Joint Academy secures SEK 200 million in a round led by Kinnevik.

Joint Academy, a Stockholm, Sweden-based operator of a digital platform connecting patients with chronic joint pain with physical therapists, announced that it raised a capital investment round of SEK 200M ($22.7M).

The money was raised from investors from Sweden led by Kinnevik, and including existing shareholders Alfvén & Didrikson, Karl-Johan Persson, Sophia Bendz and Sweet Capital. Proceeds will be used to expand the platform availability in Europe and the US market.

Joint Academy, founded in 2014 as Arthro Therapeutics AB by CEO Jakob Dahlberg, developed a digital health platform connecting osteoarthritis patients with physiotherapists who provide them with individual care and recommend exercises. The platform provides access to digital therapy treatment, allowing physiotherapists to provide more individual care without requiring more of their resources.

Joint Academy had a 2019 turnover of SEK 16 million ($1.8M) and is used by 180 physiotherapists which have treated 25000 patients since the platform inception.

Prior to this round, Arthro raised a litlle more than $7 million in 2018.