Kaia Health raises £7.5m million for its back pain app
London-based startup and digital therapeutics pioneer Kaia Health has just raised £7 million in a Series A round led by Balderton Capital.
The funding will be used to support Kaia Health’s rollout in the US, including a new office in New York City, and to fund further clinical studies.
The team developed an alternative treatment for back pain, through creating an app that utilises machine learning and computer vision to suggest individual therapies.
Since launching in 2016, Kaia Health has created digital treatments for both back pain and chronic inflammatory pulmonary disease.
The Kaia back pain app has already been adopted by over 250,000 individuals, as well as organisations across Europe and the US, including some of Europe’s biggest health insurance companies.
Kaia Health uses the latest technology to provide users with a daily plan through the app, which includes physical exercises, relaxation techniques, and educational content.
Therapy is tailored for each user through the app via a proprietary algorithm which adapts the exercise program for each individual.
Konstantin Mehl, co-founder and CEO of Kaia Health, said: “Over the last twelve months, we’ve demonstrated a universal, unmet need for affordable and accessible digital therapy products, such as our world’s first computer vision-powered back pain app. These improve treatment paths for patients and reduce costs for payers in healthcare around the globe.
"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.”
James Wise, Partner at Balderton Capital added: “We look forward to being able to support Kaia on their mission to put treatment and pain management into the hands of patients and improve lives.”