Digital health funding is off to a roaring start in 2020

Despite the onset of COVID-19 throughout the world, the first quarter of 2020 were host to healthy digital health investment.
By MobiHealthNews
03:31 pm

Coronavirus may have thrust the markets into a tailspin, but the impact of that economic uncertainty doesn't seem to have hit the digital health startup quite yet.

During the first quarter of this year, MobiHealthNews tracked 82 funding deals totaling $2.9 billion — a staggering jump over the 49 deals and $1.4 billion collective raise of Q1 2019. It also had a small handful of late-stage, big-ticket rounds coming from a variety of business models: fitness benefits, digital pharmacies, tech-enabled primary care and telehealth, to name a few.

See below for the full list of funding announcements reported by MobiHealthNews this quarter, along with links to their associated news stories.

Company Round/Series Amount (M) Investors What's it for What they do
ClassPass Series E $285 L Catterton, Apax Digital and Temasek The company said that the new funds will help further scale its platform internationally.
The ClassPass platform allows users to sign up for a single subscription membership that allows them to participate in local fitness classes in exchange for credits.
Alto Series D $250 Softbank's Vision Fund 2, Greanoaks Capital, Jackson Square Ventures and others Alto has not shared its plans for the funds.
The core of Alto’s digital pharmacy business is a tech-enabled platform for free, same-day medication delivery.
KRY Series C $152 Ontario Teachers’ Pension Plan’s Teachers’ Innovation Platform, Index Ventures, Creandum and Accel KRY said in its announcement that the new funding will power its push into additional European markets.
Patients who input their symptoms through KRY's app can schedule a 15-minute video consultation with a healthcare professional via mobile phone, tablet or browser.
Concerto HealthAI Series B $150 Declaration Partners, Maverick Ventures, AllianceBernstein PCI and SymphonyAI Group The new funds will help the company focus on developing its products and services, expand beyond precision oncology and into new therapeutic areas, and develop commercial patient offerings.
Concerto works on a clinical insight generation platform that employs real-world data in its analysis.
Element Science Series C $145.60 Deerfield Healthcare, Qiming Venture Partners USA, Cormorant Asset Management, Invus Opportunities, Third Rock Ventures and Google Ventures These funds will continue to support clinical testing of the Jewel Patch product, and the development of more Jewel devices for other clinical areas.
Element Science is currently conducting clinical testing on its primary product, the Jewel Patch Wearable Cardioverter Defibrillator.
Alignment Healthcare Series C $135 Fidelity Management & Research Company, Durable Capital Partners L.P. and multiple funds and accounts advised by T. Rowe Price Associates Alignment said that the new funds would help the insurer strengthen its tech platform and plan offerings as it looks to speed up its growth within the Medicare Advantage market.
Alignment is a Medicare Advantage insurer that relies on a tech platform to manage its members' shifting data in real time.
Iora Health Series F $126 Premji Invest, Cox Enterprise, Temasek F-Prime Capital, Devonshire Investors, .406 Ventures, Flare Capital Partners, Polaris Partners and Khosla Ventures The company plans to use the new funds to build a Medicare Certified EHR system.
The Boston-based startup provides patients with care at brick-and-mortar locations, as well as through digital tools including text messages, emails and calls.
Verana Health N/A $100 GV, Bain Capital Ventures, Casdin Capital and Define Ventures The company plans to expand its analytics to integrate imaging, genomics and claims data sources.
Verana's curates and analyzes real-world clinical data within ophthalmology and neurology.
Virta Series C $93 Caffeinated Capital, Venrock, Obvious Ventures, Creandum, Playground Global and SciFi VC The new capital will be put towards growing the company’s product and reach.
Virta's digital Type 2 diabetes coach combines a digital offering of coaching and remote monitoring with a nutrition-based ketogenic diet.
Hinge Health Series C $90 Bessemer Venture Partners, Lead Edge Capital, Insight Partners, Atomico, 11.2 Capital, Quadrille Capital and Heuristic Capital Hinge Health’s leaders believe that the time is right to dip into private equity so that the MSK company can expand its product lineup and workforce.
The San Francisco-based company’s digital platform uses wearable sensors and one-on-one health coaching to deliver in-home MSK therapy.
