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Luna

Luna logo

Luna

getluna.com
HQ: Nashville, Tennessee, United States
5000
Healthcare

Company research

Public company, workplace, funding, and market signals

Updated Aug 16, 2026

Overview

Luna is a privately held health-tech company founded in 2018 that provides one-on-one, outpatient physical therapy in patients’ homes. Its technology coordinates patients, licensed therapists, physicians, health systems, scheduling, billing, documentation, and care tracking.

Primary product

Technology-enabled, in-home outpatient physical therapy platform and care-delivery service, including the Luna patient/therapist apps, Physician Dashboard, Auto-Charting, and Luna Labs AI tools.

Founded

2018

Headquarters

Nashville, Tennessee, United States

Team size

500-1,000

Work style

Hybrid

Industry

Healthcare technology

Sub-industry

Outpatient physical therapy, musculoskeletal care, digital health, and in-home care delivery

Offices

Nashville, Tennessee, United States
Rocklin, California, United States (historical headquarters/location)
Minneapolis, Minnesota, United States
Pittsburgh, Pennsylvania, United States
Spokane, Washington, United States
Sacramento, California, United States
Denver, Colorado, United States

Business model

B2C healthcare services reimbursed through commercial insurance, Medicare, and Medicare Advantage
B2B2C partnerships with health systems, provider groups, health plans, and accountable care organizations
Value-based care and care-coordination programs
Independent-contractor therapist marketplace/network

Funding

Stage

Late-stage venture/private company; generating revenue

Total raised

$122.3M

Latest round

Series C Exchange · May 2025

Latest amount

$85.5M

Series C Exchange

May 2025 · Undisclosed investors

$85.5M

Seed VC-II

Dec 2023 · Free Solo Ventures

Series B1

Dec 2023

$36M

Series B Prime Exchange

May 2023 · What If Ventures

$15.9M

Series B-5 Exchange

Jun 2022 · MBX Capital and Spark Growth Ventures

$2.5M

Series B-6 Exchange

Jun 2022 · MBX Capital and Spark Growth Ventures

$1M

Series B-4 Exchange

Jun 2022 · MBX Capital and Spark Growth Ventures

$1.7M

Series B-1 Exchange

Jun 2022 · MBX Capital and Spark Growth Ventures

$4.1M

Series B-2 Exchange

Jun 2022 · MBX Capital and Spark Growth Ventures

$2.6M

Series B-3 Exchange

Jun 2022 · MBX Capital and Spark Growth Ventures

$4.5M

Series B

Jun 2022 · Bramalea Partners

$25M

Series A

Jun 2020 · Wavemaker Three-Sixty Health

Seed / early venture round

Jun 2019 · 8VC and Wavemaker Three-Sixty Health

Series A-1 Exchange

Feb 2018

$4M

Series A-2 Exchange

Feb 2018

$598K

People & investors

Leadership

Steve Waldman, MD, JD, MBA

Chief Executive Officer

Palak Shah, PT, OCS

Co-Founder and Head of Clinical Services

Ryan Gaffney

Co-Founder and Chief Technology Officer

Lily Beltran

Co-Founder and Head of Operations / Marketplace Operations

Amber Mauro, PHR

Chief People Officer; Talent Acquisition and People Operations

RaeAnn Grossman

Chief Growth Officer

Founders

Palak Shah

Co-Founder and Head of Clinical Services

Investors

8VC
Bloodhound Partners
Boyd Street Ventures
Bramalea Partners
BroadVision Group
Echo Investment Capital
Free Solo Ventures
Freesolo Capital
LDV Partners
MBX Capital
Phin Upham
Singh Capital Partners
Spark Growth Ventures
Visionary Private Equity Group
Wavemaker Three-Sixty Health
What If Ventures

Work & culture

Company materials emphasize the values “care exceptionally,” “incredibly relentless,” “make an impact,” and “1% better every day.” Luna describes a people-first, mission-driven, autonomous, collaborative culture with structured career paths, mentorship, employee-led initiatives, and a focus on patient and therapist experience. These claims are primarily self-reported by Luna.

Work style

Hybrid

Compensation

Corporate job postings surfaced by Luna list approximately $18-$20+ per hour for several contact-center, scheduling, and account-management roles. Luna recruiting materials describe competitive compensation, stock options, bonuses, and benefits. Physical therapists are generally engaged as independent contractors with regionally based per-visit rates; specific rates vary by market and are not publicly standardized.

Benefits

Health insurance
401(k)
Paid holidays
Paid time off
Unlimited PTO for some exempt roles, according to company recruiting materials
Stock options for many corporate employees
Pet insurance
Flexible and hybrid work options for eligible roles
Career-development programs and structured internal promotion paths
Therapist schedule autonomy and clinical independence
Instant therapist payments through Insta-Pay
Concierge and mentorship support for physical therapists

Product & market

Pricing

Insurance-reimbursed care using commercial insurance, Medicare, and Medicare Advantage; patients generally pay the applicable copay for covered visits. Luna also offers private-pay physical therapy at a flat fee in some markets. Exact cash pricing varies by location.

