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In the final quarter of 2019, MobiHealthNews tracked 55 digital health funding deals totaling just over $1.7 billion. The three-month period was headlined by Bright Health’s $635 million Series D round and a $200 million raise from iFit, allowing it to edge out last year’s Q4 of 52 deals at $1.18 billion.
This is a slightly different story than what we see when taking the full year into account. Here, 2019 comprised of 251 funding announcements representing about $7.18 billion, with Babylon Health ($550 million), Clover Health ($500 million) and Gympass ($300 million) taking their place behind Bright Health as the largest deals of the year. Compared to 2018’s 244 deals for $7.7 billion, it would seem that the past year had a slightly higher quantity of raises but (by MobiHealthNews’ accounting) came up about half a billion short of the previous year’s total — although it’s also worth noting that we were unable to peg a number of nine of this year’s deals.
To dig a little deeper, read on below for a full listing of this year’s funding news, and click on the company’s name to visit our original reporting on the raise.
| Company | Round/Series | Amount (M) | Investors | What's it for | What they do | Quarter of announcement |
|---|---|---|---|---|---|---|
|
Series D |
$635.00 |
NEA, Bessemer Venture Partners, Cross Creek Advisors, Declaration Partners, Flare Capital Partners, Greenspring Associates, Meritech Capital, Redpoint Ventures and Town Hall Ventures. |
Bright Health said that the new funds would fuel its continued expansion of products, regions and users. The startup will do so through new hires and continued work on its tech platform. |
Through individual, family and Medicare Advantage plans, members can access services such as a health rewards program or personalized care teams through a consumer-minded tech platform consisting of web tools and a mobile app. |
Q4 |
|
|
Series C |
$550.00 |
Saudi Arabian crown prince, Tencent, Samsung, Telus, Prudential Asia |
This investment is part of Babylon Health’s recent fundraising to expand in North America, the Middle East and China. |
Babylon’s app lets patients book virtual GP appointments and order prescriptions in order to make healthcare more accessible. |
Q3 |
|
|
N/A |
$500 |
Greenoaks Capital |
The new money will be used for growth, innovation and deepening ties with physicians. |
Q1 |
||
|
N/A |
$300 |
SoftBank's Vision Fund Latin America Fund, General Atlantic, Atomico, Valor Capital Group |
The new funding will allow Gympass to further personalize the user experience of its product. The startup also told Bloomberg that it will be expanding its service into the Asian region. |
Gympass allows employers to provide employees with monthly passes that can be redeemed for gym access and various fitness classes. Through the app, members can search for locations that support a Gympass, lookup specific class schedules and check into their session via GPS. |
Q2 |
|
|
N/A |
$250 |
Country Garden Holdings, Tencent Holdings and Sequoia Capital |
N/A |
Tencent Trusted Doctor said it connects 440,000 certified doctors with more than 10 million patients online, offering services from online consulting to e-commerce to physical checks. |
Q2 |
|
|
Series E |
$205 |
SoftBank, PSP Investments, DFJ Growth, G Squared, Founders Fund, GV, Maverick Ventures, Mubadala Ventures, NEA and Sun Life |
Collective Health is targeting new strategic partnerships within the US; bumping up its sales, engineering and customer experience teams; and developing new capabilities to its platform. |
Promising an alternative to hectic multi-vendor implementations, Collective Health’s suite of software offers a centralized hub for employers to manage members, conduct administrative tasks, optimize networks and point solutions, and gauge performance. Members, meanwhile, have access to an online and mobile portal that handles benefit navigation and, with the help of predictive analytics, matches members to the programs that would most benefit them. |
Q2 |
|
|
N/A |
$200.00 |
Pamplona Capital Management |
Watterson said that the investment will “allow iFit to further accelerate its rapidly growing interactive fitness platform in the connected home and club fitness industries." |
iFit — which shares its parent company with workout machine makers NordicTrack, ProForm and Freemotion — has built a streaming platform for use on these companies’ products. Users can sign up for individualized virtual workouts and classes led by live trainers. |
Q4 |
|
|
Series C |
$200.00 |
TCV, Thrive Capital and Glade Brook Capital |
The startup plans to put the new cash towards building its New York services and expanding to other locations. |
The digital pharmacy company offers hand-delivered same-day medication drop off to its customers. |
Q3 |
|
|
N/A |
$170.30 |
General Atlantic, Eurazeo, Bpifrance, Kernel, Accel and unnamed German healthcare entrepreneurs |
The company plans to use the funds to accelerate growth in France and Germany (it plans to double the size of its team over the next three years) as well as push into other international markets. Additionally, it will use funds for product development and to promote its telehealth offering, which just launched last month. |
Doctolib offers its subscription-based SaaS platform to medical practices, allowing doctors to manage their appointment bookings and communicate with patients. The company also offers its services to patients, which they can use to to locate doctors or services while tracking their appointments. |
Q1 |