Lyra Health Series C $75 IVP, Meritech Capital Partners, Casdin Capital, Crown Venture Fund, Glynn Capital, Greylock Partners, Providence Ventures, Tenaya Capital and Venrock Lyra Health plans to expand its platform and network of mental health providers.
Lyra’s platform primarily serves to match employees and their dependents to mental health care professionals and personalized, evidence-based treatments.
Innovaccer Series C $70 Steadview Capital, Tiger Global, Dragoneer, Westbridge, Mubadala and Microsoft’s M12 The company wrote in its announcement that these funds would be used to further strengthen its data-driven platform.
By using artificial intelligence and data analytics, Innovaccer’s products handle a slew of processes for healthcare organizations.
Cera Care N/A $70 Kairos The funding coincided with Cera Care's launch of its SmartCare technology platform.
SmartCare utilises machine learning and data analytics to predict the onset of health deteriorations in patients before they manifest.
Headspace Series C $53 blisce/, Waverly Capital, Times Bridge, The Chernin Group, Spectrum Equity and Advancit Capital Headspace plans to continue growing its D2C, B2B and international offerings.
Headspace’s primary product is a free-to-download meditation app, but it also offers products for employer benefits programs.
Olive N/A $51 General Catalyst, Drive Capital, Oak HC/FT, Ascension Ventures and other unnamed investors Olive said that these funds will boost the AI company's growth, and "further its mission" of offloading the burden of administrative processes from hospital staff.
Olive's "AI Workforce" is designed to automate a selection of tedious, high-volume administrative tasks for healthcare organizations.
Komodo Health Series C $50 Andreessen Horowitz, Oak HC/FT, IA Ventures and Felicis Ventures Komodo is looking to expand its platform with the raise.
The company offers an analytics and insights platform for healthcare, life sciences and advocacy groups seeking a more detailed look into patient healthcare journeys.
K Health Series C $48 14W, Mangrove Capital, Anthem, Lerer Hippeau, Primary Ventures and other unnamed backers K Health will be expanding its product into new markets and refining the symptom checker tool.
K Health’s artificial intelligence questions users about their health issue and then shares how similar cases have been diagnosed and treated in the past.
Bigfoot Biomedical Series C $45 Abbott, Quadrant Capital Advisors, Senvest Capital, Janus Henderson and Cormorant Asset Management The company said that these funds will support continued product development, FDA regulatory submission and clinical trials.
The Milpitas, California-based company is building an insulin delivery system able to connect to smartphones and other management devices.
Advantia N/A $45.00 BlueMountain Capital Management This latest funding will enable the company to expand its practice with the goal of integrating OB-GYN, primary care, mental wellness and other health services.
The Arlington, VA-based startup provides women with medical care in a variety of physical locations, as well as through digital channels.
Intelycare Series B $45 Endeavour Vision, Kaiser Permanente Ventures and Generator Ventures The company said it plans to use the new money to continue to build its gig economy platform and data science tech.
The company focuses on matching nurses and certified nursing assistants with acute healthcare facilities for certain shifts.
Maven Series C $45 Icon Ventures, Sequoia, Oak HC/FT, Spring Mountain Capital, Female Founders Fund, Harmony Partners and individual investors Maven said the new money will be used to invest in its core digital offerings.
Maven currently offers digital health programs for women and children. It specializes in fertility, maternity, return-to-work and pediatric care.
Q Bio Series B $40 Andreessen Horowitz and Vinod Khosla The company plans on investing the new funds into improving its tech and making it more affordable for a broader population.
The company conducts a full workup of patients based on biomarkers it deems relevant to determine patients' risk factors.
Intuition Robotics Series B $36 SPARX Group, OurCrowd, Toyota AI Ventures, Sompo Holdings, iRobot, Union Tech Ventures, Happiness Capital, Samsung Next, Capital Point and Bloomberg Beta The company said in its announcement that the raise would fund the continued development of its tech and AI capabilities.
Intuition Robotics’ AI efforts are split into two camps: digital assistants designed for use inside of a car, and a countertop companion robot for seniors called ElliQ.
