San Francisco-based Hinge Health recently raised $300 million, putting it at a valuation of $3 billion thanks to a funding round led by Coatue Management and Tiger Global Management.
The digital clinic for back and joint pain reported that its revenue quadrupled year over year, its customer base tripled, and customer retention held at 100%. In January, Hinge Health management told Reuters they’re planning to take it public next year.
The company touts itself as going beyond digital physical therapy to offering a clinical care model that provides patients with access to physical therapists, physicians, health coaches and wearable sensors to guide exercise therapy for prevention to post-surgery.
Hinge Health reacted swiftly to the recent sudden increase in demand for digital healthcare, Coatue Management partner Lucas Swisher said in a news release.
Added Scott Shleifer, a partner at Tiger Global Management, “We have spent a lot of time evaluating the digital MSK (musculoskeletal) space, and Hinge Health has not just won the category, they created it and continue to move it forward.”