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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.
About Kaia Health
Kaia Health is a digital therapeutics company that creates accessible, evidence-based treatments for a range of disorders including back pain and COPD. Working with experts in various medical fields, the company uses technology such as machine learning algorithms to deliver individualized app interventions that aim to empower and motivate patients to take control and self-manage their condition with digital alternatives from their home using devices they already own (i.e., smartphones and tablets). Kaia Health has enrolled more than 275,000 users to-date in their digital therapy program. Kaia Health is a member of the Digital Therapeutics Alliance (DTA), an international non-profit trade association of industry leaders and stakeholders engaged in the evidence-driven advancement of digital therapeutics. Kaia Health is located in New York City. For more information about Kaia Health, visit www.kaiahealth.com.
About Optum Ventures:
Optum Ventures is the independent venture fund of Optum, a leading information and technology-enabled health services business dedicated to helping make the health system work better for everyone, and part of UnitedHealth Group. Optum Ventures invests in digital health companies that use data and insights to help improve consumers' access to health care services and how care is delivered and paid for, and that make the health care system more reliable and easier to navigate. For more information, visit www.optumventures.com.
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SOURCE Kaia Health