OxfordVR and BehaVR announce merger supported by $13m Series B funding

By Sam Pither

15 December 2022

Share

The Business Magazine article image for: OxfordVR and BehaVR announce merger supported by $13m Series B funding

iStock

OxfordVR and BehaVR, two companies using VR to tackle mental and behavioural health problems, have announced they are merging, supported by an initial $13 million Series B funding round led by Oxford Science Enterprises and Optum Ventures, with participation from Confluent Health, Accenture Ventures, Chrysalis Ventures and Thornton Capital.

Together, the two companies hold the largest VR digital behavioural therapy platform, with their merger accelerating the growth of both.

Utilising real-time bioetrics, protocols and machine learning, BehaVR’s platform will treat anxiety, stress, pain and addiction, while OxfordVR, which recently received FDA approval in the US for its gameChange product, will provide automated cognitive-behavioural VR therapy. Both can be delivered by a variety of clinical staff, peer group members and at home.

The combined company will be led by BehaVR Founder and CEO Aaron Gani. Gani's leadership team will include psychiatrist, researcher and author Dr. Daniel Freeman, PhD.

Aaron Gani said: "The demand for mental health services far outstrips available resources. Providers need help, and that help is available today through our clinically-validated and evidence-based digital programs.

"In bringing together two innovative virtual reality therapeutics teams, we are positioned to serve the widest range of patient populations possible at a time of intense need."

Deepak Gopalakrishna, CEO of OxfordVR, said: "What an exciting time for digital innovation in mental health.

"The combination of BehaVR and OxfordVR brings together two organizations leading work in virtual therapeutics to bring evidence-based, clinically validated treatments to patients."

By Sam Pither

Sam is the Regional Editor of Biz News, responsible for both Hampshire and Dorset.

A new recruit to journalism, Sam started writing for the Business Magazine as a freelancer in May of 2022 after completing his degree in English at University College London. His passion for local businesses and ability to tell a story soon caught the attention of the publication’s management team and have led to his meteoric rise.

Sam, who lives in central Reading, takes a particular interest in technology, gaming and food and drink, having been a chef before starting his degree.