MobiHealthNews tracked 81 funding deals in April, May and June.
The first quarter of 2019 may have been a tad slow, but the past three months have shown that investors are still ready to pony up for digital health companies of every shape and size. The $2.45 billion in fundraising that MobiHealthNews covered in April, May and June isn’t quite the highest quarterly total (that distinction goes to Q3 of 2018), but it came from an impressive 81 separate funding deals for startups big and small, domestic and international.
Read on for a summary of each company’s round, and click on their name to visit MobiHealthNews’ original reporting on the raise.
| Company | Round/Series | Amount (M) | Investors | What's it for | What they do |
| Gympass | 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.
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| Tencent Trusted Doctor | 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.
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| Collective Health | 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.
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| DocPlanner | 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.
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| Tonal | 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.
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| Ro | 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.
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| Omada Health | 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.
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| Jawbone Health | 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.”
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| Cityblock | 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.
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| Quartet Health | 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.
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| PathAI | 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.
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| Noom | 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.
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| Talkspace | 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.
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| Cala Health | 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.
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| EverlyWell | 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.
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| Solera Health | Series C | $42 | HCSC Ventures, BlueCross BlueShield Venture Partners/Sandbox Advantage Fund, Adams Street Partners and SJF Ventures | Solera will be using the funds to “extend the impact of its novel marketplace and payment innovation model.” In particular, the company noted its interest in addressing behavioral health and social determinants of health issues for its customers. |
Solera’s platform hosts a broad selection of digital behavior modification programs that are offered to the members of its health plan and employer customers.
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| Elvie | Series B | $42 | IPGL, Octopus Ventures and Impact Ventures UK. | The new money will be put towards research and development, as well as growing brand awareness for the two products in the Americas, Europe and Asia. |
The women-led startup has developed two main products in the feminine care space; a pelvic floor trainer and a breast pump.
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| Aidoc | Series B | $40 | Square Peg Capital | Aidoc is looking to extend its reach to more providers. |
Aidoc's FDA-cleared and CE-marked solutions support and enhance the impact of radiologist diagnostic power, helping them expedite patient treatment and improve quality of care.
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| Bardy Diagnostics | Series B | $35.50 | River Cities Capital Funds, HealthQuest Capital, Aperture Venture Partners, Aphelion Capital, Lumira Ventures, Rex Health Ventures, V Health Investors, Health Enterprise Partners and Ascension Ventures | Bardy Diagnostics will be leveraging the funds to expand its sales force and monitoring services, pursue development of augmented intelligence and visualization capabilities, and generally fuel the growth of its platform. |
Bardy Diagnostics’ primary product is the Carnation Ambulatory Monitor (CAM), a P-wave signal-capturing wearable that can be used to remotely monitor patients’ cardiac activity or detect arrhythmia over a seven-day period.
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| Biofourmis |
