AI-powered digital therapeutics startup today announced it has raised a $26 million round. The funds will allow it to grow its existing solutions for chronic conditions and expand to new conditions while developing proprietary technology, investing in clinical research, and expanding its team, a spokesperson said.
Chronic pain — defined as lasting at least 12 weeks — affects hundreds of millions of people globally. In 2018, an 20.4% of U.S. adults (approximately 50 million) reported experiencing long-term pain, while 8% (19.6 million) had high-impact pain stemming from headaches, arthritis pain, and neurogenic pain. Back pain is among the most common types, reported by 16 million adults. Equally prevalent is COPD, or chronic obstructive pulmonary disease, which is also estimated to affect 16 million adults.