Digital Health Start Up, Augment Therapy, Closes $2.7 Million Seed Plus Investment Round
Digital health company, Augment Therapy, announced on November 20, 2023, that it has completed a Seed Plus fundraising round of $2.7 million from existing and new investors.
CLEVELAND, OHIO, USA, November 20, 2023 /EINPresswire.com/ — Augment Therapy®, a digital health company enhancing rehabilitative healthcare through immersive and gamified technology, announced today that it has completed a Seed Plus fundraising round of $2.7 million from existing and new investors. The fundraise will support the company in growing the product line, deepening research validation, and increasing market traction.
Augment Therapy’s augmented reality exercise technology can be used in various settings, from pediatric children’s hospitals servicing inpatient and outpatient care, to adult rehabilitation, and skilled nursing facilities to the home for general wellness users. The company’s applications include ARWell PRO, intended for healthcare providers and their patients, and ARWell, for general wellness exercise with no prescription required.
The company raised a total of $2.7 million from existing and new investors including BlueTree Capital Group; CareSource; The Healthcare Collaboration Fund, jointly managed by JumpStart and University Hospital Ventures; VisionTech and various angel investors.
In these challenging times of securing capital, we take pride in the unwavering support of our investors who share our mission and remain steadfast in their commitment to fueling our growth.”— Lindsay Watson, PT, MPT, CEO and co-Founder of Augment Therapy.
“CareSource believes Augment Therapy’s innovative, immersive technology can transform the health care industry’s approach to physical therapy and significantly improve rehabilitation outcomes for members with disabilities and complex health needs,” said Josh Boynton, senior vice president for complex health solutions at CareSource. “We look forward to helping more members and providers access this dynamic digital solution across the country.”
Sreekar R. Gadde, Managing Partner, Blue Tree Capital Group, stated, “working closely with the Augment Therapy team, we knew it was important to find the right investors for the company and not just the right amount of money. We feel the investor relationships we are building will continue to add value to the company and its mission.”
“Augment Therapy’s extended reality platform has redefined the physical therapy experience for many patients at University Hospitals Rainbow Babies & Children’s Hospital,” said Matthew Zenker, Director, Deal Flow & Investments, UH Ventures. “Through the Healthcare Collaboration Fund, UH Ventures and JumpStart Ventures look forward to supporting the company’s expansion into new markets so as to enrich more experiences that can drive better health outcomes.”
See Augment Therapy in action in this video.
About Augment Therapy
Augment Therapy® is an award-winning digital health company that engages people of all ages and ability levels in immersive, gamified exercise from hospital to home. The company’s applications include ARWell PRO, intended for healthcare providers and their patients, and ARWell, for general wellness exercise with no prescription required. Leveraging MOCAST®, the company’s proprietary technology, ARWell and ARWell PRO offer a unique combination of full-body skeletal tracking and augmented reality-based games and exercises accessible for healthcare providers, their patients, and wellness users to extend outside of the healthcare experience. Utilizing a tablet or phone, ARWell products improve the exercise experience and offer healthcare providers a solution to better engage their patients while easily monitoring progress at any time. Valuable user data and analytics are built into both products. ARWell PRO has received SOC 2® Type 2 approval and is COPPA and HIPAA compliant.
Augment Therapy was co-founded by CEO, Lindsay Watson, a physical therapist with over 20 years of experience and CTO, Steve Blake, a 30-year medical and tech-education software expert. Incorporated in 2018, Augment Therapy is headquartered in Cleveland, Ohio. In 2023, Augment Therapy was selected as a finalist for AWE’s Auggie Awards, the most recognized AR & VR industry awards and a quarterfinalist for the Digital Health Awards recognizing the achievements of innovative health tech companies improving healthcare. Augment Therapy was also the recipient of the prestigious Unity for Humanity award in 2022.