Hinge Health, a San Francisco-based provider of a digital program for managing ongoing musculoskeletal (MSK) issues – including pain in the back and joints – has successfully secured $300 million in Series D funding, as reported by sources. (Note: Hinge Health has since officially announced this funding.)

This funding round was spearheaded by Coatue and Tiger Global, and it establishes the valuation of Hinge, founded in 2015, at $3 billion post-money, according to individuals with knowledge of the investment. This investment follows a 300% surge in revenue during 2020, and projections indicate revenue will almost triple once more in 2021, based on the company’s current confirmed contracts.

It is also understood that the company’s founders – Daniel Perez and Gabriel Mecklenburg – will continue to hold voting control on the board of directors. A request for comment has been sent to CEO Perez, and this article will be updated if a response is received.

Hinge’s current investors include Bessemer Venture Partners, who participated in the $90 million Series C round in February, as well as Lead Edge Capital, Insight Partners (who led the Series B), Atomico (who led the Series A), 11.2 Capital, Quadrille Capital and Heuristic Capital.

Initially established in London, Hinge Health now focuses primarily on serving U.S. employers and health insurance providers, positioning itself as a digital healthcare solution for chronic MSK conditions. The platform integrates wearable technology, a mobile application, and guidance from health coaches to deliver physical therapy and behavioral health support remotely.

The core idea behind Hinge Health is that substantial research already exists outlining effective treatments for chronic MSK disorders, but current healthcare systems often struggle to implement these due to financial constraints and systemic challenges. This frequently leads to an overreliance on opioid pain medications or surgical interventions, which often yield unsatisfactory outcomes and can be even more expensive. Hinge aims to change this by leveraging technology and improved data analysis, with a strong emphasis on enhancing patient compliance with treatment plans.

The increase in Hinge’s valuation is noteworthy. Sources indicate that the February funding round resulted in a valuation of approximately $420 million, meaning the current valuation represents an increase of over 6x.

This article was updated on December 6th, 2021, following Hinge Health’s confirmation of the funding round and clarification of the Series D amount as $300 million.