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COMPANY: Neatsy
YEAR FOUNDED: 2019
INDUSTRY: Health and Wellness
HQ: Boston
FOUNDER: Artem Semjanow
FEATURE
12 Dec 2023

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. 🏷️
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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
  • Currently raising: $2M seed round
  • 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.

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Founder Profile

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. 🦶🏻