Boston, USA-based pioneer in virtual reality healthcare training, Oxford Medical Simulation (OMS) raised USD 12.6 million in Series A funding round. The company announced the investment on January 15, 2023. Frog Capital led the financing for the company. Meanwhile, ACF Investors, existing shareholders and strategic partners also joined in the funding. The recent investment marks a significant milestone in OMS’s mission to revolutionize healthcare education, training, and assessment.
Purpose of financing for Oxford Medical Simulation
With the latest financing, Oxford Medical Simulation seeks to fund expansion. It has plans to scale its offering across learner groups. Meanwhile, the company looks to expand the use of AI across its solutions. Besides, the company aims to further support clients in building their own content.
The investment also funds R&D efforts, further ensuring OMS remains at the forefront of innovation in healthcare training.
What the OMS official has to comment
Michael Wallace, co-founder and CEO of OMS, said, “This investment marks a milestone for OMS. It allows us to rapidly scale the team whilst staying true to our vision and values. Frog’s experience in helping scale impact-focused software companies, combined with the significant expertise of our healthcare advisory board, will facilitate this expansion at a critical time for OMS and the healthcare workforce. But these innovations are not just about technology; they’re about people – training healthcare professionals more effectively to improve patient care, and this funding isn’t just an investment in Oxford Medical Simulation; it’s an investment in every healthcare professional we train. Our journey so far has been incredible, and it’s only just beginning.”
What the investors have to comment
Konstantin Koenig, Principal at Frog Capital, further said, “Recruitment, training and retention of healthcare professionals at scale is key to addressing the workforce crisis within healthcare. We have been impressed with the team at OMS and how they are addressing this issue using cutting-edge software. Their immersive healthcare training solution drives a step change in quality, productivity and cost efficiency for healthcare systems and patients worldwide. As a purpose-driven investor, we’re excited to support them with our scale-up experience on this journey.”
About the company
OMS is on a mission to train the next generation of nurses, doctors, as well as allied healthcare professionals. OMS seeks to eradicate the critical gap, offering immersive training experiences, which further enable healthcare professionals to practice any place, any time, without risk. This ensures that the first time they encounter a medical emergency, have a difficult conversation or perform a procedure, they have already experienced it in OMS – streamlining workforce training, enhancing preparedness for practice and improving patient safety.
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