Electronic Health Reporter

BetterPT, a healthcare technology platform company providing end-to-end digital connectivity between physical therapists (PT), patients and physicians, announced today it has completed a $5 million Series A round of financing.

The Series A round was led by 5Lion Ventures and joined by Hospital for Special Surgery (HSS) and ID Fund. BetterPT will use the capital to expand its reach and adoption as the leading specialized PT marketplace in the U.S.

“BetterPT’s technology has the potential to address major shortcomings not just in physical therapy, but across the broader healthcare system, which continues to lag in innovative and interoperable technology,” said Ronald W. Russo, partner and COO of 5Lion Ventures. “We’re excited to work with BetterPT as we watch the business grow and scale across the healthcare infrastructure.”

“This financing is an important milestone for BetterPT as we increase the footprint of our unique healthcare offering in the U.S., connecting patients to physical therapists through a streamlined point of entry,” said Greg Peters, CEO of BetterPT. “We look forward to strategically growing our PT clinic customers as well as our patient user base.”

“HSS is focused on advancing quality and reliability across the spectrum of musculoskeletal health,” said Louis A. Shapiro, president and CEO of HSS. “Our strategic relationship with BetterPT is an important part of that, making it easier for consumers to independently identify and access the highest value physical therapy most convenient to where they live or work.”