Kaia Health’s Series C funding paves the way for the digital healthcare era
We are truly excited to continue our joint path with the stellar Kaia Health team led by co-founders Konstantin Mehl and Manuel Thurner. The massive $75 million Series C round was led by an unnamed leading growth equity fund with support from all existing investors, including 3VC, Optum Ventures, Balderton Capital, Heartcore Capital and Rory McIlroy.
Looking at Kaia Health and the digital health market, I would say that software is eating pills.
Partner at 3VC
Supporting Kaia Health’s mission
We still remember very well meeting the founders Konstantin and Manuel for the first time: they had a big dream to bring change to the global healthcare system and make the best possible treatments for chronic back pain accessible to everybody, by just using mobile devices. Chronic pain is still such a huge problem, and only so little can be done with conventional therapy. Fortunately, Kaia Health’s innovative approach empowers patients to proactively take care of their health!
For the past year, our team has been supporting Kaia Health’s mission by coaching the founders on key C-level hires, helping with feedback and insights related to tech strategy and architecture, go-to-market, funding, and M&A. And of course, we are passionate users and Kaianeers ourselves.
Opportunities for Kaia Health
As the 2020 pandemic has accelerated the need for digital care, the demand for Kaia Health has exploded. Today, 60 million patients can access Kaia Health’s digital platform, making it by far the biggest player in the space. Its virtual physical therapy is the only technology in the chronic disease management market to provide real-time exercise feedback that has been third-party validated for its accuracy.
And there are so many more opportunities: chronic back pain is just the beginning. The demand for better care for COPD is huge, especially with Long-Covid patients who show similar symptoms. As of now, Kaia Health is available in Germany and the US. There are many more markets that have a pressing need for Kaia’s digital therapy solutions.
Kaia Health is choosing an inclusive approach, working with existing care providers instead of trying to replace them. It is not about eliminating physical therapists' jobs but supporting them in caring for and helping their patients with additional daily exercises and support. Kaia Health is becoming the platform company for creating, evaluating, and distributing digital therapeutics and shaping the field of how digital therapeutics are distributed, consumed, paid, and reimbursed.
Digital therapeutics: a trillion-dollar market
We are convinced that within 10 years, digital therapeutics will be as widespread as the internet and mobile phones are today, creating a trillion-dollar opportunity.
Big pharma will jump on the wagon and new digital pharma players will emerge.
There will be a category of augmented medicine: traditional pills supplemented by software products. Mobile devices will enable everyone to diagnose and treat their pain wherever they are, equally and regardless of social status.
