Devoted, Bright Health top Q4 funding

This quarter digital health companies raised $1.18 billion in funding.
By MobiHealthNews
04:59 pm

In Q4 2018, Devoted and Bright Health — two companies involved in the payer space — topped the funding list, raising $300 million and $200 million in funding respectively. This quarter MobiHealthNews reported on 52 digital health funding deals that raised approximately $1.18 billion. This is down from last quarter, which reported a record-breaking $3.3 billion in investments, but sets a record-breaking year-end total $7.7 billion in digital health investments. 

Read on for a list of the Q4 fundraises, and check out Q1, Q2, and Q3

Company Round/Series Amount Investors What's it for What they do
Devoted Series B $300M Andreessen Horowitz (lead), Premji Invest and Uprising The company will use the money to continue growing the business. The company uses technology to blend health insurance with provider services.
Bright Health Series C $200M Declaration Partners, Meritech Capital, Bessemer Venture Partners, Cross Creek Advisors, Flare Capital, Greenspring Associates, Greycroft Partners, New Enterprise Associates, Redpoint Ventures and Town Hall Ventures "Bright Health will be using its new funding to push into additional markets while supplementing and expanding its tech." Through its Care Partner Health Plan business model, Bright Health looks to partner with just a single health system per market to more seamlessly embed its payer services into the patient's care journey.
Enable Injections Series B $50M Sanofi (lead) ORI Healthcare Fund, CincyTech, Cincinnati Children's Hospital, Cintrifuse, Ohio Innovation Fund, Cleveland Clinic and others Undisclosed The company makes manual and connected adhesive wearables for subcutaneously therapeutic delivery.
98point6 Series C $50M Merchant Banking Division of Goldman Sachs (lead), with additional support from the company's prior backers Undisclosed The startup offers an on-demand, texting-based primary care service for consumers and plans.
Alto Series C $50M Zola Global and Greenoaks Capital (lead) participation from Jackson Square Ventures, Olive Tree Capital and other unnamed investors The latest funding will help the company push its tech-driven prescription delivery service to new regions within the US, as well as expand its product line for chronic and complex conditions. Alto's service features a patient app that helps users order and refill their prescriptions, understand costs, speak to a pharmacist on demand and coordinate care with their provider or insurer.
Freeletics Series A $45M FitLab, Causeway Media Partners, JAZZ Venture Partners (leads), Courtside Ventures, Elysian Park Ventures, and Tony Robbins. Undisclosed Founded in 2013, Freeletics has built a number of fitness and training apps for European markets. Its flagship Freeletics Fitness Coach app, for instance, uses artificial intelligence to build personalized training plans for users.
Ark Series A $40M Shareholders of Venturecraft (lead) and backed by Gaorong Capital (formerly known as Banyan Capital) Undisclosed It is a medtech enterprise focused on early cancer detection.
WhiteSwell Series B $30M RA Capital Management and InCube Ventures (lead) This series is to support a pivotal trial and advance the development of its therapy system for the treatment of acute decompensated heart failure (ADHF). WhiteSwell is developing a minimally invasive catheter-based approach to remove excess fluid in the interstitial system in patients with ADHF more efficiently, aiming to achieve complete decongestion and help keep patients out of hospital for longer periods of time.
RapidSOS Series B $30M Playground Global (lead) Highland Capital Partners, M12, Two Sigma Ventures, Forte Ventures, The Westly Group and CSAA IG The new money will help the company develop its emergency response platform. RapidSOS' platform takes various devices and data sources — including health information from wearables, telematics from connected cars, smoke density from smart homes and location tracking from mobile devices — and links these directly to 911 responders during an emergency.
Renalytix   $29M Money was raised through an IPO on the London stock exchange. The company said the new money will be used to help it develop two products designed for early kidney disease detection and transplant management, including organ rejection. The company makes a clinical diagnostic that uses artificial intelligence to diagnose for kidney disease.
Lumeon   $28M LSP (lead) MTIP, Gilde, Amadeus Capital Partners and IPF Partners Lumeon's new money will be used to build its US team and its Boston headquarters. The company said it will also be looking to use the financing to scale its commercial operations and accelerate customer deployments in the US region. Lumeon is a digital health startup that employs automation to help with operational functions.
