Kinvent, known in Europe for its connected physiotherapy/physical therapy solutions, recently announced the securing of an 18 million euro investment during its third round of fundraising. This investment will enable the company to enter a new phase of acceleration, including market penetration in the United States in 2024, increased R&D projects, as well as massive external expansion. To support the company in this phase, French private equity firm Erase is joining the company’s leadership.
Founded in 2017, Kinvent’s innovative solution brought measurable, objective data into physical therapy with the goal of increasing patient engagement, ensuring better continuity of care, and enabling the implementation of personalized rehabilitation programs. Since its inception, Kinvent has continued a rapid expansion.
In the midst of growth in what the company calls a still poorly connected market, Kinvent recorded an 80% growth between 2022 and 2023. Its 8 sensors, which cover the majority of tests performed in physical therapy sessions, have attracted more than 14,000 rehabilitation professionals (sports specialists, general practitioners, or those working in nursing homes or post-surgical units), healthcare professionals, and even professional sports clubs, spread across 68 countries.
The company has notably partnered with renowned clubs such as Montpellier Hérault Rugby, the French Athletics Federation, and the New York Mets, boosting the company’s acclaim internationally.
The private equity firm Eurazeo, who was responsible for the investment, is a company dedicated to the development of health sectors in France. The fund takes a minority stake in the capital, alongside the founding president and existing minority shareholders including Unifund, Sofilaro, BADGE, and Raphaël Varane, among others.
With this latest investment with Eurazeo, Kinvent is now setting out to conquer the global connected physiotherapy device market, starting with the penetration of the American market. To achieve its ambitions, Kinvent is relying on the health expertise and experience of the Nov Santé team in structuring a rapidly growing company and executing a broad commercial development plan.
“Our teams are delighted to welcome Eurazeo, a leading investment player, so we can build towards the goal of being the world leader in connected solutions for physiotherapy and sports practitioners together. We are at a structuring stage in our history, in a rapidly expanding market, and have been convinced by the Nov Santé team’s ability to accompany Kinvent’s development, its knowledge of the health market, and its internal expertise,” says Athanase Kollias, president and founder of Kinvent.
“Nearly three years after the fund’s launch and a start on development capital, we are opening a new chapter with our first Growth Equity deal. We are very proud that Kinvent has chosen us as the lead investor. The company’s expertise, its position as a leader and innovator, as well as the quality of its management team convinced the entire Eurazeo team. This investment aligns perfectly with Nov Santé’s strategy to participate in the digitization of a healthcare profession and accelerate the transformation of French and European SMEs,” adds Arnaud Vincent, managing director of the Nov Santé Fund at Eurazeo.
Featured photo: Dreamstime