How Osso Became One of the Biggest Virtual Reality Companies (Interview)

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Surgical education platform Osso VR recently announced $66 million in funding raised in its Series C funding round.

The startup’s founder and CEO, Dr. Justin Barad, sat down with us in virtual reality to discuss the company’s trajectory and its potential to impact the healthcare industry.

“Technically Osso VR is based in San Francisco, but from day one of that first day in October 2016, we’ve always been fully remote and VR enabled and people thought we were crazy back then, but obviously that’s more of a thing now,” Dr. Barad told us. “So we’ve always been and always will be a fully remote business. end of the year.

The latest funding round was led by Oak HC/FT, but also included participation from Signalfire, GSR Ventures, Tiger Global Management and Kaiser Permanente Ventures. Osso says the funding will be used to accelerate its “initiative to expand access to surgical training for all healthcare professionals and to continue investing in hiring high-level talent to bring training experiences.” high-fidelity surgical imaging to other specialty areas”.

“In two years, we may be between 600 and 800 people. Some of our targeted specialties include orthopedics and interventional specialties, so interventional cardiology, interventional radiology, vascular surgery. So I would like us to see 90-100% penetration with healthcare professionals in these specialties,” Dr. Barad said.

“Our mission is to improve outcomes, increase adoption of higher value-added technologies and techniques, and democratize access to surgical training for everyone, everywhere. And so my vision for Osso VR, however long it takes, five to 10 years, is that every procedure that you could possibly do is simulated in this universal simulation platform called Osso. And that it is also a central repository for all healthcare competency data. »

The platform allows healthcare professionals to participate in interactive training with virtual reality headsets, custom hardware and haptic devices. Since its launch, the platform has seen many updates and expansions, improving the visual fidelity of the experience and expanding the training selection to include new areas.

“If you’re looking at…something like a joint replacement or a routine sports procedure, I’d say the likelihood would be pretty high within a couple of years, I’d say 60% to 80%, that this healthcare professional has at least some training in virtual reality for the relevant procedure,” said Dr. Barad. “And then if you go out for a few years, what’s interesting is that this next generation is not just excited about this technology, they’re expecting it.”

The Series C funding of $66 million follows the last funding round in the middle of last year, which raised $27 million.

You can check out our full interview with Dr. Barad in the video embedded above or on our YouTube channel, discussing his journey to the latest funding round and his plans for Osso in the future.

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