Carrot   $25M Johnson & Johnson Innovation (JJDC) (lead), New York Life Ventures, Khosla Ventures, Marc Benioff, R7 Partners and Dr. David Utley, Carrot's founder, president and CEO The new funding will serve to commercialize its smoking cessation tech platform, Pivot. Carrot makes a smoking cessation app and its paired, FDA-cleared breathalyzer device.
Think Research   $25M Fidelity Investments Canada ULC, Kayne Partners, Canaccord Genuity Group and National Bank of Canada The money will be used to further build up its product line, expand into new markets and develop more advanced machine learning capabilities for its service. The company makes a suite of digital clinical support tools.
PatientPop   $25M Leerink Transformation Partners The latest funding will help the company expand and develop its product. The platform offers doctors a marketing service to grow their practice.
K Health Series B $25M 14W (lead) Comcast Ventures, Mangrove and other unnamed angel investors The company will be expanding with a new fully staffed virtual care feature in early 2019. The company makes an artificial intelligence-powered app for consumer health education and linkage to primary care.
Oncology Analytics Series B $21M Oak HC/FT (lead), McKesson Ventures, Blue Cross Blue Shield Venture Partners and Sandbox Advantage The company said the new money will help it expand its oncology benefits management capabilities and invest in data analytics, data science and innovative digital health technology. It is a technology company focused on helping organizations apply and manage benefits for cancer care.
eGYM Series D $20M NGP Capital (lead), Highland Europe and HPE Growth Capital The money will be used to help fuel its expansion in the US. eGym provides digital training machines and software.
Thirty Madison Series A $15.25M Maveron and Northzone (led) Greycroft, Steadfast Venture Capital, First Round, Entrepreneurs Roundtable, HillCour and Two Rivers The company plans to use the new money to launch a platform that will cater to patients with migraines, which it will call Cove.  
Flo Health Series A $12M Mangrove Capital Partners (lead) Flint Capital and Haxus The company plans to use the new money for the startup's next growth phase, as well as product improvement. The company uses AI to personalize the platform and takes users' age, health goals and physical condition into consideration.
Hero Series A $12M Brainchild Holdings (lead), Box Group, Third Kind Venture Capital, Refactor Capital, and Spider Capital The company used the money to bring the product to launch. Hero is a medication adherence system consisting of a countertop device, refill service, and connected app.
K4Connect Series B $12M AXA Venture Partner The company plans to use the new money in a number of ways, including further developing the K4Community platform and Fusion platform/OS technologies, as well as expanding its customer base. K4Connect is digital health company focused on tech for seniors and people with disabilities.
Simple Habit Series A $10M Foundation Capital Undisclosed Simple Habit's app offers more than a thousand guided meditations from famous mindfulness and meditation teachers.
Opternative   $9M Trust Ventures and Pritzker Group Venture Capital (lead) Jump Capital The company will put towards doubling the size of its engineering, product, sales and marketing teams; and building awareness among consumers, employers and eye care providers of its various vision tests. Opternative is an online refractive eye exam company.
TeleClinic Series A $7.96M Idinvest Partners the telemedicine company will use this backing to scale its offerings through new partnerships and increased marketing. TeleClinic's 24-7 service offers voice and video tele-visits with practitioners of more than 30 different clinical specialties.
NowRx Series A $7M Crowdfunded through platform SeedInvest The funding will use the new backing to continue developing its technology, and expand its service to additional areas within California. NowRx is an online pharmacy specializing in same-day, same-hour prescription deliveries.
Tridiuum Series B $7M Sopris Capital (lead), Fresenius Medical Care Ventures, Ben Franklin Technology Partners of Southeastern and Pennsylvania and Martinson Ventures The new investment will help the company expand its sales team and marketing efforts, as well as pursue new features and other strategic product developments. Tridiuum's cloud-based predictive analytics platform, called Tridiuum1, looks to improve the identification, treatment and management of behavioral health conditions. The service is integrated with EHRs and health systems' other software, allowing it to deliver actionable insights across the continuum of care.
Myia Labs Seed $6.75M BootstrapLabs and Zetta Venture Partners (lead), American College of Cardiology (ACC) and The Boston Consulting Group Undisclosed Myia Labs makes a platform that applies AI health monitoring to consumer wearables.
