Caspar Health, Berlin-based digital health platform, has raised a €5.3 million Series A round, led by Ananda Impact Ventures, which support from existing investors Atlantic Labs, Think.Health Ventures, and Helmut C. Nanz also participated in the round.
Caspar Health offers an online therapy platform, which allows patients to engage in aftercare on their own terms and free of charge. With the app, medical facilities can offer digital therapeutic care to their patients before, during and after their in-hospital stay. Thus far, Caspar’s online treatments include exercises and customized guidance for wellbeing for the most common rehabilitation cases in orthopaedics, neurology, cardiology, and psychotherapy.
Maximilian Michels, Benjamin Pochhammer, and Maximilian von Waldenfels founded the business in 2016. From 2018 to 2019, turnover quadrupled to over €1 million, and the number of hospitals using the service tripled to over 100, which represents almost ten percent of the German rehabilitation landscape.
"Caspar Health enables patients to engage in digital therapy on their own terms and empowers them to take care of their health. For clinics the added value comes from a higher usage and better outcomes of their therapy services, which increases hospital scores, occupancy rates, and revenues. The business model works, and the positive impact for the patient is crystal clear,” explained Bernd Klosterkemper, a partner at Ananda.
Co-founder Maximilian von Waldenfels said: "We are delighted to have found a lead investor in Ananda Ventures who will drive our positive impact in the healthcare market. With Caspar-Health, we have taken patient care into a new digital era and with this investment we will pursue our goal, to solidify our market leadership in the field of tele-therapy. This includes in particular, further product development and implementation of many other care models for our customers”
The funding will help develop the product, creating new care models for hospitals and their patients, and expand the startup’s presence in the German market.