Modern Health Series B $31.00 Founders Fund, John Doerr, Keliner Perkins and Afore Capital The startup plans to use the new funds to accelerate product development and expand globally.
The San Francisco-based startup works with employer organizations to provide its members with a digital mental health platform.
HealthJoy Series C $30 Health Velocity Capital, US Venture Partners, Chicago Ventures, Epic Ventures and other individual investors. The company will be looking to improve its existing AI tech, develop new services, make new hires and integrate with more business partners.
The core of HealthJoy's approach is Joy, a virtual assistant that helps users understand their benefits packages and navigate their care options through artificial intelligence-guided conversation.
Vault Health N/A $30 Tiger Global Management, Redesign Health and Declaration Capital According to its website, Vault has plans to expand its services across dozens of U.S. states and major population centers, including Chicago, Philadelphia, Boston, Los Angeles and Las Vegas.
Vault looks to improve mens' sexual, mental and wellness health with prescription hormone-replacement therapies and other health supplements.
Arcadia N/A $30 Cigna Ventures and existing shareholders Arcadia did not disclose how it would be applying its new funds.
Arcadia develops a population health analytics technology platform for plans, providers, employers and life science groups.
Oura Series B $28 Forerunner Ventures, Square and Google's Gradient Ventures Oura's new funds will help the company acquire new staff members, revamp its branding and target new academic research partnerships.
The Oura Ring hosts a number of different sensors designed to monitor the wearer’s health while they sleep or engage in physical activities.
Doctor Anywhere Series B $27 Square Peg, EDBI, IHH Healthcare, Pavilion Capital and Kamet Capital The telehealth startup will use the funds for its extensive expansion to augment the region’s healthcare landscape through digital transformation, with the support of strong local and regional partners.
Doctor Anywhere is a video telehealth consultation service active in Southeast Asia.
Nanox N/A $26 Foxconn, Fujifilm and SK Telecom The current round will help Nanox develop, commercialize and deploy its Nanox System, the company said in its funding announcement.
Nanox has built a "digital X-ray" offering comprised on an in-hospital device and accompanying cloud software analysis tool.
Pager N/A $24.50 Health Catalyst Capital, Horizon BlueCross BlueShield of New Jersey, Goodwater Capital, Three Fields Capital, New Enterprise Associates and Lux Capital Pager said that its raise would support new market expansion, new product launches and scaling of its platform and clinical operations in New York City and Raleigh, North Carolina.
Pager's platform seeks to guide users throughout the course of their care experience, from an initial in-app encounter with a live nurse, to scheduling appointments, to paying for those services.
Covera Health Series B $23.50 Insight Partners, Prism Ventures and other prior backers The funds will allow the company to increase its data science R&D, particularly in its initial focus area of radiology.
Covera is a clinical data analytics company aiming to reduce medical misdiagnoses.
Zipari Series B $22.50 Vertical Venture Partners, Health Velocity Capital, Healthworx and Horizon Healthcare Services The startup plans to widen distribution channels, expand partner integrations, and scale the development of its product lines.
Zipari's technology platform seeks to engage consumers in their health insurance and improve patient experience.
Oviva Series B $21 MTIP, Earlybird, AlbionVC, F-Prime Capital, Eight Roads Ventures and Partech The new capital will be used to further develop Oviva’s technology and expand in Europe.
Oviva offers an evidence-based digital solution to stop the progression of and reverse Type 2 diabetes and obesity-related conditions.
DrChrono N/A $20 ORIX Growth Capital DrChrono said it would be reinvesting these funds into its tech platform, as well as in the growth of its engineering, sales and support capabilities.
The mobile-friendly EHR maker is known for its open platform featuring an API and app marketplace.
Suki Series B $20 Flare Capital Partners, Breyer Capital, Epsilon Health, First Round Capital and Venrock The company plans to use the new funds to expand its partnerships, and build new AI capabilities and new features to "streamline documentation, coding, billing, and other administrative tasks."
The Redwood, CA-based startup pitches its AI-powered digital assistant as a way for providers to cut down on paperwork.
RubiconMD Series C $18 Deerfield Management Company, Optum Ventures, HLM Venture Partners, Waterline Ventures and Heritage Provider Network RubiconMD said in its announcement that these funds will help the company "leverage its data to deliver new product offerings to better serve primary care clinicians."