|
|
N/A |
$100 |
Undisclosed |
Undisclosed |
Hims is an online mail-order men’s health company that uses remote consultation to prescribe cosmetic and sexual health products. |
Q1 |
|
|
Series E |
$90.90 |
One Peak Partners, Goldman Sachs Private Capital Investing, Piton Capital and ENERN Investments |
The company said that it would use the new funding to continue its push in core European and Latin American markets, purse R&D activities and expand its team. |
DocPlanner's online doctor booking services offers doctors and clinics a SaaS tool to improve patient flow and help digitize their practices, and allows patients to book appointments through its online marketplace with healthcare professionals. |
Q2 |
|
|
Series C |
$90 |
The Growth Fund of L Catterton, Evolution Media, Shasta Ventures, Mayfield, Serena Ventures and Sapphire Ventures |
The company plans to use the new funding to create new “personalized software experiences” for the device, hire new talent and expand its video content library. |
Tonal offers a special connected exercise machine with a AI-powered fitness software, all focused on the goal of strength training. Rather than traditional weights, the machine uses "digital weights" that use magnetic force to provide resistance. |
Q2 |
|
|
Seires B |
$88 |
TPG Growth, Creative Artists Agency and Insight Venture Partners and Sound Ventures |
The company plans to use the money to build international growth. |
The company created a guided meditation app. |
Q1 |
|
|
Series B |
$85 |
N/A |
The company did not disclose its plans for the new money. |
Ro made a name for itself in the digital health world with its online platform that specializes in men’s health, but has recently expanded to smoking cessation and women's health. |
Q2 |
|
|
N/A |
$73 |
Wellington Management Company, Cigna Ventures, Andreessen Horowitz, U.S. Venture Partners, Norwest Venture Partners, Kaiser Permanente Ventures, Sanofi Ventures, Civilization Ventures and Providence Ventures |
The funding will help ongoing scaling efforts for its digital care program. |
Omada offers a slew of digital coaching programs addressing hypertension, Type 2 diabetes, mental health conditions and other health needs. The company also implements connected technology to track participants and hold them accountable — for instance, a wireless scale, a pedometer, and a mobile app to track food and activity for its diabetes program. |
Q2 |
|
|
Series D |
$70.00 |
Tiger Global Management, Catalyst, Bessemer, Crosslink, Pelion and LeadEdge |
Weave wrote in its announcement that it’s aiming for a deeper push into the international markets, and will also be continuing its investment into product expansion and workforce development. |
Weave’s digital platform looks to encompass a broad range of patient communications and relations capabilities for small to medium-sized practices. |
Q4 |
|
|
N/A |
$65.40 |
N/A |
The company did not disclose specific directions for its new funding. |
Jawbone Health sees itself as “a personalized subscription service that utilizes continuous health information combined with human and machine intelligence to take care of its members on a daily basis.” |
Q2 |
|
|
Series B |
$65 |
Redpoint Ventures, 8VC, Echo Health Ventures, StartUp Health, Sidewalk Labs, Thrive Capital, Maverick Ventures, Town Hall Ventures and EmbelmHealth |
The company will use the new money to expand the team and grow its reach into both existing and new markets. It also plans to invest in technical product capabilities and add new services. |
Cityblock, a spinout of Alphabet subsidiary Sidewalk Labs, looks to limit disparities by providing preventative medicine and access to resources through its digital tools. |
Q2 |
|
|
Series C |
$64 |
Temasek, Novartis, 5AM Ventures, Arboretum Ventures, Jazz Venture Partners, The Bridge Builders Collaborative and EDBI |
The new money is set to help the company globalize the commercialization of the reSET suite of products—which were first commercially launched in November. |
The Boston-based company makes prescription software-based treatments |
Q1 |
|
|
Series D |
$60.00 |
Echo Ventures and Deerfield Capital |
Quartet’s full Series D round aims to fuel the company’s expansion efforts. Of note, the company said during the summer that it hopes to reach Medicaid beneficiaries who are in need of behavioral health services. |
Quartet’s integrated platform links providers, payers and services together in its aim to more effectively deliver mental and primary care. |
Q4 |
|
|
Series C |
$60.00 |
Corner Ventures, Joy Capital Ventures, Ansonia Holdings, Aleph and Samsung NEXT |
Healthy.io is accelerating global expansion and continue product development. Additionally, the company plans to pursue additional regulatory approvals so that its new ACR test can be used at home as well. |
Healthy.io’s primary product is Dip.io, a smartphone-enabled testing kit consisting of a disposable test strip, testing cups and a colored panel. Strips are dipped into urine samples and then placed into the board, whereupon the user takes a picture of the two with their smartphone camera to receive a prompt result. |
Q3 |
|
|
Series D |
$60 |
Centene Corporation, F-Prime Capital Partners, GV, Oak HC/FT and Polaris Partners |
The latest round will support Quartet’s ongoing expansion, with a particular focus on Medicaid beneficiaries who are in need of behavioral health services. |
Quartet’s integrated platform links providers, payers and services together in its aim to more effectively deliver mental and primary care. |
Q2 |
|
|
Series B |
$60 |
