– Health Scholars, a Westminister, CO-based virtual reality healthcare training platform raises $17M in Series B funding.
– Funding will be utilized for the expansion of clinical training simulations and virtual simulation technologies.
Health Scholars, known for their VR simulations and cloud-based training platform utilized for management, delivery, and analysis of clinical training, is excited to announce the successful completion of a $17M round of fundraising with investments from Arboretum Ventures, Venture Investors, Capital Midwest Fund, OSF HealthCare, as well as key family office seed funders.
Transforming the Way Clinical Education and Training Are Delivered
Founded in 2017, Health Scholars’ mission is to advance healthcare education through virtualization, making experience-based training scalable, accessible and affordable to both Healthcare and Public Safety providers. Health Scholars is a cloud-based, VR-ready clinical training platform with VR Simulations, Simulation Management, and Clinical Readiness Reporting solutions for the management, delivery, and analysis of clinical training. Their VR simulations extend physical simulation beyond the simulation center, enabling repeatable practice of proper workflows as well as critical soft skills like communications, situational awareness and critical thinking.
Launches First VR ACLS Training Simulation for First Responders
In addition, Health Scholars announces the availability of the first Virtual Reality (VR) Advanced Cardiac Life Support (ACLS) training designed specifically for first responders. Made possible with the company’s Public Safety Innovation Accelerator Program – User Interface grant from the National Institute of Standards and Technology (NIST) Partnership and the State of Colorado’s Advanced Industries Accelerator Program, the company is excited about the possible impact to the industry and the community.
Designed in accordance with American Heart Association guidelines and input from local EMS partners, providers play the role of the team lead running a mega code and are provided thirteen total scenarios that reflect cardiac and non-cardiac arrest scenarios. Using voice direction, providers identify rhythms and direct virtual team members to shock, give meds, and/or perform CPR as necessary. The simulation provides extensive practice on communication, situational awareness, decision-making and competencies such as accurate hospital notification.
Health Scholars Expansion Efforts
The new investment round will enable Health Scholars to continue to introduce and expand new virtual technologies in both the Hospital and Public Safety market allowing for greater accessibility, scalability, and immersion at up 80% less cost than traditional simulation training methods.
Specifically, the company will use the funding to expand their VR content library, further develop the virtual learning platform to facilitate enterprise-scale deployments and analytics, grow the go-to-market resources and strengthen their IP base.
“Closing our Series B financing is a huge vote of confidence from both the market and investor community of Health Scholars’ strategy and value, says Cole Sandau, Chief Executive Officer at Health Scholars. “Having $17M in new capital to expand our focus on patient safety and quality issues will provide our customers with truly transformative training and virtual simulation technologies that will drive improved patient outcomes,” he continues.