Hinge Health, a health app for people with chronic pain, has picked up $26 million in Series B funding. The round was led by Insight Venture Partners, and its previous investor London-based technology investor Atomico also participated in the round.
Follow Crunchbase News on Twitter
This is the startup’s fourth capital infusion. Most recently, Hinge Health raised an $8.3 million Series A led by Atomico in July 2017. The Series B brings the company’s total capital raised to more than $36 million, per Crunchbase.
Founded in 2015, Hinge Health aims to help individuals suffering from chronic musculoskeletal pain to avoid unnecessary surgeries and pain medication. Its program is geared toward a lifestyle and behavioral medicinal approach. Hinge Health focuses on partnering with companies, providing its services as a benefit to employees who often struggle with back and other chronic pain.
The program provides users with 15-minute at-home, personalized stretching and strengthening exercises three times a week. The program includes a personal health coach, as well as access to articles about the roots of chronic pain, reducing pain, and other related information. Hinge Health provides its customers with both a tablet with the Hinge Health app and wearable sensors with chargers to track the effectiveness of exercises.
According to its website, the company says that its users have 60 percent fewer surgeries and that, on average, they have reported that their pain is reduced by 15 percent after twelve weeks. The company has grown by more than 50 people since raising its Series A last July and plans to grow to 100, according to Venturebeat.
Hinge Health is one of various startups that are looking to help individuals reduce pain and discomfort, and live healthier lives through the use of technology. Other startups have focused on work in diabetes and fitness through similar personalized programs. It seems that entrepreneurs are catching on to the desire for individuals to take control of their own pain and health, specifically when costly or painful procedures are the only alternatives.
From The Crunchbase Daily:
Letgo raises $500M to take on Craigslist
- Letgo is holding on to a lot of cash. The peer-to-peer secondhand goods marketplace just raised $500 million in a round led by previous investor Naspers. The financing brings aggregate funding for the New York-based company to $975 million.
- And the giant rounds keep coming. Santa Monica, Calif.-based TaskUs, a decade-old provider of outsourced back office and customer support services, has raised $250 million from private equity giant Blackstone Group.
- These haven’t been great days for cryptocurrency bulls. Recent declines have pushed the total market cap of crypto to its lowest point since November. Bitcoin alternatives have fared especially badly.
Tallying the most funded AI startups
- In a world where supergiant rounds are now quite common, artificial intelligence startups have brought in some big sums. Crunchbase News takes a look at the most heavily funded players in the space, in categories ranging from self-driving cars to toy robots to cybersecurity.
Webinar: Power Prospecting with Crunchbase Pro
- Sales pros with more information have the upper hand. Always. Get ahead by learning how to monitor crucial buy signals in real-time. Reserve your spot.
Illustration Credit: Li-Anne Dias
Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.
67.1K Followers