What You Should Know:
– Digital therapeutics company, Kaia Health, has raised $75M Series C round (total: $125M) to expand clinical capabilities and transform the treatment path for Musculoskeletal (MSK) and Chronic obstructive pulmonary disease (COPD) care in the U.S. and Europe.
– The Series C round was led by an unnamed leading growth equity fund with support from existing investors, including Optum Ventures, Eurazeo, 3VC, Balderton Capital, Heartcore Capital, Symphony Ventures (investment vehicle of four times Major winner Rory McIlroy) and A Round Capital.
– 1 in 2 American adults are affected by an MSK condition, which results in $120B annual costs to employers. Founded in 2016, New York-based Kaia Health is a leading digital therapeutics company that creates evidence-based treatments for a range of disorders including musculoskeletal conditions and COPD. Kaia Health uses innovative technology, including artificial intelligence and computer vision, and works with medical experts to create an interdisciplinary digital approach. This empowers and motivates individuals to take control and self-manage their condition with effective, non-pharmacological, digital alternatives at low costs.
Recent Traction/Milestones
Kaia Health is the biggest player in the digital MSK space covering 60M lives. Its book of business grew 600% as the pandemic accelerated demand for a digital MSK solution – and its virtual physical therapy is the only technology to provide real-time exercise feedback that has been third-party validated for accuracy.
The 2020 pandemic accelerated demand for a digital MSK solution, which saw Kaia Health grow its book of business by 600%. Globally, 60 million patients can access the Kaia Health digital MSK platform, which makes Kaia Health by far the biggest player in the digital MSK space in terms of covered lives. Its virtual physical therapy is the only technology in the chronic disease management market to provide real-time exercise feedback that has been third-party validated for its accuracy.
The investment will grow its commercial team and accelerate product and partnership development to help more Americans access Kaia Health MSK solution and expand the offering to COPD care. In addition, the funds will be invested in extending the offering within Europe and increasing access to Kaia Health by making its MSK and COPD solutions available through national reimbursement systems.
