Digital therapeutics firm raises $10m
Written by Peter Walker
Kaia Health, creator of the world’s leading back pain app, has raised $10 million in a Series A round led by Balderton Capital.
The investment will be used to support a US roll-out - including a new office in New York City - and to fund further clinical studies.
Since launching in 2016, Kaia Health has created scientifically-validated digital treatments for a range of disorders, including back pain and chronic obstructive pulmonary disease. The Kaia back pain app has been adopted by over 250,000 individuals, as well as organisations across Europe and the US, including German health insurer BARMER, which offers the service free to members.
Kaia Health develops machine learning technology and works with medical experts to create a home-based, affordable and clinically-validated alternative to painkillers, delivered through a smartphone. The app offers users a daily plan which features physical exercises, relaxation techniques and medical educational content.
Additionally, therapy can be tailored for each user via a proprietary algorithm which adapts the exercise program to that individual’s input. Patent-pending motion tracking technology also monitors and provides real-time audio feedback on patients’ exercise performance.
Konstantin Mehl, co-founder and chief executive of Kaia Health, said: “Balderton’s investment will support the next stage of our journey, as we expand across the US, undertake further clinical studies and cement our position as a global leader in the digital healthcare market.”