Startups

Hinge Health secures $26M for solution to help patients with musculoskeletal pain

The startup will use the money from Insight Venture Partners and Atomico for R&D, to further expand its reach in the MSK field and to grow its commercial team.

Hinge Health knee sensors and tablet

Startup Hinge Health, which provides a digital solution aimed at helping patients with musculoskeletal pain, has raised a $26 million Series B round led by Insight Venture Partners and with participation from Atomico.

The San Francisco company plans to use the money for research and development purposes, to further expand its reach in the MSK field and to grow its commercial team, co-founder and CEO Daniel Perez said in a recent phone interview.

Musculoskeletal pain costs employers about one in six healthcare dollars, Perez added. The costs add up quickly primarily because the MSK realm is so procedure-driven.

Thus, Hinge Health’s goal is to make it easier for patients with chronic back or joint pain to recover at home. Its solution is built on three pillars: behavioral health and coaching, education and exercise therapy.

From the user perspective, individuals receive a box in the mail containing a tablet and two wearable sensors. They are also assigned their own personal health coach.

Patients then go through Hinge’s 12-week program, all of which is structured. Users receive guidance on what they should do each day. In addition to working with a coach, individuals receive applicable articles to read and stretching and strengthening exercises to complete.

Perez did note that the startup is transitioning from a 12-week to a 12-month program.

“What makes us unique … [is] the fact that we’re a comprehensive MSK solution,” Perez said.

Simply offering physical therapy to patients can lead to short-term improvements. But patient engagement and behavioral support are also crucial to the recovery process, which is why Hinge Health includes three pillars in its solution.

The San Francisco startup sells its solution to health plans and employers in the United States. It currently has almost 40 enterprise customers.

As for the latest funding, Perez noted that both Series B investors made solid partners. Insight Venture Partners, he said, has experience in employer healthcare and technology and has taken numerous companies public.

Atomico has invested in Hinge Health before. The firm led Hinge’s $8 million Series A round in 2017. Eleven Two Capital and The Vertical Group also took part in that funding round.

To date, the startup said it has raised $36 million.

Looking ahead, Hinge Health is planning to have 100 employees by the end of the year, up from the 70 it currently has. By the end of Q1 next year, it hopes to have 150 team members.

Additionally, the company is working on its AI that helps predict patient engagement and patient disengagement.

Photo: Hinge Health

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