Mental health startup Rey raises $10 mn Series A round led by Optum Ventures and Oxford Sciences Innovation
Summary
The new funding will help Rey expand its consumer reach and provide more people with access to care through personalized services and leading-edge technology. Rey will also absorb OxfordVR and bring to market clinically validated virtual reality (VR) and digital treatments for Phobias, Psychosis, Post-Traumatic Stress Disorder, and Social Avoidance. Dr. Freeman pioneered the use of VR in severe mental illness for more than two decades and is the senior scientific advisor to Rey for development of new automated therapeutics. “With a big focus on the expansion of online mental health services, the challenge now is for companies to meet the demand,” said Deepak Gopalakrishna, founder and chief executive officer of Rey. “We’re integrating validated and innovative therapeutic tools with well-trained providers to ensure people have access to the high-quality care they need while keeping costs low and preventing provider burnout.” Rey combines proven therapeutic interventions, like cognitive behavioral therapy, with clinically validated tools, like virtual reality, to care for a wide range of member needs in new and novel ways.