Hinge Health raises $26M Series B to tackle musculoskeletal pain

Hinge Health, the San Francisco-based startup that offers a tech-enabled platform to treat musculoskeletal (MSK) disorders — things like knee pain, shoulder pain, or back pain — has raised $26 million in Series B funding.

Leading the round is Insight Venture Partners, with participation from the company’s Series A backer Atomico. In fact, I understand that the London VC firm has doubled down on its investment and has actually increased its stake in Hinge.

The new round of funding brings total raised by the company to $36 million since being founded in 2015 (and originally based in London). Hinge Health  founders Daniel Perez and Gabriel Mecklenburg still maintain majority control of the board.

Billing itself as digitising healthcare, Hinge Health combines wearable sensors, an app, and health coaching to remotely deliver physical therapy and behavioural health for chronic conditions. The basic premise is that there is plenty of existing research to show how best to treat MSK disorders, but existing healthcare systems don’t do a very good job at delivering best practice, either because of cost and the way it is funded or for other systematic reasons. The result is an over tendency to fall back on the use of opioid-based painkillers or surgery, with sub-optimal results.

The startup’s initial target customers are self-insured employers and health plans, with the pitch being that its platform can significantly reduce medical costs associated with chronic MSK conditions.

To that end, Perez tells me Hinge Health now has 40 enterprise customers in the U.S. and has partnered with 10 of the largest health plans. This is off the back of improved results, with 2 in 3 patients who go through the program avoiding the need for surgery, up from 1 in 2 at the time of the startup’s Series A. “[We’re] aiming to bump that to 80 percent soon,” he says.

By Steve O’Hear | TechCrunch

Image Credit: Hinge Health

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About Peter Coffaro 511 Articles
A growth-driven and strategic executive, Peter Coffaro commands more than 20 years of progressive management success within the medical device industry. As a District Sales Manager for Stryker Orthopaedics, Peter was responsible for managing and directing a regional sales force to achieve sales and profit goals within the Rocky Mountain region. Previously, he was the Director of Sales & Marketing for Amp Orthopedics. In this role, Peter was responsible for planning, developing, and leading all sales and marketing initiatives. Peter is a former orthopedic distributor in the Pacific Northwest. He has also worked with DePuy Orthopaedics as well as Zimmer, and held positions in sales, sales training, and sales management. Peter has an extensive background in organizational development, business development, sales management, negotiating and P&L management. Peter holds a B.S. degree in Biology from Northern Illinois University.

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