Kaia Health Announces $8 Million in Funding Led by Optum Ventures
NEW YORK and BOSTON, Sept. 17, 2019 /PRNewswire/ -- Kaia Health, a digital therapeutics company, today announced an $8 million funding round, the second significant investment this year. The infusion of capital is led by Optum Ventures.
Kaia Health has developed a smartphone-based approach for managing a range of chronic conditions, with its leading product focused on musculoskeletal disorders (MSK) such as chronic back pain. The investment by Optum Ventures helps Kaia Health address the rising costs of treating MSK-related conditions, the difficulty patients have in accessing gold-standard treatment, and the need for innovative, scaleable and cost-effective technology solutions to confront this issue.
Kaia Health's world-leading 2D motion tracking technology enables users to get real-time feedback on their exercise performance using their smartphone's camera, which, when taken together with the platform's psychological and eduction support, has been proven to outperform conventional therapy.
"The investment from Optum Ventures will allow us to explore integration opportunities throughout the complete patient treatment journey," said Konstantin Mehl, Founder and CEO of Kaia Health. "We are proud to partner with Optum Ventures, a company at the forefront of improving health care."
Optum Ventures' investment will be used to accelerate sales growth in the U.S. health care market, extend the platform into other chronic indications and expand the supporting clinical evidence base.
"Kaia Health has taken a technology-led approach to create a digital therapeutic that will make treatment more accessible to patients who need it," said Heather Roxborough, Partner at Optum Ventures. "We believe Kaia Health's digital therapeutic solutions will benefit those suffering from MSK disorders and are excited about its application in other indications."
With three peer-reviewed clinical studies, including a randomized controlled trial recently published in NPJ Digital Medicine, Kaia Health has demonstrated its commitment to creating validated digital therapeutics and has additional clinical studies ongoing in the United States.
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SOURCE Kaia Health