RubiconMD looks to deliver speedy access to asynchronous specialist consults for primary care practices and other provider customers.
AristaMD Series B $18 Cigna Ventures, MemorialCare Innovation Fund, Avalon Ventures, CU Healthcare Innovation Fund and Stanford Health Care The new infusion of cash is expected to help the company grow its services and products.
The startup focuses on giving primary care providers virtual consultations with specialists.
Health Scholars Series B $17 Arboretum Ventures, Venture Investors, Capital Midwest Fund, OSF HealthCare and other family office seed funders The new funds will be put towards expanding the customer base of the product to the hospital and public safety market, and to build out its VR library.
The company uses VR to simulate a variety of clinical situations including operation, resuscitation and obstetric scenarios for educational purposes. N/A $16 Sequoia India and MassMutual Ventures Southeast Asia The fresh funds will be used for geographical expansion, product portfolio expansion and to support regulatory clearances.
The startup builds AI systems to assist doctors in reading X-rays and CT scans.
Sparta Science Series B $16 GSR Venture US, Arsenal Growth and existing investors The funds will be put towards new engineering staff, research and the deployment of the tech into health systems and provider organizations.
Sparta Science uses data analytics to help users come up with an individualized plan in order to either reduce injury risk or improve their physical performance.
b.well Connected Health Series A $16 UnityPoint Health VEntures, ThedaCare and Well Ventures The company didn’t specify exactly how the new funds would be used.
b.well aims to help curb patient information overload by bringing various health, financial and behavioral data points together.
Cardiologs Series A $15
Alven, Bpifrance, ISAI, Kurma Diagnostics, Idinvest Partners and Paris Saclay Seed Fund
The funds will help the company boost its sales and marketing efforts, and further build out its platform.
Cardiologs' product is capable of spotting 100-plus cardiac abnormalities from ECG recordings.
Inato Series A $14 Obvious Ventures, Cathay Innovation, Serena and Fly Ventures The startup said that it is aiming to build out the predictive capabilities of its clinical trial platform.
Inato has developed a platform that helps biopharma clients select the optimal site for their clinical studies.
Wheel Series A $13.90 CRV, Tusk Venture Partners and Silverton Partners Outside of supporting its launch, Wheel did not specify how the new funds would be used.
Wheel’s strategy is comprised of two major avenues: telehealth staffing opportunities for practitioners, and a scalable telehealth platform for companies.
Quit Genius Series A $13.50 Octopus Ventures, Y Combinator, Startup Health and Triple Point Ventures The company plans to use the funds to grow its product line and increase the scope of patients they treat.
The company is geared at treating individuals with tobacco-, opioid- and alcohol-use disorder through digital cognitive behavioral therapy programs.
Oxford VR Series A $12.20 Optum Ventures, Luminous Ventures. Existing backers Oxford Sciences Innovation, Oxford University Innovation and GT Healthcare Capital Partners Oxford VR is set to accelerate its expansion in the US and grow its treatment pipeline.
Oxford VR looks at the potential of VR in creating automated psychological treatments.
CloudCath Series A $12 Capital Integral, FundRx, The Capital Partnership, Coconut Tree Investments, Stanford University’s StartX Fund and other unnamed strategic and individual investors The startup said in its announcement that its raise will support commercialization of its first product, as well as the development of more applications built on their remote monitoring tech.
CloudCath’s initial product is a connected device and monitoring software designed for end stage renal disease patients receiving peritoneal dialysis in their homes.
Boulder Series A $10.50 Tusk Ventures and Greycroft Partners The latest funds will be invested in research, education and training more peer coaches.
The startup connects patients seeking treatment for opioid use disorder to teams of addiction specialist, care coordinators and peer coaches through a telemedicine platform.
Ribbon Health Series A $10.25 Andreessen Horowitz , Y Combinator and BoxGroup The new funds will be put towards expanding the company’s tech and team.
Health Ribbon’s platform uses an API layer that integrates data on doctors, payers and costs for easier workflow.
Unmind Series A $10 Project A and Felix Capital The new infusion of cash is set to help the company expand its global footprint.
