Hinge Health, Inc. received an updated ownership report from Bessemer Venture Partners and affiliated Deer X entities regarding their holdings of the company’s Class A common stock, as of a reference date tied to October 30, 2025 share counts.
Deer X Ltd and Deer X LP each report beneficial ownership of 3,133,707 shares, representing 8.3% of the Class A common stock. Bessemer Venture Partners X L.P. reports 1,616,366 shares, or 4.3%, and Bessemer Venture Partners X Institutional L.P. reports 1,517,341 shares, or 4.0%. These positions reflect Class A shares underlying Class B common stock that is convertible into Class A on a 1-for-1 basis, based on 37,919,155 Class A shares outstanding as of October 30, 2025.
Positive
None.
Negative
None.
Insights
Filing updates sizable institutional stakes in Hinge Health without signaling new transactions.
The disclosure shows Deer X and Bessemer Venture Partners collectively holding several million shares of Hinge Health through Class B stock convertible into Class A on a 1-for-1 basis. Deer X entities each report 3,133,707 shares, while the Bessemer funds hold over 3.1 million combined.
The reported ownership percentages, up to 8.3% for Deer X entities and between 4.0% and 4.3% for the Bessemer funds, are calculated from 37,919,155 Class A shares outstanding as of October 30, 2025. This indicates meaningful but non-controlling positions by sophisticated institutional investors.
The filing does not describe changes in transaction activity, strategy, or intentions, and it is framed as a Schedule 13G/A, which is typically used for passive ownership. Future company filings may provide more detail if ownership levels or filing status change.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Hinge Health, Inc.
(Name of Issuer)
Class A Common Stock, $0.00001 par value per share
(Title of Class of Securities)
433313103
(CUSIP Number)
12/31/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
433313103
1
Names of Reporting Persons
Bessemer Venture Partners X L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
1,616,366.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
1,616,366.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,616,366.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.3 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person:
Represents shares of Class A Common Stock of the Issuer underlying shares of Class B Common Stock beneficially owned by the Reporting Person, which shares of Class B Common Stock are convertible, at the option of the holder, into shares of Class A Common Stock on a 1-for-1 basis. The percentage of shares beneficially owned set forth in row 11 above is based on a total of 37,919,155 shares of Class A Common Stock as of October 30, 2025 as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 7, 2025.
SCHEDULE 13G
CUSIP No.
433313103
1
Names of Reporting Persons
Bessemer Venture Partners X Institutional L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
1,517,341.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
1,517,341.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,517,341.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.0 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person:
Represents shares of Class A Common Stock of the Issuer underlying shares of Class B Common Stock beneficially owned by the Reporting Person, which shares of Class B Common Stock are convertible, at the option of the holder, into shares of Class A Common Stock on a 1-for-1 basis. The percentage of shares beneficially owned set forth in row 11 above is based on a total of 37,919,155 shares of Class A Common Stock as of October 30, 2025 as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 7, 2025.
SCHEDULE 13G
CUSIP No.
433313103
1
Names of Reporting Persons
Deer X & Co. L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
3,133,707.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
3,133,707.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,133,707.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
8.3 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person:
Represents shares of Class A Common Stock of the Issuer underlying shares of Class B Common Stock beneficially owned by the Reporting Person, which shares of Class B Common Stock are convertible, at the option of the holder, into shares of Class A Common Stock on a 1-for-1 basis. The percentage of shares beneficially owned set forth in row 11 above is based on a total of 37,919,155 shares of Class A Common Stock as of October 30, 2025 as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 7, 2025.
SCHEDULE 13G
CUSIP No.
433313103
1
Names of Reporting Persons
Deer X & Co. Ltd.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
3,133,707.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
3,133,707.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,133,707.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
8.3 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person:
Represents shares of Class A Common Stock of the Issuer underlying shares of Class B Common Stock beneficially owned by the Reporting Person, which shares of Class B Common Stock are convertible, at the option of the holder, into shares of Class A Common Stock on a 1-for-1 basis. The percentage of shares beneficially owned set forth in row 11 above is based on a total of 37,919,155 shares of Class A Common Stock as of October 30, 2025 as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 7, 2025.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Hinge Health, Inc.
(b)
Address of issuer's principal executive offices:
455 Market Street, 7th Floor, San Francisco, CA 94105
Item 2.
(a)
Name of person filing:
This statement is being filed by the following persons with respect to certain shares of Class B Common Stock (the "Shares" or the "Common Stock") of the Issuer. Bessemer Venture Partners X L.P. ("BVP X"), Bessemer Venture Partners X Institutional L.P. ("BVP X Inst" and together with BVP X, the "Funds") directly own shares of Common Stock.
Deer X Ltd, Deer X LP, BVP X and BVP X Inst are sometimes individually referred to herein as a "Reporting Person" and collectively as the "Reporting Persons."
