The latest funding, which is led by Tiger Global and Coatue Management, has enabled the company to increase its valuation to $6.2bn to become one of the most valuable companies in digital health
The funding will help Hinge Health to meet the increasing demand from Americans expecting accessible care for back and joint pain. (Credit: Business Wire)
Hinge Health, a digital musculoskeletal clinic, has raised a $600m funding to expand its digital health capabilities.
The company has closed a $400m series E financing, led by Tiger Global and Coatue Management, to meet the increasing demand from Americans expecting accessible care for back and joint pain.
In addition, Alkeon and Whale Rock acquired ownership as part of a $200m secondary investment.
With the latest funding, the company has achieved $6.2bn valuation and turned into one of the most valuable companies in digital health.
Coatue Management partner Lucas Swisher said: “We are excited by Hinge Health’s vision and achievements and were impressed to see patients speak about their care experience with such delight and passion.”
Hinge Health, which has more than doubled its customer base year over year, is said to have one of the largest clinical, data science, and R&D teams in digital health.
Employers and health plans collaborated with Hinge Health to offer members access to a clinical care team and an advanced technology portfolio.
The portfolio consists of computer vision and motion sensors for exercise therapy and motion assessments and Hinge Health Enso wearable technology for noninvasive and nonaddictive pain relief.
The company also offers HingeConnect to bridge gap between in-person and digital MSK care, as well as facilitate near-real-time interventions by integrating health data with more than750,000 providers.
Hinge Health cofounder and CEO Daniel Perez said: “What makes this round special is that it’s led by the people who know us best – our existing investors.
“We’ll use this capital to continue investing in new ways to improve access and outcomes, create exceptional patient experiences, and avoid unnecessary surgeries.”
In addition, Hinge Health has appointed Lalith Vadlamannati as chief technology officer and Vincent Lim as chief people officer.
Last month, Hinge Health acquired wrnch, a developer of computer vision platform to measure human motion, for an undisclosed sum.