FIT - XRHealth Secures $9M in Venture Funding from Discount Tech

Funds will Expand Sales & Marketing Initiatives to Bring VR/AR Therapy to Patients Throughout the U.S., AU and Israel

PR Newswire

BOSTON , June 3, 2021 /PRNewswire/ -- XRHealth , the leader in extended reality and therapeutic applications, announces today that they secured $9M in venture funding from Discount Tech. The funds will be used to expand sales & marketing initiatives to bring VR/AR therapy to patients throughout the U.S, AU and Israel .

XRHealth operates state-of-the-art therapeutic care Virtual Clinics, utilizing proprietary FDA and CE registered medical Extended Reality (XR) technology (virtual and augmented reality). XRHealth integrates immersive XR technology, licensed clinicians, and advanced data analytics on one platform, providing a comprehensive therapeutic care solution for patients to receive treatment from the comfort of their home.

"XRHealth's extended reality technology treats patients needing physical therapy, occupational therapy or seeking relief from Parkinson's symptoms, pain, stress & anxiety, and many other conditions, and has proven successful outcomes, " says Eran Orr , Founder & CEO of XRHealth. "The combination of engaging VR/AR games, personal one-on-one video sessions with therapists, and receiving treatment in the comfort of home, creates a pathway for success for patients to complete their therapy and achieve remarkable results."

The XRHealth XR Platform solves many gaps in outpatient care and telehealth delivery. The company provides a HIPAA-compliant XR Platform that collects individual patient real-time quantitative data , enabling extensive patient monitoring. Virtual treatment rooms are engaging, driving patient carryover, and accelerating recovery. Additionally, the customizable applications provide flexibility & enable clinicians to use the XR environment to impact the psychology of the patient. Treatment is location-agnostic, solving supply and demand constraints within local markets and providing a comprehensive solution for at-home remote treatment, and is safe to use in the post-COVID-19 healthcare market.

"We are very excited to take part and support the XRHealth journey in expanding their services globally, and provide them with venture debt backing" says Guy Navon Head of Discount Tech.  "Virtual reality/augmented reality as a platform for telehealth takes medical treatment to a new level and makes therapy accessible to anyone, no matter where they are."

Yuval Gavish , Senior executive vice president, Head of Corporate Banking Division says, "supporting XRHealth's journey is an example of Discount Tech strategy in becoming a significant player for VC backed companies in Israel's high-tech ecosystem."

About XRHealth:
XRHealth operates state-of-the-art therapeutic care Virtual Clinics, utilizing proprietary FDA and CE registered medical Extended Reality (XR) technology (virtual and augmented reality). XRHealth integrates immersive XR technology, licensed clinicians, and advanced data analytics on one platform, providing a comprehensive therapeutic care solution for patients to receive treatment from the comfort of their home. The company offers a variety of patent-pending solutions from rehabilitation services to cognitive assessment and training to pain management. XRHealth works with several world-renowned U.S. healthcare providers, hospitals, and rehabilitation centers. Founded in 2016, XRHealth is headquartered in Boston, Massachusetts and its R&D center is located in Tel-Aviv, Israel . For more information, visit https://www.xr.health/ .

About Discount Tech:
Discount Tech is the High-tech banking arm of Israel Discount Bank. Discount Tech provides dedicated and personalized products to Israel's tech eco-system; including high-tech companies, entrepreneurs and venture capitals.

We support and accompany tech companies on their journey from early-stage to hyper-growth through our dedicated teams, strong network with leading venture capitals and deep understanding of the eco-system.

With a strong presence in the US through our subsidiary bank IDB New York, Discount Group helps their clients benefit from a global outreach.

CONTACT: DeeDee Rudenstein , drudenstein@propelsc.com

SOURCE XRHealth