Oura Health   $6.5M MSD Capital (lead), YouTube cofounder Steve Chen; Twitch cofounder Kevin Lin; Sunrise founder Dave Morin; and a number of unspecified investors Undisclosed Oura Health makes a sleep- and activity-tracking smart ring.
WEconnect Series A $6.05M ServiceNow founder Fred Luddy, Buckingham Capital Management Chairman Larry Leeds Jr., Metalab founder Andrew Wilkinson, CEO of Venturehouse Mark Ein, and others Undisclosed WEconnect is an app that helps addiction patients through their first year after substance abuse treatment.
H1   $6M Shore Group The new money is expected to help the New York-based company speed up its growth and development. H1's platform combines public clinical and scholarly databases with AI with the goal of helping healthcare professionals with targeted databases.
Vivante Health Series A $6M NFP Ventures and FCA Venture Partners The new funding and partnerships will fuel its plans to sell the GIThrive platform to health plans and employers. Vivante makes a digital program for digestive health and disease called GIThrive that includes, among other tools, a 24-7 support line to a gastrointestinal care team.
Carepoynt   $5M Undisclosed The new money will be used for expansion and marketing growth. Carepoynt is an incentive-based health platform.
Knowtions Research Series A $5M Venture Partners (lead), Alibaba Entrepreneurs Fund The new financing will be put toward scaling the deployment of its Lydia AI platform and doubling its team within the next few months. Knowtions Research makes an artificial intelligence insights platform for heath insurers.
Kinetic Seed $4.5M Crosslink Capital, Primary Venture Partners and others Kinetic plans to use these funds to expand its manufacturing capabilities and grow its business. Kinetic makes a wearable device that monitors for unsafe postures and activity among deskless or active workers.
1Drop Diagnostics Series A $4.25M Christian Wildmoser (lead), Swiss Startup Group investor Dr. Hans-Peter Strebel, Beat Schillig of IFJ Institute for Young Entrepreneurs, Jean-Philippe de Toledo of Pharmacie Principale and VentureLab. The new money will help the company conduct clinical studies, pursue regulatory approvals, develop EHR integration and machine learning capabilities, and commercialize the platform. 1Drop Diagnostics is a smartphone blood lab startup.
Optina Diagnostics Seed $4M Zoic Capital (lead), Desjardins Capital, DigitalDx Ventures, Pallasite Ventures, Barney Pell, Barney Pell's AngelList Syndicate, and Hike Ventures. The funding will allow the company to begin focusing on the regulatory approval of its initial screening tool. The company uses spectral retinal imaging and artificial intelligence to scan for early Alzheimer's disease.
Ezra Seed $4M Accomplice (lead), Founders Future, Credo Ventures, Seedcamp, Esther Dyson and various unnamed startup founders and angel investors. The company said that it is working on designing an technology that uses MRI scans to help radiologists with their diagnoses. Ezra is an AI-powered cancer screening platform.
Forward Health Seed $3.9M Sride.VC (lead), Albion Capital and angel investors Undisclosed Forward Health's GDPR-compliant app allows care teams and clinicians to not only send each other quick smartphone-to-smartphone messages, but also securely share patient profiles or photos. The free-to-download app allows users to create, update and share patient or task lists. Further, Forward Health enables connections across NHS hospitals via a search function that filters by staff role, specialty, on call status, and more.
Raremark   $3.9M AlbionVC and Ananda Ventures (leads), with Oltre Ventures and Cass Entrepreneurship Fund The platform plans on using the new money to build a patient engagement and data analysis tool. The company engages with both patients and biopharmaceuticals. On the life sciences side, it lets researchers see the anonymized and aggregated patient data. It also engages with patients by giving them "easy-to understand" information.
Basis   $3.75M Bedrock (lead), Wave Capital and Lightspeed Venture Partners Undisclosed Basis offers consumers voice or video sessions with mental health specialists for $35 per 45-minute session. Sessions are initiated directly through the mobile app or Basis' website after users sign up and complete a basic questionnaire, and each is completely confidential.
Mediktor   $3.46M Alta Life Sciences (lead), Castel Capital, Naos, and several other individual investors Undisclosed Mediktor makes a non-diagnostic consumer-facing symptom checker for pre-diagnosis, triage, and decision-making support. Users can access the symptom checker online or via an app. The symptom checker is offered directly to consumers or as a whitelabeled product for hospitals and health plans.
