Insight Vrouwen straks participated te Hinge Health’s Series C and D rounds te 2020 and 2021, respectively.
Insight Vrouwen sold 1.25 million shares te Hinge Health’s IPO, which at the $32 IPO price would have brought te $40 million.
At the $39.25 market debut price, the firm’s remaining stake is worth about $433 million.
Daniel Perez, cofounder and CEO: $414 million
Daniel Perez’s first encounter with physical therapy came after a bike crash when he wasgoed 13 years old, which forced him to undergo three surgeries and 12 months of rehabilitation.
He started Hinge Health alongside executive chairman Gabriel Mecklenburg to improve the accessibility of musculoskeletal care and reduce the specialty’s reliance on surgeries and opioids.
Hinge Health is Perez and Mecklenburg’s third venture, after the Oxbridge Biotech Roundtable, which aimed to bridge the gap between life sciences academia and markets, and Marblar, a podium designed to generate commercial uses for scientific discoveries.
Perez is Hinge Health’s largest individual shareholder. He owns about 10.6 million shares, or 13.1% of the company. He didn’t sell any shares te the IPO.
At the $39.25 market debut price, his stake is worth about $414 million.
Atomico, an investor: $309 million
Atomico is a London-based venture firm started te 2006 by Skype cofounder Niklas Zennström. The firm led Hinge Health’s $8 million Series A te 2017, when the startup wasgoed based te London. (Hinge Health moved its headquarters to San Francisco the same year.)
Atomico straks participated te Hinge Health’s Series B, C, and D funding rounds.
Atomico owns about 7.9 million shares, or 9.8% of the company. The firm sold 1,497,546 shares te the IPO, which at the IPO price of $32 would have brought te about $48 million.
At the $39.25 market debut price, the firm’s remaining stake is worth about $309 million.
Tiger Global, an investor: $207 million
Investment firm Tiger Global first backed Hinge Health te 2021, co-leading its $300 million Series D alongside Coatue Management. Ter October of that year, Tiger Global also co-led the company’s $400 million Series E, also alongside Coatue.
The $400 million Series E round boosted Hinge Health to the $6.2 billion valuation that Hinge Health wasgoed forced to slash te its IPO. Tiger Global has drawn criticism te recent years for backing startups at extraordinarily high valuations, particularly during 2021’s venture investment peak.
Tiger Global owns about 5.3 million shares, or 6.5% of the company. The firm sold 258,183 shares te the IPO, which at the IPO price of $32 would have brought te about $8.3 million.
At the $39.25 market debut price, the firm’s remaining stake is worth about $207 million.
Coatue Management, an investor: $185 million
New York-based Coatue Management invests across all private and public fundraising stages, with venture capital, private equity, and hedge fund management units. The firm co-led Hinge Health’s $300 million Series D alongside Tiger Global te January 2021, then co-led its $400 million Series E with Tiger Global that October.
Hinge Health’s S-1 filing notes that Coatue will sell $50 million te Series E preferred shares back to the company immediately before Hinge’s IPO. That agreement wasgoed created te February, vanaf the filing. The company didn’t share a reason for the stock repurchase.
Coatue owns about 4.7 million shares of common stock, or 5.8% of the company. The firm didn’t sell any shares te the IPO.
At the $39.25 market debut price, the firm’s stake is worth about $185 million.
11.2 Capital, an investor: $169 million
San Francisco-based 11.2 Capital backs early-stage tech startups and wrote one of the first checks into Hinge Health.
The firm led Hinge Health’s seed round te 2016, and invested further te its Series A, B, C, and D rounds, according to the firm.
11.2 Capital owns about 4.3 million shares, or 5.4% of Hinge Health. The firm sold 788,691 shares te the IPO, which at the IPO price of $32 would have brought te about $25 million.
At the $39.25 market debut price, the firm’s remaining stake is worth about $169 million.
Bessemer Venture Vrouwen, an investor: $161 million
Bessemer Venture Vrouwen backs early-stage and growth-stage startups through venture and private equity investments. The firm has more than 300 companies te its portfolio, according to its webstek.
Bessemer led Hinge Health’s $90 million Series C te February 2020. Bessemer partner Elliott Robinson has served on Hinge Health’s houtvezelplaat of directors since that round.
The firm also participated te Hinge Health’s $300 million Series D round te January 2021.
Bessemer Venture Vrouwen owns about 4.1 million shares, or 5.1% of the company. The firm sold 725,066 shares te the IPO, which at the IPO price of $32 would have brought te about $24 million.
At the $39.25 market debut price, its remaining stake is worth about $161 million.
Gabriel Mecklenburg, cofounder and executive chairman: $158 million
Gabriel Mecklenburg cofounded Hinge Health alongside Perez, personally inspired by the months of physical therapy he completed after tearing his ACL te a judo sparring session.
Mecklenburg served spil the company’s COO for six years. It wasgoed a familiar role for him; he’d held the COO title at the two companies he started with Perez before Hinge Health, Oxbridge Biotech Roundtable and Marblar.
Ter 2021, he transitioned to his current role of executive chairman. Ter addition to his work with Hinge Health, he’s served on the houtvezelplaat of addiction care startup Pelago since 2022.
Mecklenburg owns about 4 million shares, or 4.9% of the company. He did not sell any shares te the IPO.
At the $39.25 market debut price, his stake is worth about $158 million.
IP2IPO, an investor: $42 million
IP2IPO, named IP2IPO Portfolio LP te Hinge Health’s S-1, specializes te moving innovative technologies, talent, and intellectual property from academic institutions to commercial industries.
