Physera Secures $8M Series A Funding to Advance Musculoskeletal Exercise Platform

VCBeat (WeChat Official Account: vcbeat) has learned that telehealth company Physera recently announced the completion of an $8 million Series A financing round. The round was led by BlueCross BlueShield Venture Partners, with participation from Lux Capital, Slow Ventures, and ID Ventures. The funds raised will be used to develop a musculoskeletal exercise platform.

With this round of financing, Physera has completed three funding rounds, raising a total of over $10 million.

Physera is a telemedicine company headquartered in Palo Alto, California, USA. The company has developed a free application for Android and iOS systems that provides users with a comprehensive set of exercises designed to alleviate musculoskeletal pain, each featuring animated demonstrations and voice prompts. Users can download the Physera app from mobile app stores.

To provide users with a more personalized experience when using the Physera app, Physera also offers two types of telemedicine consultation services: one allows vetted physical therapists to remotely answer user questions, such as “how to avoid injury during exercise” and “how to administer emergency treatment for injuries”; the other enables users to upload their pre-employment medical examinations and routine health checkup reports to the cloud via the Physera app, facilitating review by healthcare professionals.

“Our goal is to help people maintain their physical health through targeted exercises in their daily lives. We chose musculoskeletal care as our starting point because this market segment remains largely untapped. Due to sedentary lifestyles, modern individuals are highly susceptible to joint-related conditions, often incurring substantial treatment costs,” said Dan Rubinstein, Co-founder and CEO of Physera. “Physera adheres to a ‘patient-first’ philosophy. To this end, we have established a user-centric care service system and engaged renowned healthcare professionals from the industry to ensure the quality of our programs. I believe that Physera’s musculoskeletal exercise platform will empower people to lead healthier lives.”

BlueCross BlueShield Venture Partners is a venture capital firm headquartered in Chicago, Illinois, United States. The firm primarily invests in technology companies and enterprises in their early and growth stages. As of March 2019, BlueCross BlueShield Venture Partners had made 60 investments, with a total investment amount exceeding $500 million.

Lux Capital, founded in 2000 and headquartered in New York, USA, is a research-oriented investment firm focused on investing in companies within the physical and life sciences sectors. The firm’s investment team has invested in more than 20 companies and is committed to helping its portfolio companies cultivate industry leadership.

Slow Ventures is a venture capital firm founded in 2009 and headquartered in San Francisco, California, USA. The firm primarily invests in technology companies and growth-stage enterprises.

ID Ventures is a venture capital firm headquartered in Seoul, South Korea. The firm primarily invests in technology companies and has completed nine investments to date, with a total investment amount exceeding $20 million.

(Compiled by Hu Xuan)