The round valued Hinge Health at $6.2 billion.

Hinge Health, which relieves back and joint pain through its virtual “Digital Musculoskeletal Clinic,” announced today its raise of $400 million in a Series E round that valued it at $6.2 billion. That valuation is double that of the $3 billion valuation in January’s D round, and about 15 times that of the $420 million valuation in Series C in February 2020. (Fierce Healthcare)

Hinge: No surgeries please

Hinge’s solution reduces musculoskeletal (MSK) pain, surgeries and opioid use by pairing advanced wearable sensors and computer vision technology with a comprehensive clinical care team of physical therapists, physicians, and board-certified health coaches.

Its computer vision and motion sensors aid patients with exercise therapy and motion assessments.

In 2021, the company more than doubled its customer base from the previous year, and raised over $1 billion in capital.

It also acquired Enso, which developed a noninvasive device shown in double-blind clinical trials to reduce pain by 56% and deliver clinically effective relief for 86% of patients without drugs or surgery. The device works via a patented electrical stimulation that relaxes the muscles and calms the nerves. It is a noninvasive and non-addictive pain relief technology that Hinge has integrated into its own solutions.

The latest round was led by Tiger Global and Coatue Management, with Alkeon and Whale Rock taking stakes as part of a $200 million secondary investment.

Use of funds

Hinge will use the funding for technology and product development to improve access, outcomes and patient experiences.

Related Story: Hinge Health, The Digital Clinic For Back And Joint Pain, Raises $310M