We got an exclusive look at the pitch deck digital health startup Kaia Health used to raise $75 million
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- New York-based digital health startup Kaia Health has raised its second funding round in 12 months.
- Kaia raised $75 million from an unnamed growth fund 10 months after its $26 million Series B.
- Golfer Rory McIlroy’s Symphony Ventures is among Kaia’s backers.
New York-based digital health startup Kaia Health has raised its second funding round in 12 months.
The $75 million Series C round from an unnamed growth fund comes 10 months after the company’s $26 million Series B.
Kaia Health, founded in 2016, develops treatments for chronic pain, particularly back pain, which is a major US health problem that costs at least $50 billion a year to treat. About half of all working Americans say they have back pain, and it’s the third-most-common reason for visits to the doctor, the American Chiropractic Association (ACA) says.
Patients can make use of personalized physical therapy sessions developed by the company’s algorithm. Users carry out the sessions by placing their phone down facing them. Its front-facing camera uses artificial intelligence to ensure a patient’s body is shaped in the correct way to get the most out of a session. Kaia, which is marketed to both corporates and individuals, also allows one-on-one video consultations with health coaches.
Kaia’s app also offers mindfulness exercises, such as breathing and relaxation techniques. A one-year subscription costs $80.
“We’re growing a lot more aggressively on the business side than before,” CEO Konstantin Mehl told Insider. Mehl said that the company had added 40 employees since last summer and wanted to go from 120 staff to 200 by the end of the year.
Existing investors Optum Ventures, Idinvest, capital300 and Symphony Ventures, an investment partnership established by golfer Rory McIlroy, Balderton Capital, and Heartcore Capital also joined the round.
The digital health sector has attracted $6.7 billion of investment in Q1 2021, according to a recent report by Rock Health.
Kaia Health claimed its business has grown 600% in the past 12 months.
The startup’s funding will also go towards expanding its chronic obstructive pulmonary disease (COPD) care offering in the US and Europe.
Check out Kaia Health’s pitch deck below: