San Francisco-based Hinge Health is a company that is aiming to treat musculoskeletal (MSK) disorders such as knee, shoulder and back pain. Hinge Health recently raised $26 million in Series B funding.
Insight Venture Partners led this round of funding. And Atomico also followed up in the Series B round as it also participated in the Series A as well. Hinge Health has now raised a total of $36 million since it was founded in 2015.
“Musculoskeletal pain wrecks lives and costs billions,” said Hinge Health co-founder and CEO Daniel Perez via VentureBeat. “But it doesn’t have to be that way. One year ago as we closed our series A we were 18 people, now we’re 70 and zooming toward 100. Our growing team has a unique opportunity to empower patients to alleviate their back and joint pain with a science-based care program. This requires substantial investment, partners committed to the long haul, and dedication to our high-quality approach that combines technology-enabled exercise therapy, behavioral health, and education.”
Hinge Health essentially combines its app, wearable sensors, and health coaching features for delivering physical therapy remotely. One of the biggest problems with MSK disorders is that existing health care systems are inadequate at providing best practices due to costs and other problems in the system. So many patients end up turning to surgery or opioid-based painkillers.
Some of Hinge Health’s early customers are self-insured employers and health plans, according to TechCrunch. Hinge Health pitches itself as being able to significantly reduce medical costs associated with MSK conditions.
Hinge Health now has 40 enterprise customers in the U.S. And the company partnered with 10 of the biggest health plans. Hinge said that it is seeing improved results. It is now seeing 2 in 3 patients going through its program avoiding having to go through surgery. This is up from 1 in 2 around the time Hinge was raising its Series A round.