San Francisco-based Hike Medical has raised $22.5 million across seed and Series A financing to expand an automated referral and supply-chain platform for orthotics, prosthetics and durable medical equipment. Saga Ventures led the round, with participation from Indicator Ventures, Fifth Down Capital, RiverPark Ventures, orthotics maker Orthofeet and several individual investors.
Automating the paper trail behind physical devices
Hike is targeting a segment of healthcare that rarely makes headlines: how a prescribed brace, prosthetic or piece of home medical equipment actually gets from a clinician to a patient. Today that flow relies heavily on faxes, phone calls and manual insurance authorisations. Hike's platform digitises the referral, tracks device fabrication and delivery, and manages payer paperwork through a single workflow used by providers, device manufacturers and suppliers.
Starting with custom foot orthotics
The company launched the model with custom foot orthotics and now plans to extend it across the broader universe of device-based care, from prosthetics to durable medical equipment. Orthofeet's participation on the cap table gives Hike a direct connection to a device manufacturer that already sits inside the workflow it wants to automate — a signal that suppliers see value in shared infrastructure, not just clinicians.
Healthcare's administrative layer is having a moment
Investors have increasingly targeted healthcare's administrative and logistics layer because labour costs and fragmented software leave large pools of spending that technology can compress without requiring scientific breakthroughs. Hike sits alongside a wave of AI-native health startups going after specific workflows, including next-gen hepatitis-B therapeutics developers and specialised medical-device robotics companies.
What comes next
Hike says the capital will fund category expansion, additional payer integrations and hiring across engineering and clinical operations. The financing lands during a busy week for healthtech, with backers including CVS Health Ventures and Costanoa Ventures also participating in Onos Health's $17M Series A for behavioural-health intelligence.
Reporting based on coverage from Tech Startups.