FirstHand Technologies
Mobile unified communications solutions for enterprises.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor | €0.0 | round | |
| N/A | €0.0 | round | |
| investor investor | €0.0 | round | |
| N/A | €0.0 | round | |
N/A | Acquisition | ||
| Total Funding | 000k | ||
Established in 1995 and headquartered in San Francisco, FirstHand Technologies carved a niche in the digital therapeutics space by developing virtual reality (VR) games and simulations. The company was founded by Howard Rose, who has two decades of experience in the therapeutic applications of VR. FirstHand's primary focus was on creating immersive experiences to aid in therapy, research, and education.
A significant part of the company's history is tied to the development of VR for pain management. FirstHand was instrumental in creating SnowWorld, an early and groundbreaking VR application for pain relief. The company's own products, COOL! and GLOW!, were designed to distract patients from pain and anxiety during medical procedures and to help manage chronic pain through biofeedback-enabled games. For instance, a clinical study with pancreatic cancer patients showed that using the company's software resulted in a 30% reduction in reported pain and a 20% decrease in opioid use. These applications were developed to be compatible with various VR platforms, including Oculus, with a vision for at-home, personalized medicine.
The business model centered on providing these innovative VR therapies and patient solutions directly and also offering consulting services to help other organizations develop and market their own VR products. Over its history, FirstHand Technologies secured funding through at least four rounds, including grants from the HHS. A notable grant in September 2008 amounted to $3.42 million. The company was eventually acquired by Pear Therapeutics on January 7, 2020, marking a significant milestone in its journey.
Keywords: digital therapeutics, virtual reality therapy, VR pain management, biofeedback games, patient solutions, immersive therapy, medical VR, non-opioid pain relief, healthcare simulations, VR research, Howard Rose, Pear Therapeutics, SnowWorld, VR analgesia, digital health, health technology, therapeutic VR, medical simulations, pain distraction, personalized medicine