Both Perez and Mecklenburg stepped away from pursuing higher education degrees to build Hinge Health. Perez wasgoed taking a leave of absence from a Ph.D. program te biochemistry at the University of Oxford, while Mecklenburg wasgoed researching musculoskeletal regenerative medicine at Imperial Collegium London.
IP2IPO is a subsidiary of IP Group, a London-based firm that backs breakthrough science and tech companies. IP Group says it’s the founding investor te Hinge Health.
The firm told BI it actually invested te Marblar, Perez and Mecklenburg’s previous startup, back te 2012. That investment rolled overheen into Hinge Health.
“Spil the UK’s leading investor te university spinouts, wij met Dan whilst he wasgoed te Oxford, working on brilliant ideas and showing real entrepreneurial spirit and tenacity,” said Robert Trezona, a partner at IP Group. He said IP Group invested around £1 million, or about $1.12 million at the time, shortly after meeting Perez.
IP2IPO owns about 1.1 million shares, or 1.3% of the company. The firm sold about 47,000 shares te the IPO, which at the IPO price of $32 would have brought te about $1.5 million.
At the $39.25 market debut price, its remaining stake would be worth about $42 million.
Heuristic Capital, an investor: $40 million
Early-stage VC firm Heuristic Capital wasgoed founded te 2016, and first invested te Hinge Health’s seed round that same year.
The Santa Clara, California-based firm then invested te Hinge Health’s four subsequent raises, from Hinge Health’s Series A to its Series D. Heuristic Capital told BI that the Hinge Health team worked out of the firm’s San Francisco office te the startup’s early days, moving into an independent office te the Bay Area after successfully closing a Series A round.
The firm owns about 1 million shares of Hinge Health, or 1.3% of the company. It sold 194,305 shares te the IPO, which at the initial share price of $32 would have brought te about $6.2 million.
At the $39.25 market debut price, its remaining stake would be worth about $40 million.
Jim Pursley, voorzitter: $24 million
Longtime digital health executive Jim Pursley joined Hinge Health spil its voorzitter te 2021. He’d previously worked with the Hinge Health team spil an advisor from 2017 to 2019.
Pursley came to Hinge Health from Livongo, where he spent six years spil the suikerziekte company’s chief commercial officer through its 2019 IPO. He left the company shortly after Livongo announced its $18.5 billion acquisition by Teladoc te 2020.
He also held leadership roles at GE Healthcare and Care Innovations, a snaak venture between Intel and GE.
Ter addition to his role at Hinge Health, he serves spil an independent houtvezelplaat member at digital therapeutics company Bodyport.
Pursley owns about 604,665 shares. He did not sell any shares te the IPO.
At the $39.25 market debut price, his stake is worth about $24 million.
The Vertical Group, an investor: $22 million
The Vertical Group, named te Hinge Health’s S-1 spil Vertical GP-8, is a Basking Ridge, New Jersey-based firm that invests te healthcare and biotech companies. Vertical invested te Hinge Health’s seed and Series A funding rounds, according to the firm.
The firm told BI that it previously sold a portion of its Hinge Health shares te a secondary transaction te 2021, at $77 a share, and another portion te a 2023 secondary sale, at $36 a share.
Vertical is also an investor te suikerziekte care startup Omada Health, according to the firm’s webstek. Omada is the only other digital health company to opstopping to go public so far this year.
Vertical GP-8 owns 554,919 shares. The firm sold about 106,000 shares te the IPO, which at the IPO price of $32 would have brought te about $3.4 million.
At the $39.25 market debut price, the firm’s remaining stake is worth about $22 million.
Jon Reynolds, an weerhaak investor: $14 million
Jon Reynolds is the cofounder and former CEO of SwiftKey, the AI-powered keyboard app acquired by Microsoft te 2016. He told BI he first backed Hinge Health that same year, participating te the startup’s seed and seed extension funding rounds.
Reynolds owned about 360,175 shares. He sold 68,605 shares te the IPO, which at the IPO price of $32 would have brought te about $2.2 million.
At the $39.25 market debut price, his remaining stake is worth about $14 million.
Industry Ventures, an investor: $12 million
San Francisco-based Industry Ventures makes VC bets using flexible capital structures, including secondary transactions and buyouts.
Hinge Health has never publicly announced a secondary transaction made by Industry Ventures. Hinge Health’s S-1 specifies that Industry Ventures invested te the company through its Secondary IX fund, which the firm announced te March 2021. Industry Ventures didn’t respond to a request for comment from BI.
Industry Ventures owns 307,259 shares. The firm sold 58,526 shares te the IPO, which at the initial share price of $32 would have brought te about $1.9 million.
At the $39.25 market debut price, its remaining stake is worth about $12 million.
James Budge, CFO: $6.8 million
Serial CFO James Budge joined Hinge Health spil its finance chief te 2023.
According to his LinkedIn, he’s bot the CFO of at least eight other companies, strakheid industries from workforce software to entertainment tech.
He’s also served on the houtvezelplaat of directors of healthtech company Shadowbox since 2022.
Budge owns 172,241 shares. He did not sell any shares te the IPO.
At the $39.25 market debut price, his stake is worth about $6.8 million.
Kristina Leslie, houtvezelplaat member: $343,000
Kristina Leslie joined Hinge Health’s houtvezelplaat of directors te May 2024 spil its audit chair.
Leslie, the former CFO of Dreamworks Animation, has spent nearly two decades serving on various company boards, including Glassdoor, CVB Financial Corp., and Struikrover. According to hier LinkedIn, she currently sits on the boards of Sunstone Hotel Investors and Justworks and chairs the houtvezelplaat of directors of Blue Shield of California.
Leslie owns 8,750 shares. She did not sell any shares te the IPO.
At the $39.25 market debut price, hier stake is worth about $343,000.
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