Unmind provides mental health assessments to help employees track their mental health over a period of time.
Okadoc Series A $10 Abu Dhabi Investment Office, Ithmar Capital Partners and other institutional and private investors The new funding would drive its expansion into Saudi Arabia and other member countries of the Gulf Cooperation Council.
Okadoc makes a doctor booking platform with telemedicine components.
Cloudbreak Health N/A $10 Columbia Partners Private Capital The company said it plans to use the new funds to grow it sales team and build out its technology.
Cloudbreak Health combines telehealth and integrated language services aimed at helping patients with limited English proficiency or who are hard of hearing.
Diligent Robotics Series A $10 DNX Ventures, True Ventures, Ubiquity Ventures, Next Coast Ventures, E14 Fund, Promus Ventures and Grit Ventures The raise will help scale the product for a broader customer base. It's also continued support for the company's hardware and software development.
Diligent Robotics develops a robotic assistant for non-patient-facing hospital tasks.
Sword Health Series A (phase two) $9 Khosla Ventures, Founders Fund, Green Innovations, Lachy Groom, Vesalius Biocapital and Faber Ventures The company plans to put the new funds toward distribution, partnerships, sales and marketing. It also plans strategic product, clinical and operational investments.
Sword works with insurers, health systems and self-insured employers to provide tech-enabled physical therapy to its members, with a focus on musculoskeletal disorders.
Rivet Health Series A $8.25 Menlo Ventures, Lux Capital and Pelion Venture Partners The startup said that these new funds will help grow its workforce, strengthen the platform's cost-transparency capabilities and solidify its role as an end-to-end patient billing suite.
Rivet's technology platform helps providers give their patients a pricing estimate prior to their services, as well as the option to pay beforehand or shortly after receiving care.
Heartbeat Health Series A $8.20 .406 Ventures, Optum Ventures, Kindred Ventures, Lerer Hippeau, Designer Fund and Max Ventures The new money is expected to increase the company's national footprint.
The company is focused on using digital tools to aggregate heart data and provide care management to patients.
Air Doctor Series A $7.80 Kamet Ventures and The Phoenix Insurance Company The new investment will be used to bolster Air Doctor’s medical network, R&D capabilities and for international expansion across the insurance, telecom, and credit card industries.
Air Doctor connects travellers who fall sick abroad with local private physicians who are skilled at treating non-emergency conditions.
Zeto Series A $7.30 Seraph Group, Aphelion Capital, SV Tech Ventures, and Shangbay Capital The new money will go towards accelerating the commercialization of the zEEG.
Zeo's zEEG headset is able to perform an EEG reading and then transfer those results onto a provider’s laptop, phone or tablet via the cloud.
Medloop N/A $6.50 Kamet Ventures and AXA The investment will be used to leverage the current infrastructure of Medloop and expand its product offering to help doctors deliver preventative care in Germany and the UK.
Medloop is an integrated patient management tool that offers doctors a browser-based dashboard to manage their patient base, and a native mobile application for patients to access care services.
Ride Health Seed funding $6.20 Activate Venture Partners, New York Ventures, Newark Venture Partners, BioAdvance and Startup Health The announcement did not include any specific uses for the funding.
The Israeli startup's platform works with healthcare stakeholders, namely drug manufacturers, to acquire and onboard new patients.
Vivante Health Series A1 $5.80 Lifeforce Capital, Big Pi Ventures, NFP Ventures, FCA Venture Partners and Longmont Capital The new funds will speed up Vivante's efforts on GIThrive, its digital digestive health program.
Vivante’s GIThrive is a digital digestive health program that includes an at-home microbiome testing kit, a breath-based food sensitivity monitor and other support tools.
Gento Series A $5 Palisades Growth Capital The startup said that these funds will support nationwide expansion of its technology platform.
Through its app-based platform, Gento matches care professionals with post-acute care providers such as home health agencies and skilled nursing facilities.
ResApp N/A $5 Unnamed investors The funds raised will be used to accelerate European commercialization and for general working capital.
ResApp creates smartphone apps for the diagnosis and management of respiratory diseases.
