Joint Academy, a Malmo, Sweden-based digital health company tackling the increasing prevalence of chronic joint pain, raised $23M in Series B funding.
The round was led by international investment company Kinnevik with participation from existing investors Karl-Johan Persson (chairman of H&M) and Alfvén & Didrikson.
The company, which has raised $34.2m to date, intends sto use the funds to accelerate growth in the U.S. and to further expand its offering throughout Europe.
Co-founded by CEO Jakob Dahlberg and his father and Chief Medical Officer Leif Dahlberg, Joint Academy is a clinical evidence-based digital treatment for chronic joint pain, which connects patients with licensed physical therapists. Since being founded in Malmo, Sweden in 2014, the company has treated 25,000 patients who suffer from chronic hip and knee pain by connecting them with licensed physical therapists through its app.
Initially, a patient receives an evaluation from one of the 400 physical therapists on the platform who will continuously follow up on the treatment and answer any questions the user may have.
Each day, patients are given personalised exercises that are designed to reduce pain and adjust as the patient’s condition improves. Progress can be tracked from one week to the next, which boosts motivation and improves treatment results, while reminders keep them on-track.