Q1 2023 funding: $3.4B across 132 deals

Is it just us, or does it somehow feel like Q1 2023 was simultaneously both a week and a year long? The past three months flew by but somehow managed to pack in both the hope of a funding upswing early on in the year followed by the rollercoaster of SVB’s collapse and its impact on the venture market. Throughout it all, digital health startups continued to raise funding—to the tune of $3.4B across 132 deals. Even with dollars trickling in, if funding for the next three quarters matches the average across the past three, 2023 is on pace for the lowest level of annual funding since 2019.

While we all sit tight to see how funding and economic contexts evolve, our Q1 funding recap breaks down the venture, banking, and policy waves breaking—and implications for startups, enterprises, and investors alike.


Generative AI Makes Headway In Healthcare
How providers are already using ChatGPT in their daily work The Wall Street Journal 

What’s Behind Losses At Large Nonprofit Health Systems?
Examining financial performance post-COVID Health Affairs

Increased Use Of Telehealth Associated With Reduced Risk For Fatal Overdose
Study findings support the continuation of providing telehealth services for opioid use disorder NIH

Instacart Expands Health Division With Provider-Facing Tools
New nutrition tools let providers recommend food, recipes, and grocery lists to patients MobiHealthNews

Uber Health Expands Same-Day Prescription Drug Delivery
Looks like a last-mile delivery war may be afoot Axios

Unwinding The Continuous Enrollment Provision
Perspectives from current Medicaid enrollees KFF

AWS Announces Healthcare Workforce Accelerator Cohort
Workforce retention, deployment, and training are the focuses of these 23 startups Healthcare IT News

Recent Funding

  • Wellvana brings home $84M to help providers transition to value-based care models 
  • Florence inks $20M for its provider-focused workflow automation suite
  • Labviva picks up $20M for its AI-enabled life sciences procurement marketplace
  • Rock Health portco Wellth secures $20M for its behavioral change platform
  • Employee health benefits optimizer Zorro launches with $11.5M