(b)
Address or principal business office or, if none, residence:
The address of the principal business office of the Reporting Persons is:
c/o Bessemer Venture Partners
1865 Palmer Avenue; Suite 104
Larchmont, NY 10583
(c)
Citizenship:
Cayman Islands
(d)
Title of class of securities:
Class A Common Stock, $0.00001 par value per share
(e)
CUSIP No.:
433313103
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
Deer X Ltd- 3,133,707 shares
DeerX LP - 3,133,707 shares
BVP X - 1,616,366 shares
BVP X Inst - 1,517,341 shares
(b)
Percent of class:
Deer X Ltd- 8.3%
DeerX LP - 8.3%
BVP X - 4.3%
BVP X Inst - 4.0%
Represents shares of Class A Common Stock of the Issuer underlying shares of Class B Common Stock of the Issuer beneficially owned by the Reporting Persons, which shares of Class B Common Stock are convertible, at the option of the holder, into shares of Class A Common Stock on a 1-for-1 basis. The percentage of shares beneficially owned is based on a total of 37,919,155 shares of Class A Common Stock outstanding as of October 30, 2025, as reported in the Issuer's Quartelry Report on Form 10-Q filed with the Securities and Exchange Commission on November 7, 2025.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Deer X Ltd-3,133,707 shares
DeerX LP - 3,133,707 shares
BVP X - 1,616,366 shares
BVP X Inst - 1,517,341 shares
(ii) Shared power to vote or to direct the vote:
Deer X Ltd- 0 shares
DeerX LP - 0 shares
BVP X - 0 shares
BVP X Inst - 0 shares
(iii) Sole power to dispose or to direct the disposition of:
Deer X Ltd-3,133,707 shares
DeerX LP - 3,133,707 shares
BVP X - 1,616,366 shares
BVP X Inst - 1,517,341 shares
(iv) Shared power to dispose or to direct the disposition of:
Deer X Ltd- 0 shares
DeerX LP - 0 shares
BVP X - 0 shares
BVP X Inst - 0 shares
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
As the general partner of Deer X LP, which in turn is the general partner of the Funds, Deer X Ltd may be deemed to beneficially own all 3,133,707 Shares held directly by the Funds and have the power to direct the dividends from or the proceeds of the sale of such Shares.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
Not Applicable
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Bessemer Venture Partners X L.P.
Signature:
/s/ Scott Ring
Name/Title:
Scott Ring, GC Deer X &Co. Ltd., the GP of Deer X & Co. L.P., the GP of Bessemer Venture Partners X, L.P.
Date:
02/17/2026
Bessemer Venture Partners X Institutional L.P.
Signature:
/s/ Scott Ring
Name/Title:
Scott Ring, GD Deer X&Co. Ltd., the GP of Deer X &Co. L.P., the GP of Bessemer Venture Partners X Institutional L.P.
Date:
02/17/2026
Deer X & Co. L.P.
Signature:
/s/ Scott Ring
Name/Title:
/s/ Scott Ring, General Counsel Deer X & Co. Ltd., the GP of Deer X & Co. L.P.
What ownership stake in HNGE does Deer X report in this Schedule 13G/A?
Deer X Ltd and Deer X LP each report beneficial ownership of 3,133,707 shares of Hinge Health Class A common stock, representing 8.3% of the class, based on 37,919,155 Class A shares outstanding as of October 30, 2025.
How many Hinge Health shares does Bessemer Venture Partners report owning?
Bessemer Venture Partners X L.P. reports beneficial ownership of 1,616,366 Hinge Health Class A shares, or 4.3% of the class. Bessemer Venture Partners X Institutional L.P. reports 1,517,341 shares, representing 4.0%, using the same 37,919,155-share Class A base.
What type of Hinge Health stock do the reporting persons hold in this filing?
The reporting persons beneficially own Class B Common Stock of Hinge Health that is convertible, at the holder’s option, into Class A Common Stock on a 1-for-1 basis. The reported share amounts and percentages reflect the Class A stock underlying these Class B shares.
What share count was used to calculate ownership percentages in the HNGE filing?
Ownership percentages are calculated using 37,919,155 shares of Hinge Health Class A common stock outstanding as of October 30, 2025, as reported in the company’s Quarterly Report on Form 10-Q filed on November 7, 2025.
Which entities are the reporting persons in the Hinge Health Schedule 13G/A?
The filing lists Bessemer Venture Partners X L.P., Bessemer Venture Partners X Institutional L.P., Deer X & Co. L.P., and Deer X & Co. Ltd. as reporting persons, each with specified beneficial ownership and sole voting and dispositive power over their respective Hinge Health share positions.
Does the filing indicate whether the HNGE holdings are held with sole or shared voting power?
Each reporting person lists sole voting power and sole dispositive power over its reported Hinge Health shares, with 0 shares shown as subject to shared voting or shared dispositive power in the ownership breakdown.