Sopris Health   $3.4M Access Venture Partners, Cue Capital, Tallwave Capital, Cedars-Sinai Accelerator, Techstars and Rockies Venture Fund Undisclosed The Sopris system includes a smartphone platform and smart watch app. It alsoworks as an artificial intelligence medical scribe app. When prompted the system has the ability to capture the physician's conversation with a patient, according to the company, and can then automatically generate structured SOAP notes for the physician to review.
Deep Lens Seed $3.2M Sierra Ventures (lead), Rev1 Ventures and Tamarin Hill Fund The company is focusing on improving product workflows to facilitate collaboration between different pathologists as well as between pathologists and patients. It's also in process of adding AI-powered image detection, cloud storage, and built-in APIs that will allow the product to integrate with other clinical tools. Pathology groups can ship slides to Deep Lens, and Deep Lens will provide them with digital versions of the slides within 48 hours. They also get access to Deep Lens's flagship product VIPER, or Virtual Imaging for Pathology Education and Research, a cloud-based collaboration platform for pathologists.
Visla Labs Seed $3M Lux Capital (lead), Dick Costolo, Adam Bain and others Visla said that it plans to use these new funds to expand its team, scale product features and pursue regulatory approval. The startup's first software offering uses AI to increase the accuracy, speed and cost of radiology diagnoses. Founded in 2018 by Stanford, Apple and Twitter vets, the company said in a statement that early versions of its technology are currently employed by over 30 locations in the US and Asia.
Aura Seed $2.7M Cowboy Venture and Reach Capital The investment will be used to expand the company's development team and secure new content for the app, which currently includes guided meditations, calming nature sounds and music, short stories and life coaching videos. Aura is a free-to-download daily meditation and emotional wellbeing app.
Papa Seed $2.4M Initialized Capital (lead) and Sound Ventures The new money is expected to help Papa's platform grow throughout Florida and expand to new markets. Papa's service lets seniors request a college student to help with transportation, household chores, technology lessons and companionship. Users first access a free consultant to learn about how the service could work for them. They can then access the service by downloading the app, texting or calling. From there, seniors request a visit from one of the college students.
First Mile Care Seed $2M Health2047 The new entity will use its $2 million in seed funding to build a scalable platform for connecting people with prediabetes to coaches and demographic-appropriate behavior change guidance. By pulling zip code-specific demographic data, users are matched with coaches that can consider potential social and geographic determinants of health when counseling a patient. With this information, the 16-week program looks to help individuals self educate, develop personalized action plans, and adopt small but meaningful changes in behaviors that could prevent a long and costly chronic condition.
Group K Diagnostics Series A $2M Undisclosed The new backing will mainly be used to expand the company's lab infrastructure through new lab technician hires. The company's primary product is the MultiDiagnostic, a platform that uses paper microfluidic technology that generates a visual result after contact with a liquid sample. Users can take a photo of this result and upload it to an app to receive their results.
MedPilot Seed $1.7M Hudson River Capital Partners, Valley Growth Ventures, Cedars-Sinai Medical Center, Techstars and investor Tom Hirscheld The company said the new money will support workforce expansion and the launch of new functionality to help providers engage with patients. The platform employs machine learning to personalize communication methods, content and payment options for patients. It also helps the administrative team track the patient experience.
Enzyme Health Seed $1.7M Silverton Partners and private investors Undisclosed Founded in 2018, the startup employs machine learning to match doctors and nurse practitioners to jobs that fit their skillset and desired schedule. Clinicians can chose to work part time or full time. The startup positions itself as an alternative to a traditional hospital position.
FundamentalVR   $1.4M Tern Plc The company is looking to further develop its various simulation products while increasing access to its platform. FundamentalVR's surgical training platform combines VR with haptic sensors so that a user receives physical feedback simulating the feel of performing the operation. Each user can log into their personal account and track progress, access assessments and get feedback. It also allows administrators to give feedback to students or surgical staff.
AdhereTech   Undisclosed Argentum The company will use the new money to expand its sales and partnerships team, as well as hire additional software engineers. AdhereTech is a seven-year-old digital health startup focused on smart pill bottles and medication adherence. It works with payers, pharmacies, and pharma companies to create adherence programs for patients built around the company's cellular-connected pill bottle and a growing data collection and analysis architecture.
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