Gentem Seed funding $3.7 Susa Ventures, Village Global, Vulcan Capital, Hustle Fund, 500 Fintech, Social Starts, Great Oaks VC and other unnamed backers The company wants to build on the early success its seen among beta clients by focusing on three core aspects of its business: operations, business growth and engineering of its tech platform.
Built for smaller practices, Gentem’s tech platform not only handles an office’s end-to-end billing and revenue cycle processes, but also pays physician customers up front for their services.
ClinOne Series A $3.60 CU Healthcare Innovation Fund The new funds are expected to help the company expand its product line and grow the business.
The platform works with pharma companies, research groups, and clinical trial sites in order to recruit appropriate patients for their trial.
Legacy N/A $3.5 Section 32, Y Combinator and Bain Capital Ventures The company teased a handful of new products and services to be announced, including a "sperm score" rating.
Legacy’s business provides consumers with a mail-order semen collection kit and a subsequent digital fertility report.
Inbox Health N/A $3.5 Healthy Ventures, Collaborative Fund. Commerce Ventures, Connecticut Innovations, I2BF Global Ventures and StartUp Health The latest infusion of cash is expected to help the company to grow its footprint and customer base.
Inbox's system is able to automate patient communication for provider organizations and clarify questions for patients around their finances.
Embodied Labs Seed funding $3 Ziegler Link·Age, The Venture Reality Fund, SustainVC, WXR Fund and ETF@JFFLabs Embodied Labs is looking to increase its scale and reach.
Embodied Labs offers trainings for a variety of stakeholders, from hospices and healthcare systems to the call center of Best Buy’s senior products’ division.
Bloomer Seed funding $3 Material Impact, One Brave Idea and unnamed angel investors The company plans to put the new funds towards supporting its pilots and increasing its clinical data. It will also use the funds to develop commercial products and the user experience.
The MIT-spinoff is putting electrocardiogram sensors and machine learning algorithms into the fabric of a bra.
OncoLens Pre-Series A $2.50 Atlanta Technology Angels and the Robbins Fund This new infusion of cash is set to help the company grow its product and reach.
The startup has designed a platform that connects the care teams of patients with cancer in order to better coordinate on treatment plans.
Heart Health Intelligence Seed funding $2.20 Bemis Manufacturing Company, LaunchNY, RIT Venture Fund, Tech Coast Angels, Excell Partners and Impact Capital of New York The new funds will be used to help the technology go through the process of FDA clearance, then get it up and running for commercialization.
The Rochester, New York-based startup is focused on developing the Heart Seat, which combines a toilet seat with a cardiovascular monitoring system.
mediQuo N/A $2.16 Unnamed venture capital investors and family offices The funding comes at a time when the Spanish startup plans to introduce a new app called mediQuo Pro, aimed at doctors and health professionals, who will be able to use it to manage patient consultations.
The company offers a healthcare management app targeting Spain and Latin America.
Repisodic Seed funding $1.75 American Enterprise Group Repisodic plans to use the investment to buff its sales, marketing and technology teams through the first quarter of the new year.
Repisodic patient-facing, HIPAA-compliant tool looks to simplify discharge from care.
MedPilot N/A $1.50 Jumpstart, TurnCap, Northcoast Fund, Wavemaker Three-Sixty Health, Valley Growth Ventures, and Hudson River Capital Partners. The company will put the new funds towards growing its team and developing its product.
This Cedar Sinai spinout focuses on using AI and other digital components to engage patients about their medical bills.
Relay One N/A $1 Cofounders Capital The company said that it plans to put this $1 million towards growing its product and expanding its hospital network.
The North Carolina-based startup has developed a software that lets surgeons and healthcare providers communicate with medical-device vendors about cases.
Kaizen Health Series B Undisclosed UnityPoint Health Ventures The latest raise will help the company expand its sales and account management teams while fleshing out its existing platform.
Kaizen’s tech helps health systems, payers, senior living groups and other organizations simplify the ordering and coordination of NEMT for individuals.
Homage Series B Undisclosed EV Growth, Alternatve Ventures, KDV Capital and HealthXCapital With the injection of new funds, Homage will increase the scale of its operations via partnerships and internal investments.
Launched in 2017, Homage delivers personalized and holistic care to individuals, families, and organizations to enable wellness and recovery.

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