Healthcare Startup Vori Raises $45 Million to Advance Its Musculoskeletal Care Products

By Adriaan Brits | Friday, 07 May 2021 | Startup, Health & Wellness

Healthcare startup company Vori Health announced today its success in raising $45 million in a Series A business funding round led by New Enterprise Associates (NEA), with participation from existing investors AlleyCorp and Max Ventures.

Social Connection Important as Much as Clinical Care

The healthcare startup company said it plans to use the proceeds to invest in technology, products, services, and data buildout. Additionally, the healthcare company plans on increasing clinical and support-team business growth.

"Vori Health is ecstatic to announce our Series A with the world-renowned healthcare investment team at NEA," said Dr. Ryan Grant, founder and CEO of the company.

"With the funding, we are excited to further develop our platform and better support patients with musculoskeletal pain and injury, while remaining focused on our mission to deliver innovative care that is human-centered and evidence-based."

Roughly 54% of US citizens suffer from musculoskeletal pain and injuries and it is one of the most expensive areas in the healthcare business industry. The startup company is focused on providing a human-centered patient care experience with the help of high-end technology, premium content, community, and multidisciplinary care teams.

"We're thrilled to partner with Vori Health, which is bringing a clinically differentiated care model to the $300B musculoskeletal space. We've closely followed the ongoing shift to value-based care, and Vori's all-inclusive, evidence-based, tech-enabled solution is well-positioned for continued growth,” said Mohamad Makhzoumi, a general partner at NEA.

Makhzoumi will be joining Vori’s board of directors, which currently includes its Chief Medical Officer and co-founder Dr. Mary O'Connor, AlleyCorp partner Dr. Brenton Fargnoli, and CEO Dr. Ryan Grant.

Vori Health

Vori Health is a New York-based healthcare startup company that was founded last year. The company’s team is composed of select board-certified, licensed providers and offers business services that are accessible at the click of a button from patients’ homes.

The healthcare startup specializes in musculoskeletal care and offers physical therapy, full-service rehabilitation medical care, prescriptions, imaging and lab ordering, health coaching, nutritional guidance, and more.

In particular, the company is focused on building a community for those who suffer from musculoskeletal pain and injuries. The company also aligns with the philosophy that the social connection is as important as the clinical one. In this context, the startup business developed a platform that includes a social network, group classes, lessons, community forums, live messaging, and immersive care.

Its virtual-first program provides a number of care solutions that patients can customize to suit their specific needs. Patients are able to access an integrated care team, care navigation, and an extensive collection of educational content.

On the other hand, NEA is a global venture capital (VC) business that has invested more than $24 billion since its founding and whose business portfolio includes over 230 startup companies and more than 390 mergers and acquisitions. NEA backs technology and healthcare companies across all stages of the company's life cycle.

Summary

Vori Health, a New York-based healthcare startup that specializes in musculoskeletal care, announced it raised $45 million in a Series A round led by NEA. Existing investor participation in the company’s funding round includes AlleyCorp and Max Ventures. The healthcare business will use the raised capital to invest in new products and services, enhance existing technology, and fuel clinical and support-team growth.

About the Author

Adriaan Brits

As an analyst of global affairs, Adriaan has an MSC from Oxford, with diverse interests in the digital economy, entertainment, and business. He is a specialist trainer in Advanced Analytics & Media.