San Francisco, California-based Osso VR, a virtual reality (VR) surgical training platform, has raised $66 million in a successful Series C funding round.
Osso VR creates on-demand training modules that train surgeons in a virtual environment. Currently OSSO’s modules address orthopedics, spine, interventional cardiology, and general surgery.
With the new funding, Osso VR plans to grow its team and expand its modules into additional specialties with a particular focus on delivering accessible surgical education to all healthcare professionals.
The company’s CEO and Co-Founder Justin Barad, M.D. is a UCLA and Harvard trained orthopedic surgeon. Dr. Barad told OTW, “We are so unbelievably excited about the new funding and our incredible new partners at Oak HC/FT and Tiger Global. We also are grateful for the continued support from GSR Ventures, Signalfire and Kaiser Permanente Ventures. We plan on using the funding to expand the team so that we can address a broader range of survival procedures, generate more clinical data and increase access to our VR surgical training and assessment platform. Our ultimate goal is to reach all 1.1 million surgeons around the world to improve the outcome of the 310 million surgical cases performed annually.”
Surgeons at leading global medical device companies have already employed Osso VR’s surgical training modules. Johnson & Johnson, Stryker Corporation, Zimmer Biomet, and Smith & Nephew all utilize Osso VR’s platform.
Dr. Barad also explained, “This round of investment supports the next step of our journey to provide access to all healthcare professionals. I couldn’t be more excited to take this next step with such a talented, passionate team.”
Osso VR’s current has 150 employees and with the new funding, over the next 12 months, “plans to grow exponentially.”
Oak HC/FT, a venture and growth equity firm based in Greenwich, Connecticut, led the funding round. Signalfire, GSR Ventures, Tiger Global Management, and Kaiser Permanente Ventures also participated in the funding round.
Oak HC/FT Partner Vig Chandramouli expressed excitement about working with Osso VR. Chandramouli stated, in part, “Osso VR is well positioned to become the gold standard for all surgical training and continuing education, and we’re thrilled to work alongside this impassioned and committed team.”
