Friday, December 9, 2022

Upswing Health raises $5M seed to grow virtual MSK care platform



Virtual musculoskeletal care startup Upswing Health introduced final week it had scored $5 million in seed funding.

Members within the spherical included Montage Ventures, Connecticut Improvements, WTI, Ikigai Healthcare Fund and different strategic traders.

WHAT IT DOES

Upswing affords a web-based symptom checker the place customers can describe their ache in a questionnaire and obtain train suggestions that would assist. If their harm or situation is extra extreme, sufferers can seek the advice of nearly with well being coaches who’re often licensed athletic trainers.

Sufferers may also entry telehealth appointments with orthopedic physicians and obtain referrals to in-network specialists, surgeons or imaging suppliers if essential. 

WHAT IT’S FOR

The MSK startup will use the funding to gasoline development and rent new management positions in addition to pace product growth, advertising and marketing and gross sales to new companions. 

“This profitable funding spherical displays traders’ collective confidence within the innovation Upswing Health has introduced to market and its future as a a lot bigger enterprise,” CEO Yenvy Truong mentioned in a press release.

“We have been delighted to discover ourselves oversubscribed and ready to develop the providing. The capital raised will assist us proceed to ship rapid entry to the best high quality of care whereas decreasing wasted time and assets.”

MARKET SNAPSHOT

There are a number of virtual MSK and physical therapy startups elevating funds, whereas platform digital well being firms are additionally getting into the more and more aggressive house. 

Main gamers Hinge Health and SWORD Health each held a number of financing rounds final 12 months, some price 9 figures. Each firms additionally lately expanded into female pelvic health and pain.

DarioHealth, which additionally affords continual situation administration instruments for hypertension, diabetes and weight, launched its own MSK program in October after it acquired Upright Technologies early final 12 months. It additionally entered into an settlement in January to buy Physimax, an organization that gives AI-enabled motion evaluation and harm prevention.

One other platform firm, Omada, entered the MSK house with its 2020 purchase of Physera.

Different firms embody RecoveryOne, which recently launched its own computer vision tool that traces movement and offers suggestions, Kaia Health, which raised $75 million in Series C funding a couple of 12 months in the past, and SpineZone, which closed a $12 million Series A in February 2021.

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