Osso VR Raises $27M Series B; Pioneering Immersive Surgical Training Worldwide

Platform uniquely marries high fidelity experiences with inspiring, cinematic visuals resulting in evidence-based performance improvement

News provided by

Osso VR

Jul 07, 2021, 08:00 ET

SAN FRANCISCO, July 7, 2021 /PRNewswire/ -- Osso VR, a validated virtual reality (VR) surgical training and assessment platform, today announces it has secured $27M in Series B funding, led by GSR Ventures, with participation from Signalfire, Kaiser Permanente Ventures, OCA Ventures, Scrum Ventures, Leslie Ventures and Anorak Ventures.

Osso VR's surgical training technology provides on-demand, educational experiences that are effective, repeatable and measurable to help surgeons reach proficiency with emerging surgical techniques and technologies. Osso VR experienced rapid growth during 2020 to meet the increased demand in virtual training driven by the pandemic-fueled need for digital training models. Osso VR works with industry leaders like Johnson & Johnson, Stryker, and Smith & Nephew to ensure that patients have safe access to the highest-value procedures. As part of the recent growth, the company recently expanded into additional specialties, including orthopedics, endoscopy, interventional procedures and more. Osso VR is home to the world's largest surgical training library, offering 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 boasts an exceptional level of visual fidelity, ensuring every aspect of surgery, from anatomical detail to the OR environment, enhances the training experience. Osso VR employs the world's largest medical illustration team and alums from Industrial Light & Magic, Electronic Arts, Microsoft, and Apple. This lightning-in-a-bottle of a team is able to create cinema-quality educational experiences at scale, inspiring providers all around the world.

With nearly 30,000 training sessions completed on the platform, providing an average of 22,000 minutes of training a month, Osso VR's platform is proven 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. In addition, Osso VR enables healthcare professionals to train together in Osso from anywhere in the world through Remote Collaboration.

Recent platform milestones include:

Osso VR is widely deployed across 20+ countries
All five of the Top 5 orthopedic medical device companies choose Osso VR as their VR training partner
The platform is available in multiple languages including English, Japanese, Spanish, German and French
20+ global hospital residency programs, including Brown University, Hospital for Special Surgery, Johns Hopkins University, and Rush University, train on Osso VR

"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," said Justin Barad, MD, CEO and Co-Founder of Osso VR. "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."

For more information about Osso VR, visit http://ossovr.com/

About Osso VR
Osso VR is an award-winning, clinically validated surgical training platform designed for medical device companies and practicing surgeons of all skill levels. Using cinema quality VR, the scalable platform offers a realistic, hands-on training environment that leads to real world performance gains and ultimately improved patient outcomes. Osso VR is the first training platform to incorporate assessment into its modules, objectively measuring the trainee's knowledge of steps, level of accuracy and overall efficiency throughout the procedure providing a benchmark for proficiency.

Led by UCLA and Harvard trained orthopedic surgeon Justin Barad, MD, the Osso VR team has a deep background in clinical care, medical technology, and VR development. To learn more, visit http://ossovr.com/

About GSR Ventures
GSR Ventures is an early-stage investor in technology companies developing AI-enabled healthcare technology, enterprise software, and consumer platforms. The GSR team includes founders, physicians and enterprise executives with unmatched industry expertise. Founded in 2004, the firm has more than $3 billion under management. In addition to Osso VR, the GSR's portfolio includes Medable, Deep6 AI, Kinsa, and AppliedVR. For more information, visit http://gsrventuresglobal.com/.

SOURCE Osso VR