H1 2021 funding: Baby, you’re a firework
Fresh off the Fourth of July holiday weekend, we’re still seeing fireworks. Our H1 2021 report is out and the verdict is in: digital health funding is popping off, to the tune of $14.7B in H1—already surpassing 2020’s record-breaking total funding. The half closed with 372 deals and an average deal size of $39.6M, spearheaded by 48 mega deals which accounted for 59% of total funding. Public exit activity also ballooned with 11 closed IPOs and SPACs (+1 on Friday), with another 10 SPACs expected to close in 2021. It’s been a wild ride watching digital health blast off from niche sector to mainstream market, and it isn’t showing signs of slowing down: we just had another $1B+ week in funding. Read our H1 analysis here.
The same Rock Health Summit you know and love is back—and better than ever. This year, we’re introducing the Rock Health Summit Innovation Fellowship program, which recognizes emerging innovators, health equity leaders, and startup entrepreneurs with an opportunity to attend in person. Nominate a Fellow!
Headlines
Ro Buys Kit, A 17-Month-Old Startup That Offers At-Home Health Testing
Continuing their acquisition tear as we continue to beat the platform wars drum TechCrunch
Former CMMI Chief Launches Value-Based Care Company Targeting Rural Providers
A business model to make good on the growth of Medicare Advantage? Fierce Healthcare
Ethics And Governance Of Artificial Intelligence For Health
WHO releases guidance for AI in healthcare World Health Organization
Why Google Is Focusing Consumer Health Efforts On Fitbit
Big tech is still figuring out its role in healthcare MedCity News
Biden Administration ‘Absolutely Supportive’ Of Efforts To Expand Virtual Care
Fingers crossed the supporting legislation follows shortly Fierce Healthcare
Recent Funding
- Healthcare automation startup Olive lands $400M
- Clinical drug trial software 4G Clinical rakes in $230M
- Gympass adds $220M as it pivots to become an employer corporate wellness benefit
- Real world data management platform HealthVerity nets $100M
- Fightcamp, a sensor-connected boxing workout, punches its way to $90M
- Virtual MSK care provider Sword Health closes on $85M
- XSOLIS, a tech firm streamlining healthcare utilization management, bags $75M
- Cardiovascular care delivery platform Novocardia raises $53.7M
- Enveda Biosciences, which uses AI to power plant-based drug discovery, gets $51M
- Patient-provider engagement platform Tendo Systems closes $50M
- Digital concierge for employer-sponsored healthcare Wellthy nabs $35M
- Syllable gets $28M to revamp customer service conversations in healthcare
- Main Street Health launches with $26.4M to serve rural America
- Predictive hospital operations platform Hospital IQ secures $25M
- Alio Medical, a wearable that collects real-world data for clinical trials, nets $20M
- EHR system for neuropsychiatry Osmind brings in $15M
- PairTree, a platform that connects biological parents and adoptive families, grabs $2.3M