The VR mental and behavioural health company has merged with a spin-out of Oxford University, OxfordVR, which specialises in science-based VR treatments for severe mental illnesses and the combination is backed by an initial $13m raised in Series B funding
Accenture has announced an investment in US-based virtual reality (VR) digital wellness and digital therapeutics company BehaVR through Accenture Ventures.
The VR mental and behavioural health company has also announced its merger with a spin-out of Oxford University, OxfordVR, which specialises in science-based VR treatments for severe mental illnesses.
The combination is backed by an initial $13m raised in Series B funding led by Optum Ventures and Oxford Science Enterprise.
Along with Accenture Ventures, the funding round saw participation from Confluent Health, Chrysalis Ventures and Thornton Capita.
The combined company will deliver extensive, cross-acuity, VR-based therapeutic treatments for mental health.
BehaVR founder and CEO Aaron Gani said: “Around the world, providers and employers are grappling with how to enhance the depth, breadth and efficacy of their mental health service offerings, and we believe virtual reality-based digital therapeutics can play a vital role in helping them do all of those things.
“Joining Accenture Ventures’ Project Spotlight is a powerful way to drive increased awareness of BehaVR’s VR-powered mental health services as we continue our work to lower barriers and deliver advanced care to the people that so desperately need it.”
Through the merger, the two digital therapeutic firms will form the largest VR delivery platform for evidence-based digital behavioural therapies, stated BehaVR.
The BehaVR platform allows customised, dynamic experiences that are managed and adjusted in real-time based on protocols, biometrics, and machine learning models.
It is made possible through the firm’s proprietary delivery platform for developing, validating, and operating digital therapeutics solutions.
Through the investment, BehaVR has become a part of Accenture Ventures’ Project Spotlight initiative, which is an engagement and investment programme.
Accenture senior managing director and health practice global lead Rich Birhanzel said: “Providing people with the flexibility to decide when, where, and how they want to receive mental health care will help to improve access, experience, and outcomes.
“BehaVR offers people choice and clinicians options to expand how they care for patients.”
Recently, Accenture, in line with its Project Spotlight programme, announced a partnership agreement with Planet Labs to develop artificial intelligence (AI) powered geospatial intelligence tools for sustainability, traceable supply chain, and climate risk solutions.