In Virtual reality news
July 30, 2021 – Rey, a new mental health and wellness company that integrates immersive tools and digital interventions with teletherapy, today announced new funding of $ 10 million, increasing its A series to a total of $ 26 million. The funding round was led by Optum Ventures and Oxford Sciences Innovation.
Launched in April 2021, Rey works to improve mental health and well-being by combining cognitive behavioral therapy, conversation therapy, medication, and clinically validated technology tools, such as virtual reality (VR), to care for people in new ways. . Driven by OxfordVR, an Oxford University-derived company that offers immersive treatment tools, Rey is helping healthcare teams bring treatments directly to members ’homes.
Rey said the new funding will help the company launch its on-demand mental health clinic, with technology, expand the reach of consumers and provide more people with access to care through personalized services.
“Mental and behavioral health is quickly destigmatized, which is fantastic. But that means there’s a growing need and reliance on providers to provide that care, which can increase costs, ”said Mike Desjadon, Rey’s commercial director.“ Through our innovative digital care approach, we can turn the script around and offer more personalized care at an affordable price to address a variety of mental health needs. ”
In addition, Rey also announced that he will absorb Oxford VR and to introduce to the market digital and RV treatments clinically validated for phobias, psychosis, post-traumatic stress disorder and social avoidance. The company added that possible future treatments include obsessive-compulsive disorder and substance use disorder.
OxfordVR, was founded in 2017 by Dr Daniel Freeman, Professor of Clinical Psychology at Oxford University. Dr. Freeman studied the use of virtual reality to help treat serious mental illness for more than two decades and is Rey’s senior scientific advisor for the development of new automated therapeutic products.
“With a strong focus on expanding online mental health services, the challenge now is for companies to meet demand,” said Deepak Gopalakrishna, Rey’s founder and CEO. “We are integrating innovative and validated therapeutic tools with well-trained providers to ensure people have access to the high-quality care they need, keeping costs low and preventing depletion of providers.”
To learn more about Rey and his immersive teletherapy solutions, visit the company website.
Image credit: Rey