/Companies

Aware Health

Techstars '22

Dover, US · Founded 2020 · 46 employees on LinkedIn · 11 known investors

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Aware Health offers an app-based musculoskeletal (MSK) care program that uses an AI engine to analyze claims and symptoms, identify at-risk members, and match them with licensed physical therapists for personalized recovery plans delivered via telehealth, coaching, and guided exercises. It serves employers, providing enterprise analytics that track MSK cost savings, clinical outcomes, and member engagement.

Also known as Aware Health, Inc.

Investors · 11

Also in the syndicate · 3

Paul JohnsonSachin BhatTidal River Fund

Funding

SEC filings, press & company announcements

$3M disclosed across 1 of 2 rounds · 2024–2026

Source: company announcements and press reports — follow each round's link for the claim.

Company profile

researched Sep 2026

Aware Health is a healthcare company offering on-demand musculoskeletal (MSK) management sold directly to employers rather than through insurance. Members experiencing MSK symptoms can see a licensed Doctor of Physical Therapy the same day through tele-rehab, with almost all members accommodated by video call. The company positions its service as early, upstream intervention intended to treat pain before it intensifies and to keep employees working and out of the broader medical system.

The company uses proprietary algorithms and built-in diagnostic rules that guide clinicians in diagnosing orthopedic conditions virtually, with the stated aim of avoiding unnecessary downstream imaging and surgery. Aware Health contrasts its diagnostic-algorithm approach with competitors that rely on motion sensors, wearables or computer vision to assess exercise form. Alongside physical therapy, the company publishes patient education content covering low back pain, ergonomics, pelvic and bladder health, menopause, and virtual health coaching, and describes services including orthopedic clinical specialist care and lifestyle medicine coaching.

Following its October 2024 seed round, Aware Health said it would use proceeds to build out AI models, a new patient and provider engagement platform, and employer dashboards, and to expand to more mid- and large-sized U.S. employers.

Founding story

Aware Health was founded in 2020 by a team including CEO and co-founder Heidi Ojha, PT, DPT, with the stated aim of helping employers get members to the root causes of their symptoms and avoid surgeries the founders describe as unsupported by research.

Business model

Employers — particularly self-insured employers — partner with Aware Health and subscribe at a per-member rate, under a model the company describes as value-based and direct-to-employer, bypassing the traditional insurance-based paradigm.

Subscription revenue from employer clients paid at a per-member rate.

Traction

At the time of the October 2024 seed announcement the company said it had recently doubled eligible members to more than 15,000, and cited a 59% reduction in orthopedic healthcare claims from a peer-reviewed study, an average 6.19x ROI in lifetime healthcare cost savings for clients, and 95% of patients with wear-and-tear conditions intending surgery not proceeding to surgery. A study published in PM&R was cited as showing less than 8% of employees requiring imaging, under 2% needing surgery, and a litigation rate below 1%. Client references include Evraz and Staywell members.

Latest developments

After the October 2024 seed round, the company outlined plans to develop AI models, a patient and provider engagement platform and employer dashboards, and to broaden its employer client base; it has continued publishing clinical and patient education content through 2025 and 2026, including commentary on wearable- and computer-vision-based MSK competitors.

▸Full profile — market position, technology, go-to-market, geography, history

Market position

Aware Health operates in the digital musculoskeletal care market alongside larger players such as Hinge Health and Sword Health, positioning itself as a female-led, value-based, direct-to-employer alternative. Cited market context includes an estimated 126.6 million Americans affected by a musculoskeletal condition and more than $300 billion in annual U.S. direct healthcare expenditure and lost productivity from MSK disease.

The company states its diagnostic rule set improves the accuracy of physical therapy diagnosis, in contrast to MSK vendors that focus on motion sensors and exercise-form tracking, aiming to route members to the correct treatment at the outset and avoid unnecessary imaging and surgery.

Technology

Proprietary diagnostic algorithms and built-in diagnostic rules that guide clinicians through virtual assessment of orthopedic conditions, delivered via telehealth video visits; the company states it does not rely on wearables or computer vision, and is developing AI models, a patient and provider engagement platform, and employer dashboards.

Go-to-market

Direct-to-employer sales to self-insured employers, supported by published clinical outcomes and ROI claims, a company blog and resource library, and employer-facing reporting dashboards.

Self-insured and self-funded employers, described as mid- to large-sized companies in the U.S., and their employees and family members with musculoskeletal or orthopedic symptoms.

Geography

United States; the company has been described as based in San Francisco, California, with locations also listed in Dover, Delaware and Lafayette, California, and plans to expand to mid- and large-sized employers nationwide.

History

Founded in 2020, Aware Health participated in Techstars and closed a $3 million seed round announced in October 2024 led by Boomerang Ventures, after which Boomerang founder Oscar Moralez joined the board and angel investor Sachin Bhat also took a board seat.

Compiled by commissioned research from 9 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
Average client ROI in lifetime healthcare cost savingsOct 20246.2 x
Eligible membersOct 202415,000 members
Employees requiring imaging (PM&R study)Oct 2024less than 8%
Employees requiring surgery (PM&R study)Oct 2024under 2%
Headcount rangeJan 202611-50 employees
Litigation rate (PM&R study)Oct 2024less than 1%
Patients intending surgery who avoid surgery (wear-and-tear conditions)Oct 202495%
Reduction in orthopedic healthcare claimsOct 202459%
Total fundingOct 2024$3M

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Related companies · 4

Companies working in the same space as Aware Health.

Timeline · 2

launches, deals, and filings
Oct 2024
Aware Health closes $3M seed round led by Boomerang Ventures

Aware Health announced the close of a $3 million seed funding round led by Boomerang Ventures, with participation from Bright Ventures, Suncoast Ventures, Tidal River Fund, Impulsum Ventures, Techstars and angel investors, to expand its value-based musculoskeletal solution for self-insured employers.

$3M source ↗

Oct 2024
Oscar Moralez and Sachin Bhat join Aware Health board

Boomerang Ventures founder and managing partner Oscar Moralez joined the Aware Health board following the seed investment; angel investor Sachin Bhat, co-founder of Scribe, also took a board seat.

source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

In the news

▸Research sources · 9

primary sources listed

9 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Aware Health do?
Aware Health provides direct-to-employer virtual musculoskeletal care, connecting members with physical therapists for same-day tele-rehab.
Who are Aware Health's investors?
Aware Health's investors include Atlantic, Boomerang Ventures, Bright Ventures, Claritas Capital, Divide by Zero, Suncoast Ventures, Techstars, Impulsum Ventures.
How much funding has Aware Health raised?
Aware Health has disclosed $3M raised across 1 of its 2 known rounds.
Where is Aware Health headquartered?
Aware Health is headquartered in Dover, US.