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BetterPT Secures $5M in Series A Financing

NEW YORK, NY, April 30, 2019 – BetterPT™, a healthcare technology platform company providing end-to-end digital connectivity between physical therapists (PT), patients, and physicians, announced today it has completed a $5 million Series A round of financing.

The Series A round was led by 5Lion Ventures and joined by Hospital for Special Surgery (HSS) and ID Fund. BetterPT will use the capital to expand its reach and adoption as the leading specialized PT marketplace in the U.S.

“BetterPT’s technology has the potential to address major shortcomings not just in physical therapy, but across the broader healthcare system, which continues to lag in innovative and interoperable technology,” said Ronald W. Russo, Partner and COO of 5Lion Ventures. “We’re excited to work with BetterPT as we watch the business grow and scale across the healthcare infrastructure.” 

“This financing is an important milestone for BetterPT as we increase the footprint of our unique healthcare offering in the U.S., connecting patients to physical therapists through a streamlined point of entry,” said Greg Peters, CEO of BetterPT. “We look forward to strategically growing our PT clinic customers as well as our patient user base.”

"HSS is focused on advancing quality and reliability across the spectrum of musculoskeletal health," said Louis A. Shapiro, President and CEO of HSS. "Our strategic relationship with BetterPT is an important part of that, making it easier for consumers to independently identify and access the highest value physical therapy most convenient to where they live or work."

 

About BetterPT

BetterPTTM is a healthcare technology platform company, committed to transforming patient access and experience with healthcare services by providing end-to-end digital connectivity between physicians, physical therapists (PTs) and patients. Partnering with the world leader in musculoskeletal health, Hospital for Special Surgery (HSS), BetterPT is the fastest growing specialized PT marketplace in the U.S. Patients can find clinics in their local area that best fit their needs and accept their insurance and immediately request an appointment, all with just a few clicks, while BetterPT’s inbound patient management (IPM) solution offers a number of operational efficiencies to clinics. With its interoperable, HIPAA compliant application and EMR compatibility, BetterPT enables patients greater access to PT, an important and oftentimes overlooked part of clinical rehabilitation and preventive care, and its unique marketplace model has potential to expand across the larger healthcare landscape to help advance connectivity between other kinds of patients and providers. For more information, please visit www.BetterPT.com.

Key Takeaways
  • Fastest growing U.S.specialized physical therapy marketplace poised for expansion
  • The Series A round was led by 5Lion Ventures and joined by Hospital for Special Surgery (HSS) and ID Fund.
  • BetterPT will use the capital to expand its reach and adoption as the leading specialized PT marketplace in the U.S.
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BetterPT is better physical therapy. But what we're after is better healthcare.
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HSS is focused on advancing quality and reliability across the spectrum of musculoskeletal health. Our strategic relationship with BetterPT is an i...
Louis A. Shapiro.President and CEO of HSS
This financing is an important milestone for BetterPT as we increase the footprint of our unique healthcare offering in the U.S., connecting patien...
Greg PetersCEO of BetterPT
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Darcie Robinson, ICR, Inc.
Darcie.robinson@icrinc.com
203-919-7905
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