Hinge Health, a digital health startup that develops software, hardware, and services to help companies manage employees’ musculoskeletal (MSK) conditions, has raised $26 million in a series B round of funding led by Insight Venture Partners, with participation from series A lead Atomico.
Founded in 2015, San Francisco-based Hinge Health is initially focused on getting companies the technology to combat chronic back and joint pain. Its product? A kit that contains two Hinge bands with motion sensors and a tablet with pre-installed Hinge Health software. It also includes a stand, carry case, and charging unit.
But Hinge Health doesn’t just ship a bunch of boxes to employers. The company also delivers a coach-led program that addresses the underlying problems causing the MSK condition in the first place.
MSK disorders are among the top expenditures for employers’ health plans, and the total cost of lower back pain alone is estimated to be around $100 billion each year in the U.S. Hinge Health claims it can drive costs down by half. It also now claims around 40 enterprises and “multiple” health plans as clients — according to its calculations, it has led to a 70 percent reduction in pain and 63 percent decrease in surgery.
Prior to now, Hinge Health had raised around $10 million — mostly via its Atomico-led series A round last July — and with another $26 million tranche in the bank the company plans to double down on its team and platform.
“Musculoskeletal pain wrecks lives, and costs billions,” noted Hinge Health cofounder and CEO…