Vori Health announced it has raised $53 million in an oversubscribed Series B funding round led by NEA, with participation from Echo Health Ventures, Max Ventures, AlleyCorp, and Intermountain Health's Intermountain Ventures.
The hybrid musculoskeletal care provider offers both virtual and in-person services, connecting patients with specialty medical doctors, health coaches, physical therapists, and nutritionists. Patients can access comprehensive care including diagnosis and treatment plans, non-opioid pain prescriptions, virtual physical therapy, diagnostic imaging orders, pre- and post-operative support, lifestyle coaching, and second opinions.
With this new funding, Vori Health plans to expand its value-based care initiatives across the United States, focusing on "evolving toward increasingly sophisticated economic models with two-sided population health risk." The company will also invest in advanced data analytics to better identify high-risk members and enhance its AI technology and clinical programs.
"By integrating board-certified specialty physicians, cohesive care teams and cutting-edge technology, we're achieving outstanding outcomes nationwide. The swift adoption of our platform by Fortune 200 companies and national health plans clearly indicates that the market is primed for our comprehensive solutions," said Dr. Ryan Grant, cofounder and CEO of Vori Health.
This funding round follows Vori Health's Series A round of more than $50 million in 2021. Since then, the company has established numerous strategic partnerships, including collaborations with telehealth platform TeleMed2U, health insurer Allstate Benefits, health benefits platform Contigo Health, virtual care company Firefly Health, and Blue Cross Blue Shield of Massachusetts.
Vori Health operates in the competitive digital musculoskeletal space alongside companies like Hinge Health, which provides access to health coaches, orthopedic surgeons, physical therapists, and technological resources including surgery decision support. Hinge Health secured $900 million in 2021 through Series D and E funding rounds, reaching a valuation of $6.2 billion.
Another competitor, Sword Health, offers virtual MSK care and physical therapy services for prevention, acute conditions, chronic pain, and post-operative recovery. In late 2021, Sword raised $189 million in Series D funding, achieving a $2 billion valuation.
The musculoskeletal care market continues to attract significant investment, with companies developing innovative approaches to deliver comprehensive care solutions to patients across the country.
Click here for the original news story.