partner
  • Become a Channel Partner
  • Careers
  • COVID-19 Resources
  • Accessibility Statement
  • Asia
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Israel
  • Italy
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United Kingdom

My Services

  • All New Releases
  • Online Member Center
  • ProfNet

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2023 Cision US Inc.