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

January 6, 2021 | Latest News, News, Venture Capital
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The Series D funding valued the startup at $3 billion post-money – a 6X increase in less than a year.

According to a report by TechCrunch, San-Francisco-based Hinge Health raised $310 million in a Series D round that valued it at $3 billion post-money. Hinge is the first digital clinic for back and joint pain. It offers musculoskeletal (MSK) care at every stage from prevention to post-surgery.

The latest round was led by Coatue and Tiger Global.

It follows on a $90 million Series C round that closed in February and valued Hinge at $420 million. Bessemer Venture Partners, Lead Edge Capital, Insight Partners, Atomico, 11.2 Capital, Quadrille Capital, and Heuristic Capital also participated in that round.

The use case for Hinge health

Hinge is a top-selling MSK solution for employers and health plans.

Employers interested in solving their MSK issues must currently assemble a collection of disparate vendors. These range from prevention, wellness, tele-PT, digital programs, expert medical opinion, centers of excellence (COEs), and more.

However, Hinge offers a complete digital MSK clinic. It straddles all aspects of MSK including prevention, acute/episodic care, surgery and post-surgery care, along with the company’s flagship Chronic Pathway. The latter is clinically validated to reduce pain by 69% and avoids 2 in 3 surgeries.

The digital system from Health is designed to remotely deliver physiotherapy and behavioral health through coaching using a combination of an app and wearable sensors that tap into the platform. It aims to reduce chronic pain, opioid use, and surgeries.

Hinge said last year that it planned to hire an additional 100+ full-time PTs and doctors for 2021.

Solid growth

Hinge was founded in 2015 by Daniel Perez and Gabriel Mecklenburg, who retain voting control on the board, according to TechCrunch.

During the 12 months ended July 2020, Hinge quadrupled its customer base.

Furthermore, according to TechCrunch, Hinge clocked a 300% surge in revenue in 2020.

Based on the currently booked pipeline, it expects to triple revenue again in 2021.

Related Story:  Tonal, The Smart Home Gym Startup, Taps $110M                                                

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