AppliedVR

AppliedVR offers RelieVRx (formerly EaseVRx), a VR-based eight-week therapeutic treatment program that is backed by scientific research to reduce chronic pains. It takes into consideration biological, social, and psychological factors in its immersive experiences, and promotes neuroplasticity for lasting positive patient outcomes.

The experiences include guided relaxation methods, education, mindful escapes, pain distractions, dynamic breathing, and features such as hands-free gaze-based controls, pre-installed sequential multi-modal content, and accessibility features for those with limited mobility.  The company claims that its RelieVRx program is the first FDA-authorized in-home VR treatment clinically proven to significantly reduce chronic low back pain (CLBP). In May 2024, the company offered RelieVRx to injured workers, helping them return back to work.

As of January 2024, the company is expecting approval to expand into other clinical areas such as fibromyalgia, post surgical pain from total knee replacement, cancer related anxiety and rheumatoid arthritis. 

The company also offers the required hardware components and platform support. The program had been used by ~60,000 patients in 1,500+ homes and 240+ hospitals across 10 countries, as of January 2024.

Key customers and partnerships

Its customers include the National Cancer Institute, Cleveland Clinic, Cedars Sinai, and Hoag. 

Funding and financials

In November 2021, AppliedVR raised USD 36 million in a Series B funding round from F-Prime Capital, JAZZ Venture Partners, Sway Ventures, and SVB Ventures. The round came within a year of its USD 29 million Series A in March 2021. The fresh funds were raised to support its plans for additional payer pilots, build out its product pipeline and its VR pharmacy platform, and conduct more clinical research.