XRHealth (formerly VRHealth), a virtual reality telehealth clinic, raised $7 million in funding from Bridges Israel, Flint Capital, and 20/20 HealthCare Partners. The company plans to use the new funds to expand its VR-enabled telehealth platform to support more clinicians and patients for virtual/augmented reality therapy.
Last year XRHealth opened up its platform to third-party developers. Within the past couple of months, the company launched its first VR telehealth clinic.
XRHealth virtual reality clinics provide remote care to patients throughout the United States. Its clinics are covered by major health insurance companies as well as Medicare. The unique feature of its VR therapy is virtual support groups, where patients with similar ailments can connect anonymously and remotely with physicians moderating the group.
XRHealth offers telehealth service for several conditions, including anxiety, chronic pain, fibromyalgia, substance abuse, post-stroke rehabilitation, brain injury, multiple sclerosis, breast cancer, and menopause. Its service will allow patients to do virtual reality rehabilitation therapy in the comfort of their homes.
“Telehealth has emerged on the medical scene as a crucial medium of care for patients throughout the world,” says Eran Orr, CEO of XRHealth. “Virtual and augmented reality technologies offer a unique platform for patients to be treated since they are immersed in a world that is designed completely to help them heal. We have taken this a step further by adding support groups and virtual clinics so that anyone can receive the care they need, no matter where they are.”
Founded in 2016, XRHealth has raised $15 million to date, including a $4 million seed round in 2018. It works with U.S. healthcare providers, hospitals, and rehabilitation centers.
Thirty-five telehealth companies raised $930 million in Q1 2020 compared to the $216 million Q4 2019, according to Mercom Q1 2020 Digital Health Funding Report. In a similar deal last year, Karuna Labs, which creates personalized chronic pain management programs using Virtual Reality (VR) technology, raised $3 million in Seed funding, which was led by Baseline Ventures.