AppliedVR, a digital medicine company, has raised $29 million in series A funding.
The round includes key investors F-Prime Capital, JAZZ Venture Partners, Sway Ventures, GSR Ventures, Magnetic Ventures and Cedars-Sinai.
AppliedVR, which provides virtual reality-based treatments aimed at treating chronic pain, raised $35 million to date.
The company’s EaseVRx solution recently became the first virtual reality (VR) prescription therapeutic to receive Breakthrough Device Designation from the FDA for treatment-resistant fibromyalgia and chronic intractable lower back pain.
AppliedVR’s technology is already used by more than 200 of the top healthcare provider organizations in the world, including Geisinger and Cleveland Clinic, who are advancing NIDA-funding clinical trials to study VR as an opioid-sparing tool for acute and chronic pain.
AppliedVR’s program has been used to help more than 60,000 patients to manage their expectations of pain.
The US-based digital medicine company said it plans to continue EaseVRx’s FDA approval pathway, conduct more payer pilots, develop its product pipeline, and build out its clinical, marketing and sales teams.