Hinge Health has submitted to provide and publish digital solutions for treating chronic musculoskeletal (MSK) conditions.
Hinge has yet to announce several shares and has not set a price, but Renaissance Capital’s IPO specialists estimate that the company hopes to raise up to $500 million from its offering.
According to the IPO’s prospectus, Hinge’s revenues in 2024 were $390 million, up 33% from the previous year, but its net losses shrunk from $108 million in 2023 to $108 million.
The company’s technology aims to reduce MSK pain by using advanced wearable sensors and computer vision technology that are monitored remotely by a clinical care team of physical therapists, physicians and board-certified health coaches.
Hinge was last valued at $6.2 billion in October 2021 when it raised a $400 Series E from Tiger Global and Coatue Management. According to Pitchbook data, the company has raised a total of $828 million from venture capital.
The company’s largest external shareholders are Insight Partners, which holds 19% of its shares, and Atomico, which holds 15% of all its shares. Other venture capital companies that own approximately 8% of Hinge’s stake include 11.2 Capital, Coatue, Tiger Global and Bessemer Venture Partners, according to filing. Co-founders Daniel Perez and Gabriel Mecklenburg own 18.9% and 8.2%, respectively.
Hinge’s main competitor is Sword Health, which was valued at $3 billion last year. Sword CEO and founder Virgílio Bento told TechCrunch last year that it could launch a public list in 2025 if the company grows as expected and the macroeconomic environment is favorable.
Other competitors from Hinge Health include Kaia Health Software, Omada Health and Vori Health.
Source link
