VCs in $75m round for Kaia Health

A further undisclosed growth investor led the round, according to a statement from existing investor 3VC. The round also saw participation from all of the company's existing investors, 3VC, Optum Ventures, Balderton Capital, Heartcore Capital and Rory McIlroy's Symphony Ventures.

The company aims to grow its product offering and continue its growth following the round.

Co-founder and CEO Konstantin Mehl told Unquote sister publication Mergermarket in June 2020 that Kaia would reassess its capital needs within the next sixth months, with another funding round expected in 12-15 months' time. He also said that the series-B amount of $26m represented around 15-25% of the company's valuation at that time.

The deal is the largest funding round for a digital health startup recorded in the DACH region to date in 2021, according to Unquote Data. In fact, data for the past five years in the DACH region shows that no other digital startup has raised a round of this size in the past five years.

Previous funding
42Cap and Otto Capital led a $4m seed round for Kaia Health in June 2016.

Balderton Capital led a $10m round for Kaia in January 2019, deploying equity via Balderton VI, which held a final close in November 2017 on $375m.

Optum led a further $8m round for Kaia in September 2019.

Optum, Idinvest and 3VC (then known as Capital300) led a $26m funding round for the company in June 2020. Existing investors Balderton, Heartcore and Symphony also participated.

Company
Kaia was founded in 2016. It is headquartered in Munich, with additional operations in New York. The company provides online therapy courses to treat and provide rehabilitation for chronic conditions including musculoskeletal pain and pulmonary illnesses such as chronic obstructive pulmonary disease. Its AI-based platform uses motion-capture software to monitor patients' movements and provide instructions.

People
Kaia Health – Konstantin Mehl (co-founder, CEO); Manuel Thurner (co-founder).
Optum Ventures – Heather Roxborough (partner).
Idinvest – Antoine Zins (venture capital investor); Matthieu Baret (managing partner).
3VC – Peter Lasinger (general partner).
Balderton Capital – James Wise (partner).
Heartcore Capital – Christian Jepsen (partner).

Advisers
Company – Dentons (legal); Cooley (legal).

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• Topics
• Expansion
• DACH
• Technology
• Healthcare
• Venture
• Germany
• Balderton Capital
• IDInvest Partners (AGF Private Equity)