General Atlantic, General Catalyst and others |
The funding will help PathAI pursue new partnerships and build out its existing and in-development service offerings. |
PathAI’s platform employs convolutional neural networks in its analysis of medical images. By doing so, the company’s product can help pathologists diagnose and sub-type cancer and other diseases. |
Q2 |
|
|
Series E |
$58 |
Sequoia Capital, Aglae Ventures, Samsung Ventures, and a number of individual investors including Whats App cofounder Jan Koum, DoorDash cofounder Tony Xu, and Oscar Health cofounder Scooter Braun |
The new funding is expected to help the company grow their team and build their customer service capabilities. |
Noom’s platform is focused on creating behavioral health changes related to weight loss, fitness and diet management. |
Q2 |
|
|
Series B |
$56.00 |
Atomico, Intel Capital, Global Brain, btov Partners, Balderton Capital, Amadeus Capital Partners, and Jonathan Milner |
The funds will be used to develop the company’s therapeutic pipeline and to launch its global Rare Treatment Accelerator, a collaboration programme which allows select patient groups and clinicians to combine knowledge, information and expertise. |
The UK-based firm specialises in using artificial intelligence to accelerate the discovery and development of rare disease treatments. |
Q4 |
|
|
Series D (includes debt financing) |
$55.00 |
Foundry Group, Two Sigma Ventures, Accomplice, Thursday Ventures, Promus Ventures, Silicon Valley Bank and other individual investors |
The $55 million will be put towards expanding consumer acquisitions, membership services and product development. |
Whoop’s product includes a wearable strap that collects physiological data and a corresponding app, which gives users insights into their training and recovery. |
Q4 |
|
|
Series C |
$52.00 |
Kleiner Perkins Digital Growth Fund, Union Square Ventures, Reproductive Health Investors Alliance, Dreamers VC (actor Will Smith’s venture fund), Lowercase Capital, and Y Combinator |
The company has a lot of plans for this funding, including introducing additional offerings for what they describe as “sensitive health needs” and growing their userbase. |
Nurx offers telemedicine prescription and delivery of birth control pills. |
Q3 |
|
|
Series C |
$50.00 |
Scale Venture Partners, General Catalyst, Polaris Partners and 7wire Ventures |
OM1 said it will be using the funds to further flesh out its products for real-world evidence, value-based care and predictive medicine. |
OM1’s cloud platform employs AI machine learning organize and analyze large datasets for real-world measures of clinical outcomes. Stakeholders across the healthcare industry can use the startup’s tools to support decisions regarding care management, treatment costs, regulatory submissions and event prediction. |
Q4 |
|
|
Series B |
$50.00 |
Greenoaks, Threshold Ventures, CRV, GV and Kleiner Perkins |
The new money will be put towards expanding the technology to more locations. |
Viz.ai focuses on using AI to triage stroke patients and coordinate care. Specifically, using a deep learning algorithm the technology aims to highlight suspected large vessel occlusion. The system then alerts all members of the stroke team. |
Q4 |
|
|
Series D |
$50 |
Revolution Growth, Northwest Venture Partners, Qumra Capital, Spark Capital and Compound Ventures |
The new funding will be put towards expanding Talkspace’s services and accelerating the startup’s commercial business. The company also noted that it plans to expand into international markets and build out new artificial intelligence capabilities. |
Talkspace is a digital platform that connects patients seeking mental health services to providers. Based on a client’s needs, the platform matches them to a therapist. Users can then access clinicians through a telemedicine service and schedule times to talk. |
Q2 |
|
|
Series C |
$50 |
Novartis, Baird Capital, LifeSci Venture Partners, TriVentures, JJDC, Lux Capital, Lightstone Ventures, Action Potential Venture Capital, dRx Capital, GV and other unnamed backers. |
The funding will kickstart the market launch of Cala Trio, its wearable hand tremor therapy, as well as buff up its therapeutic pipeline. |
Stanford University spinout Cala Health has created a wearable neuromodulation therapy indicated for essential tremor, with other offerings under development focused on neurology, cardiology and psychiatry. |
Q2 |
|
|
Series A |
$50 |
Goodwater Capital, Highland Capital Partners, Next Coast Ventures, NextGen Venture Partners and other unnamed investors. |
The company will be using the $50 million to further expand its digital platform and beef up its partnerships with brands like CVS and Humana. |
EverlyWell offers consumers a range of lab tests that can be ordered on the company’s website. Customers receive an breakdown of their results online. |
Q2 |
|
|
Series B |
$45.00 |
Healthcare Venture Partners, Breyer Capital, Kenan Turnacioglu and other funders |
The company said the new cash will be put towards getting FDA clearance for its products and further development. The company is also looking to build up its commercialization in the US as well as expand to the European, Brazilian and Canadian markets. |
The AI company uses computational and digital pathology to help oncologists and pathologists make decisions faster, more accurately and at a lower cost. |
Q4 |
|
|
Series C |
$43 |
Northpond Ventures, Section 32, Founders Fund, Sands Capital Ventures and Borealis Ventures |
The company will continue development of its platform and international expansion. |
