Hinge Health, the San Francisco-based firm that provides a digital resolution to deal with power musculoskeletal (MSK) circumstances, like again and joint ache, closed on $400 million in Series E funding to offer the corporate a $6.2 billion valuation.
Tiger Global and Coatue Management, which co-led the corporate’s $300 million Series D round again in January, are again once more to guide this one. They are joined by Alkeon Capital and Whale Rock, which put in a $200 million secondary funding to accumulate some possession in Hinge. Tiger, Coatue and Alkeon had been additionally not too long ago an funding crew in Abacus.ai, which introduced a $50 million round this week.
The new funding, which brings Hinge Health’s whole funds raised up to now at over $1 billion, shall be funneled into know-how and product growth to enhance entry, outcomes and affected person experiences, Daniel Perez, co-founder and CEO of Hinge Health, stated in a written assertion. The firm additionally touts that it’s “now one of the most valuable companies in digital health.”
Hinge Health’s know-how goals to cut back MSK ache, surgical procedures and opioid use by the usage of superior wearable sensors and pc imaginative and prescient know-how that’s monitored by a scientific care crew of bodily therapists, physicians and board-certified well being coaches.
So far this yr, the corporate, which is approaching 1,000 workers, greater than doubled its buyer base to now serve over 575 enterprise clients. It additionally rounded out its management crew with new hires Lalith Vadlamannati, who joined as chief know-how officer after spending 13 years at Amazon, and Vincent Lim, chief folks officer, who has earlier expertise scaling groups at Google, Medium and JUUL Labs.