Neatsy
Setting the Scene
One in five people suffer from muscle pain; however, many healthcare systems overlook these cases, primarily focusing on emergency care.
There are a few reasons for this:
Treatments disregard the individualized nature of muscle pain, leading to less effective care.
Physical therapy, a key component in managing such pain, often requires time-consuming, in-person sessions, lacking convenience and immediacy.
This week’s company offers an innovative approach to muscle pain care, combining AI technology with personalized treatment options.
In a Sentence
Neatsy is an AI-powered app that transforms your smartphone into a tool for muscle pain diagnosis, recovery tracking, and Telehealth enablement.
Pain diagnosis: Utilizes the iPhone camera to generate 3D scans that assess the user’s posture and musculoskeletal conditions.
Recovery: Analyzes possible health risks and provides personalized solutions for symptoms by recommending orthotics, shoes, workouts, and more.
Telehealth enablement: Allows orthopedic surgeons and PTs to monitor patients, functioning as a supportive tool for doctors.
Bulleted Version:
- In the same way a cashier scans an item’s barcode to gain insight into product details, Neatsy’s technology scans a user’s body to detect health risks and provide treatment options. 🏷️
The Basics
- Headquarters: Boston
- Employee Count: 3 FTEs and 6 PTEs
- Investors:
Techstars, Purdue, Open Venture Capital, Flyer One Ventures, Cabra VC
- Funding amount: $1.6M in pre-seed funding
- Business model: B2C ($30/mo subscription) and B2B SaaS with health plans ($35/virtual check in)
- Early traction: 150k downloads, 40k monthly active users
Due Diligence
WHAT WE LIKE
📈 Market Opportunity: With 1.7 billion people affected by musculoskeletal pain, representing a $380 billion healthcare cost in the US, Neatsy taps into a significant need for effective pain management.
🙆🏼♀️ Disrupting physical therapy: Neatsy offers a solution to the time-consuming and expensive nature of traditional physical therapy, providing an efficient alternative.
🫵 Personalized: Leveraging AI, Neatsy delivers personalized treatment plans, adapting to each user's unique condition and progress.
Neatsy was successfully granted a patent for their technology to help build defensibility around this personalized approach.
POTENTIAL RISKS
🔁 Churn: While the app’s physical therapy component should prevent churn, the challenge for Neatsy lies in retaining subscribers post-diagnosis and treatment.
😳 Market adaptation: Gaining trust in AI-driven healthcare solutions is critical for Neatsy’s acceptance and growth in a traditionally conservative market.
⚠️ Liability: Navigating the legal complexities associated with digital health services, especially around data privacy and medical advice might pose a challenge.
Founder Profile
Artem Semjanow, CEO: Previously CEO at Prisma Labs.
Comps
Hinge Health: Backed by Tiger Global Management, BVP, Insight Partners, Atomico, and others.
Sword Health: Backed by Khosla Ventures, Transformation Capital, General Catalyst, Sapphire Ventures, and others.
Kaia Health: Backed by Balderton Capital, Optum Ventures, 3VC, Idinvest Partners, Optum Ventures, and others.
Why Neatsy
By offering an AI-powered app that helps solve chronic pain, provides recovery, and acts as a supportive tool for doctors; Neatsy is pioneering the next step in the health tech industry. 🦶🏻