July 8, 2021 – Osso VR, a virtual reality (VR) surgical training and assessment platform, has announced that it has secured USD $27 million in Series B funding, led by GSR Ventures, with participation from Signalfire, Kaiser Permanente Ventures, OCA Ventures, Scrum Ventures, Leslie Ventures and Anorak Ventures.
Justin Barad, MD, CEO and Co-Founder of Osso VR, said: “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.”
Osso VR’s surgical training technology provides on-demand, educational experiences that help surgeons reach proficiency with emerging surgical techniques and technologies. The company stated that it experienced rapid growth during 2020 to meet an increased demand in virtual training driven by the pandemic. As part of its recent growth, the company has expanded into additional specialties, including orthopedics, endoscopy, interventional procedures and more. As a result, Osso VR’s surgical training library now offers 120+ modules in 10+ specialties.
“Osso VR is positioned to transform how surgeons are trained on new devices and surgical procedures,” said Dr. Sunny Kumar, a partner at GSR Ventures. “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.”
Osso VR’s platform offers a high level of visual fidelity, so as to ensure that every aspect of surgery, from anatomical detail to the OR environment, is provided to enhance the training experience. Osso VR employs a medical illustration team that is made up of alumni from Industrial Light & Magic, Electronic Arts, Microsoft, and Apple, who are able to create cinema-quality educational experiences at scale, according to the company.
Osso VR added that with nearly 30,000 training sessions completed on its platform, providing an average of 22,000 minutes of training a month, the company’s platform can help to significantly impact surgical performance. In two recent level 1 randomized peer-reviewed studies, surgeons training with Osso VR showed anywhere from a 230 percent to 306 percent improvement in overall surgical performance compared to traditional training. Furthermore, Osso VR enables healthcare professionals to train together in Osso from anywhere in the world through remote collaboration.
Barad continued: “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 democratize 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.”
Last year, Osso VR raised USD $14 million in Series A funding, bringing the company’s total funding in the last year to USD $41 million overall.
For more information on Osso VR and its virtual reality surgical training platform, visit the company’s website.
Image credit: Osso VR
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Sam is the Founder and Managing Editor of Auganix. With a background in research and report writing, he has been covering XR industry news for the past five years.