Differentiators

  • —One-on-one, hands-on outpatient PT delivered in the patient’s home rather than primarily virtual care or home health
  • —National therapist network and broad geographic coverage
  • —Technology that handles scheduling, billing, credentialing, documentation, care tracking, and physician communication
  • —Same therapist continuity across appointments
  • —Insurance, Medicare, and Medicare Advantage participation
  • —Therapist autonomy, flexible scheduling, administrative support, Auto-Charting, and Insta-Pay
  • —Health-system and value-based-care integrations designed to reduce referral leakage and improve adherence
  • —Clinical intervention programs focused on surgical avoidance, fall prevention, postoperative recovery, and mobility

Technology

Luna patient mobile app
Luna therapist mobile app
Physician Dashboard
Auto-Charting voice-enabled clinical documentation
Luna Labs artificial-intelligence division
Large language models for scheduling, billing, charting, and conversational support
Care coordination and real-time patient-progress tracking
Gamified exercise programs and recovery tracking

Customers

Patients receiving outpatient physical therapy at home
Duke Health
Providence
Emory Healthcare
Intermountain Healthcare
UCI Health
AARP
MedStar Health
Adventist Health
PAM Health
Healthcare Outcomes Performance Company (HOPCo)
Luminis Health
Powerback Rehabilitation
Memorial Rehabilitation Institute
ACOs including iluMed, Vytalize, NeueHealth, and Honest ACO

Competitors

Hinge Health
Sword Health
Bardavon Health Innovations
Kaia Health
Traditional outpatient physical therapy clinics
Home-health and rehabilitation providers

Scale & contact

Estimated revenue

$1M-$10M based on a third-party company-data estimate; this conflicts with a former CEO profile claiming a $100M run rate, so the figure should be treated as highly uncertain and not company-confirmed.

Estimated monthly visits

111.8K

Traffic estimate as of Jun 2026

Signals & risks

Layoff
Jun 2026

Former employees publicly reported that Luna continued a reduction in force affecting the Dallas-Fort Worth market and other areas. The company has not been found to have publicly disclosed the size or scope of the reduction.

Source
Layoff
Jun 2026

A former Luna employee publicly stated that they were affected by a recent workforce reduction. This is employee-reported evidence rather than an official company announcement.

Source

Latest news

Luna surpasses 2 million in-home physical therapy visits

Luna · May 2026

Luna announced that it had surpassed two million in-home PT visits, describing the milestone as evidence of continued operational and technology-enabled scale.

Luna Selects MediStreams to Automate Revenue-Cycle Operations

Business Wire · Mar 2026

Luna selected MediStreams to automate lockbox payments, remittance processing, correspondence indexing, and other revenue-cycle workflows as it expands nationally.

Forbes ranks Luna among the 2025 Best Startup Employers

Luna / Forbes · Apr 2025

Luna reported ranking #61 overall on Forbes’ Best Startup Employers list, #1 in musculoskeletal care, and #3 in Healthcare/Lifestyle & Health.

Luna’s 2024 Year in Review: Expanding PT Access and Scale

Luna · Feb 2025

Luna reported more than 85,000 patients served, 1.2 million visits, over $40 million paid to therapists, 3,100+ treating therapists, 350+ corporate employees, and partnerships with 25 hospital systems during 2024.

Luna partners with Duke Health to expand in-home PT

PR Newswire · Dec 2024

Luna and Duke Health announced a collaboration intended to expand access to in-home outpatient PT for more than 1.3 million residents, with appointments planned to begin in February 2025.

About / company informationBlogCareersCompany websiteIndeed company/jobs pageLinkedIn company pageLinkedIn jobsLuna therapist FAQNewsroom/news blogPhysical therapist careers
SourcesLuna homepage and product overviewLuna company/careers overviewLuna clinical careersLuna about/company informationLuna LinkedIn company pageLuna 2024 year in reviewLuna Luna Labs AI announcementLuna CEO profile: Steve WaldmanLuna leadership announcement: Amber MauroLuna Chief Growth Officer announcementLuna culture and employee benefitsLuna career development and promotionsLuna therapist FAQLuna funding details, Forge GlobalLuna funding and investor profile, PitchBookLuna portfolio profile, Boyd Street Ventures8VC Luna portfolio pageLuna Series B investor announcementLuna Forbes 2025 recognitionLuna Fast Company recognition

Jobs and careers at Luna

96 jobs at Luna

Accounting Manager - Revenue

Remote
Accounting & Finance
REMOTE
Today
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Physical Therapist

On-site
Physical Therapists
Missouri City, TX
5d ago
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Full-time
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Revenue Accounting & Controls Manager

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Accounting & Finance
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5d ago
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Revenue Accounting & Controls Manager

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Accounting & Finance
REMOTE
1w ago
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Occupational Therapist

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Physical Therapists
Nashville, TN
1mo ago
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Occupational Therapist

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Physical Therapists
Chicago, IL
1mo ago
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Physical Therapist

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Physical Therapists
Walnut Creek, CA
1mo ago
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Patient Onboarding Associate- Call Center

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Concierge Services
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Physical Therapist

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Fountain, CO
2mo ago
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Physical Therapist

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Chester, PA
2mo ago
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Patient Onboarding Associate- Call Center (part time hours)

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Physical Therapist

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2mo ago
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Physical Therapists
Everett, WA
3mo ago
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Las Vegas, NV
3mo ago
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Folsom, CA
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Elk Grove, CA
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Livermore, CA
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Licensed Physical Therapist

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