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- #183: Matthew Stoudt, Co-Founder & CEO of AppliedVR, on Building a Company to Improve the Lives of Patients with Chronic Pain Through Virtual Reality Therapeutics
#183: Matthew Stoudt, Co-Founder & CEO of AppliedVR, on Building a Company to Improve the Lives of Patients with Chronic Pain Through Virtual Reality Therapeutics
Matthew Stoudt is the CEO and Co-Founder of AppliedVR where he is pioneering virtual reality therapeutics (VRx), the next generation of digital therapeutics. Leveraging the unique therapeutic properties of VR, AppliedVR is on a mission to enable patients with chronic pain to improve their lives through safe, effective and self-administered VRx. AppliedVR is backed by leading institutions including the NIH via the National Institute of Drug Abuse (NIDA), the National Cancer Institute (NCI), the VA, Cedars-Sinai, Cleveland Clinic, Geisinger and over 150 other institutions.
Matthew is an accomplished entrepreneur who founded and built Outcast Media, the largest out of home digital media platform in the US, exiting to Verifone in 2014. Prior to Outcast, Matthew was an Entrepreneur-in-Residence at McDonald’s where he launched several successful businesses including a digital media platform in multiple countries. Matthew began his professional career in investment banking and private equity, having raised over $1 billion in growth capital for a variety of businesses across multiple sectors. Matthew earned his MBA at Kellogg Graduate School of Business graduating with honors and his BA from Northwestern University. Matthew is an avid traveler with a mission to visit every country in the world...if COVID will let him.
About Our Partners
This episode is brought to you by Hawke Media. Hawke Media is a full-service Outsourced CMO based in Santa Monica, CA, providing guidance, planning, and execution to grow brands of all sizes, industries, and business models.
Hawke Media was recognized by Inc. as the country's fastest-growing marketing consultancy and is proudly one of Glassdoor's "Best Places to Work", 2019 #893 on the Forbes 5000 list, UpCity Top Los Angeles Digital Marketing Agency. Hawke’s collaborative process, à la carte offering, and month-to-month fee structure give clients the flexibility they need to boost digital revenues and marketing ROI.
Hawke Media The company has serviced over 1500 brands of all sizes, ranging from startups like Tamara Mellon, SiO Beauty and Bottlekeeper to household names like Red Bull, Verizon Wireless and Alibaba.
Listen to our interview with Erik Huberman, Founder and CEO of Hawke Media, in episode 23 of the Just Go Grind Podcast.
This episode is also brought to you by Toptal. Toptal is an exclusive network of the top freelance software developers, designers, finance experts, product managers, and project managers in the world. Top companies hire Toptal freelancers for their most important projects.
Connect with Matthew Stoudt
Some of the Topics Covered by Matthew Stoudt in this Episode
How AppliedVR got started
How Matthew's wife sitting next to the CMO of Magic Leap on an airplane led Matthew to get into the world of VR
What Matthew did to get AppliedVR off the ground
Why the greatest impact for VR in healthcare is getting a device into patients' homes
The impact of COVID on healthcare
How Matthew has gone about building his team for AppliedVR
Building the experience of AppliedVR's chronic pain platform
Creating a proprietary biodata platform and transferring the experience into VR
Combining hardware and software to create a solution for pain management
Learnings from working with 60,000 patients and sending over 1,000 devices into patients' homes
How Matthew and his team have gotten AppliedVR into the hands of as many patients as possible
Partnerships and how they have helped AppliedVR build a trustworthy brand
Why you have to tap into the entire healthcare ecosystem if you want to create real change
Meeting an unmet need for patients, providers, and payers
The fundraising process for AppliedVR and how they raised $23M
Why it's important to be able to tell a compelling narrative
New technology and how that impacts Matthew's vision for AppliedVR
Why Matthew believes AppliedVR can become the CVS of VR
How Matthew's time is spent day-to-day at AppliedVR
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