Osso VR’s investors have multiple reasons to begin or continue backing the company
➨ The series B round featured Signalfire, Kaiser Permanente Ventures, OCA Ventures, Scrum Ventures, Leslie Ventures and Anorak Ventures
➨ Nearly 30,000 training sessions have been completed using Osso VR’s solution, providing an average of 22,000 minutes of training a month
➨ The company will use the new funding to ‘exponentially expand’ its library and solution
Osso VR, the healthcare-focused virtual reality training provider, has raised $27 million in new funding, after achieving a series of impressive milestones that signal a bright future for the company and this use case in this space.
The series B round, with participation from Signalfire, Kaiser Permanente Ventures, OCA Ventures, Scrum Ventures, Leslie Ventures and Anorak Ventures, takes Osso VR’s total raised to more than $40 million.
Aimed at medical device companies and practicing surgeons of all skill levels, Osso VR uses “cinema quality” virtual reality to deliver a realistic, hands-on training environment and on-demand, educational experiences. It also provides assessment in training modules that objectively measure the trainee’s knowledge of steps, level of accuracy and overall efficiency throughout a procedure.
Osso VR’s investors have multiple reasons to begin or continue backing the company.
Nearly 30,000 training sessions have been completed using Osso VR’s solution, providing an average of 22,000 minutes of training a month. Among the organisations using it are all of the top five orthopedic medical device companies and 20+ global hospital residency programmes.
It is also in use across 20+ countries and available in multiple languages including English, Japanese, Spanish, German and French.
Clients include Johnson & Johnson, Stryker, and Smith & Nephew, as well as Brown University, Hospital for Special Surgery, Johns Hopkins University, and Rush University.
A key reason for its success is the solution’s high level of visual fidelity, which ensures that every aspect of surgery, from anatomical detail to the operating room environment, enhances the training experience, according to Osso VR.
The company employs a large medical illustration team and alums from Industrial Light & Magic, Electronic Arts, Microsoft, and Apple, to deliver this level of visual fidelity.
Dr Sunny Kumar, a partner at investor GSR Ventures, comments: “Osso VR is positioned to transform how surgeons are trained on new devices and surgical procedures. The Osso platform’s level of immersion provides an experience that mirrors the operating room in a manner more efficient, more accessible, and more effective than any surgical training platform that’s come before.”
Every patient in the world
Justin Barad MD, chief executive officer and co-founder of Osso VR, says: “Osso VR has been on an incredible journey. We have built a once-in-a-lifetime team, bringing together experts from healthcare, technology, movies and gaming to pursue our mission: improve patient outcomes, accelerate the adoption of more-effective surgical technologies and democratise access to education.”
“After proving the clinical effectiveness of the platform and its unique ability to scale up to the millions of providers around the world, we are ready to accelerate. With this latest round, we plan to exponentially expand our library and platform so that every patient in the world can have the peace of mind knowing they are getting access to the safest, highest-value procedures.”
Images: Osso VR