BOSTON--(BUSINESS WIRE)--FIGUR8, the leading innovator in the measure of musculoskeletal (MSK) health, has successfully closed a $25 million Series A-1 funding. The round was led by First Spark Ventures (FSV) with participation from DigiTx Partners and Phoenix Venture Partners.
FIGUR8 will use the proceeds to drive growth and adoption of its core bioMotion Assessment Platform (bMAP). By leveraging lab-grade biomechanics data captured in the clinic setting, valuable insights into musculoskeletal health and injury recovery can lead to more personalized and data-driven recovery pathways.
"We are thrilled to have FSV leading this important investment round," said Nan-Wei Gong, founder and CEO of FIGUR8. "FSV’s experience in backing transformative technologies and strategic guidance will not only bolster our efforts to elevate the musculoskeletal industry, but also pave the way for significant advancements in digital MSK health, as FIGUR8 elevates the standard of care with codified, clinically-relevant data."
FIGUR8’s bMAP produces accurate, precise and objective data for musculoskeletal care and injury recovery. FIGUR8’s advanced data empowers providers to better communicate symptoms, diagnosis and progress, while enabling payers to improve claims and underwriting processes, optimize risk management strategies, and promote faster recovery among injured workers.
"Mobility is an essential part of who we are and how we function. FIGUR8 brings a proven, deeply scientific way to guide the best pathways for restoration of mobility," stated Manish Kothari, Founding Managing Partner of First Spark Ventures. “Objective MSK data enables a new level of personalized healthcare and risk evaluation, while simultaneously reducing cost and strongly improving satisfaction across patients, providers and payers.”
"As a physician and staunch advocate of evidence-backed solutions, I am thrilled to serve on FIGUR8’s board," said Dr. Christina Jenkins of Phoenix Venture Partners. "FIGUR8's unique approach to biometric sensing technology removes some of the “art” of diagnosis and assessment, transforming MSK care into a standardized and data-driven science that empowers patients and providers to improve health.
The company's model is rare, aligning incentives across payer, provider and patient, and helping to pave the way for adoption and the evolution of the standard of care. We’re excited for FIGUR8’s opportunity to set a new industry benchmark.”
Manish Kothari, PhD and Dr. Christina Jenkins will join FIGUR8’s board of directors.
FIGUR8 is the market leader for standardizing musculoskeletal (MSK) health and injury recovery data. Through its innovative bioMotion Assessment Platform (bMAP), FIGUR8 empowers individuals to monitor and optimize their injury recovery, physical performance and overall health, while also enabling providers, patients and payers to access valuable data for advanced insights, better recovery and more personalized care.
About First Spark Ventures:
First Spark Ventures is a Deep Tech venture capital fund investing in breakthrough technologies that make the world healthier, safer, and more productive. With a strong focus on backing companies that drive positive change and create lasting impact, First Spark Ventures plays a pivotal role in fueling the growth of visionary ventures.