Hike Medical Raises $22.5M in Seed, Series A Funding

SAN FRANCISCO—Hike Medical, the company automating device-based care from referral to dispense, has raised $22.5 million in seed and Series A funding to reimagine the entire supply chain for durable medical equipment, prosthetics and orthotics supplies (DMEPOS).

Hike’s platform connects back-office, point-of-care and device fabrication for orthotics and prosthetics, podiatry and durable medical equipment (DME) providers, serving as an all-in-one solution for device-based care, including:

• Hike intelligence: AI agents that process a referral automatically and 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 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, Illinois, with turnaround in about five business days.

“Patients shouldn’t have to wait weeks for a device because the systems behind their care don’t talk to each other,” said cofounder and CEO Aadi 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.”

Hike also hired industry veteran Jerry Tang as chief operating officer (COO) this year. Tang was employee No. 30 at Flexport, where he rose to senior vice president of global operations overseeing logistics, as the company grew from a $100 million to an $8 billion valuation. He then served as COO at Dandy, the digital dental lab, joining at its Series A and helping take the company to unicorn status.

The company said 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 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.