Hinge Health, the San Francisco-based company that offers a digital solution to treat chronic musculoskeletal (MSK) conditions — such as back and joint pain — has closed a $310 million in Series D funding, according to sources.
The round is led by Coatue and Tiger Global, and values 2015-founded Hinge at $3 billion post-money, people familiar with the investment tell me. It comes off the back of a 300% increase in revenue in 2020, with investors told to expect revenue to nearly triple again in 2021 based on the company’s booked pipeline.
I also understand that Hinge’s founders — Daniel Perez and Gabriel Mecklenburg — retain voting control of the board. I’ve reached out to CEO Perez for comment and will update this post should I hear back.
Hinge’s existing investors include Bessemer Venture Partners, which backed the company’s $90 million Series C round in February, along with Lead Edge Capital, Insight Partners (which led the Series B), Atomico (which led the Series A), 11.2 Capital, Quadrille Capital and Heuristic Capital.
Initially situated in London, Hinge Health fundamentally sells into U.S. managers and wellbeing plans, charging itself as a computerized medical services answer for ongoing MSK conditions. The stage consolidates wearable sensors, an application and wellbeing instructing to distantly convey exercise based recuperation and conduct wellbeing.
The essential reason is that there is a lot of existing exploration to show how best to treat persistent MSK problems, however, existing medical care frameworks aren’t capable because of financing pressures and for other efficient reasons.
The outcome is an over propensity to utilize narcotic based painkillers or medical procedure, with helpless outcomes and frequently at much more prominent expense. Pivot needs to switch this using innovation and better information, with an emphasis on improving treatment adherence.
In the interim, Hinge’s hop in valuation is critical. As per sources, the organization’s February round delivered a valuation of around $420 million, so the new valuation is in excess of a 6x increment.
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