Exakt Health secures USD 1.5 million from international investors
Berlin, 3rd March 2022 – The health-tech startup Exakt Health again convinces investors with its approach to rethink physiotherapy. A pre-seed financing round with an investment of USD 1.5 million was successfully closed. BackBone Ventures led the round, followed by AUXXO. Existing investors including Possible Ventures, Maximilian Tayenthal, Cornelia Hoppe, and Gloria Bäuerlein backed the investment round.
"Our mission is to provide quality digital physiotherapy which people can use to treat their sports injuries," says Philip Billaudelle, co-founder of Exakt Health. "This funding round is the next big step in making MSK healthcare easily accessible throughout Europe and the U.S."
Exakt Health offers a physiotherapy app, available in 4 languages, which is used to treat typical sports injuries by following customized daily exercises. After already being approved as a medical device in Europe, the next step is the FDA approval in the US. "With Exakt Health, we add the future global leader in digital MSK healthcare to our portfolio and are excited to lead the round," said Dr. Jan Claudio Muñoz, Partner at BackBone Ventures.
Get better, feel stronger
In the UK the average waiting time for a routine physiotherapy appointment is over six weeks, in some regions patients even wait up to four months (1). The skills shortage is a reality. Patients facing such unacceptable waits are at risk of their conditions developing into more serious problems or becoming chronic. The results are long-term mobility problems. "Patients do best if they receive immediate help with sports injuries to relieve pain and provide comprehensive rehabilitation as this enables them to return to their activities quickly," notes Maryke Louw, physical therapy director at Exakt Health. "Physiotherapists can't serve the demand because of the acute shortage of specialists. Exakt Health, however, can."
Ambitious expansion plans
Since its launch, the app has had over 8,000 active users across the EU and UK. This corresponds to a 400% growth in just 3 months. The fresh capital will now go towards market entry in the U.S. and the expansion of treatment plans. "With this group of investors, we gain extensive knowledge which we will use to grow our app," Lucia Payo, CTO and co-founder of Exakt Health, says of the investors.
The app already offers physiotherapy help for a variety of sports injuries, including Achilles tendonitis, plantar fasciitis, and meniscus tears. New training plans to treat conditions such as ankle sprains, gluteal muscle strains, and patellar tendinopathy are expected to be rolled out with the upcoming updates.
About Exakt Health
Exakt Health, the sports physiotherapy app, was founded in January 2021 by former N26 employees Philip Billlaudelle and Lucia Payo. The app provides easy access to professional physiotherapy. Exakt Health features individualized training plans for patients to treat their sports injuries and is available on iOS and Android across Europe and UK. The Berlin-based startup has raised $2,000,000 to date and is backed by BackBone Ventures, Auxxo Female Catalyst Fund, Possible Ventures, Maximilian Tayenthal (Founder N26), Gloria Bauerlein (former Head of Strategy Kry), Cornelia Hoppe (Done! Berlin), Lina Behrens (MD Flying Health), Kelly Ford (former Marketing Director PayPal DACH), Gemma Bloemen (Principal Creandum), Michelle Capiod (Co-Founder Blume Equity), amongst others.
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