VALD’s human measurement technology – delivered via an integrated hardware and software platform – is used almost ubiquitously among pro sports teams to monitor the performance and manage injuries of the world’s highest paid athletes. More recently, it has been rapidly adopted by health professionals to help detect and rehabilitate a broad spectrum of musculoskeletal (MSK) conditions for patients of all ages and abilities.
Despite peak capital market conditions in 2021, VALD’s co-founders chose not to pursue its planned IPO with the belief that remaining private would better serve their long-term vision. During 2022, the Company sought an investment partner who could fund its organic growth and M&A ambitions, provide liquidity to dedicated pre-IPO funds no longer aligned with the Company’s capital strategy, and manage dilution to ensure the founders retained significant ownership stakes and operational control. We worked collaboratively to tailor a creative solution to achieve these varied growth capital use cases, and are thrilled to partner with Laurie Malone, Sam James, and the VALD team in their mission to improve outcomes for MSK professionals and their patients.
For Vistara Growth’s full investment thesis, we encourage reading Why We Invested in Vald.
Global health tech company VALD secures expansion funding from North American technology investor Vistara Growth and QIC
November 28, 2022
Global health tech company VALD has closed a capital raise of approximately A$36m (US$25m) from leading North American investment firm Vistara Growth and Queensland Investment Corporation (QIC).
VALD’s range of human measurement technologies democratizes access to musculoskeletal technology to improve data-driven decision making. The Company’s platform has been used by professional sporting teams across the globe to better monitor athlete performance, injury and recovery. Over the past several years, the Company has brought their platform and expertise to healthcare practitioners, helping them improve outcomes for patients.
VALD Co-founder and CEO, Mr. Laurie Malone, is confident the investment from Vistara Growth will provide strategic benefit in the North American market, where VALD products have seen the most adoption and generate over 50% of the Company’s revenues.
“This partnership with Vistara Growth will accelerate our ongoing North American expansion and allow us to make further inroads into the healthcare market worldwide,” Malone said. “We like to say that after helping teams win sporting championships, we’re now helping grandmothers successfully recover from hip surgery so they can pick up their grandkids again.”
With this funding, VALD will continue to build their team after employing an additional 100 staff throughout 2022. Additionally, part of the funding has also been used for three acquisitions that help to accelerate the Company’s product roadmap.
Noah Shipman, Partner at Vistara Growth, is excited by the partnership with VALD, Vistara’s first Australian investment.
“VALD is the type of highly ambitious, disciplined and globally minded technology company Vistara Growth seeks to invest in. We are excited to back our first Australian-based company and see VALD as the world leader in their market,” says Shipman.
“VALD’s human measurement technology had been battle tested by the world’s most demanding customers in professional sport and defence organisations,” Shipman continues, “With rapid early adoption in healthcare settings, it was time to prepare for global expansion, and we are thrilled to be VALD’s partner in driving this next phase of growth”.
Treasurer and Minister for Trade and Investment Cameron Dick said the funding would support VALD’s latest $36 million capital raise, which includes North American investment firm Vistara Growth.
“The Queensland Government has been supporting VALD through our capital investment programs since the company’s infancy, helping to accelerate its technology into a global success story,” the Treasurer said.
“VALD’s human measurement technologies are enabling the world’s best professional athletes to improve their performance by incorporating data-driven training and rehabilitation.”
“Our support through the Queensland Investment Corporation-managed $100 million Business Investment Fund will assist VALD’s rapid expansion into the health care sector.
“This will see VALD continue to expand its local team here in Brisbane, building their existing Queensland-based team which numbers over 120”.
VALD’s global customer base includes renowned health providers like the Mayo Clinic in the US and leading European musculoskeletal facility. Peter Brem is the Senior Clinical Specialist of Physiotherapy at the latter, and uses VALD systems to capture accurate objective data.
“We use the data to generate immediate reports to our referrals, for instant and retrospective analysis of our rehabilitation protocols, and to conduct prospective clinical research,” Brem said.
“Data captured through VALD allows us to remove subjectivity and determine the best treatment plan for our patients. This data allows us to create recovery plans that are unique in Switzerland and across mainland Europe” he added.
Musculoskeletal conditions are one of the largest burdens on health systems globally, representing an annual cost of $256 billion in the US alone.
“Our systems capture quantifiable objective data that help improve decision-making across a range of disciplines and provide deep, visualizable insights that save time and make it easier to analyse longitudinal trends across high-quality data points.”
“MSK injuries are a systemic issue that places huge burdens on healthcare systems across the world, and we’re eager to apply VALD’s technology to help alleviate these issues for our clients and their patients,” VALD’s chief executive Malone said.
About Vistara Growth
Vistara Growth provides highly flexible growth debt and equity solutions to leading technology companies across North America. Founded, managed, and funded by seasoned technology finance and operating executives, “Vistara” (Sanskrit for “expansion”) is focused on enabling growth for the ambitious entrepreneurs we invest in, our investors, our people, and the communities we operate in. For more information, visit vistaragrowth.com