Hike Medical raises $22.5M

SAN FRANCISCO – Hike Medical, an automated referral platform, has raised $22.5 million in seed and Series A funding to reimagine the entire supply chain for orthotics and prosthetics and durable medical equipment (DME), so more people can access the care that keeps them moving.

"Patients shouldn't have to wait weeks for a device because the systems behind their care don't talk to each other," said Bhanti. "Being part of a family that's touched this industry for three generations means we have a duty to make it better. We've proven this model in custom foot orthotics, making the process faster, more accurate and built around the patient instead of the paperwork. Now we're taking it across the rest of device-based care. At the end of the day, we're engineering human movement."

The round was led by Max Altman at Saga Ventures, with additional participation from Indicator Ventures, Fifth Down Capital, RiverPark Ventures and other funds, strategic investor and commercial partner Orthofeet, Inc., and angel investors such as Monaco CEO Sam Blond and Super Bowl champion and former head coach of the New England Patriots Jerod Mayo.

Hike’s platform connects back-office, point-of-care and device fabrication for O&P, podiatry and DME providers, serving as an all-in-one solution for device-based care, including:

• Hike Intelligence – AI agents that process a referral automatically and fight to get it approved and paid, before a doctor ever sees the patient — freeing clinicians to spend that time on patient care instead of paperwork.

• Hike Clinical – lets clinicians scan, document and order devices in one workflow at the point of care; a scan from any mobile device is enough to produce a highly accurate custom insole, replacing legacy foam boxes and standalone lidar scanners.

• Hike Lab – manufactures custom devices in-house at the largest orthotic 3D print farm in the country, based in Peoria, Ill., with turnaround in about five business days.

The new investment will build on that momentum, funding hiring across engineering and sales roles in San Francisco and manufacturing in Peoria, as Hike expands the platform beyond insoles to serve the broader DME market.

"The next generation of category-defining companies won’t just build software on top of broken industries. They’ll own the entire value chain, end to end, like Hike does," said Max Altman, co‐founder and managing partner at Saga Ventures. "Full vertical integration is what it takes to recreate a business at scale in healthcare. We’re backing Hike to do this across the entire device market. Aadi and the team have the ability to own the entire category."