Q1 2024 funding: $2.7B across 133 deals

That’s a wrap on Q1 2024, which saw $2.7B in digital health venture funding across 133 deals. For digital health players, it was a quarter of adjusting to new, greater expectations from investors, enterprise customers, and the public markets. Funding deal pace picked up—though check sizes were smaller than in previous years—and investors were on the lookout for friendly deal terms. AI-enabled digital health companies captured 40% of the quarter’s funding dollars, while crowded solution spaces pushed startups to continue proving out their clinical and economic value relative to competitors. Meanwhile, three digital health companies delisted from the NASDAQ or NYSE, recalibrating the sector’s publicly-traded cohort and changing expectations for companies eyeing a public exit. Read our Q1 recap to dive into the quarter’s funding and exit trends.

Headlines

Otsuka, Click Therapeutics Snag FDA Clearance For Depression Therapy App
First prescription digital therapeutic for adults with MDD, to be used alongside medication Fierce Biotech

Assisted Living Managers Say An Algorithm Prevented Hiring Enough Staff
AI recommendations for staffing cuts impacted quality of care The Washington Post

Patient Portal Message Responses Vary By Race, Ethnicity
Black and minority patients less likely to be answered by attending physicians Patient Engagement HIT

Recent Funding

• Biolinq adds $58M for its intradermal glucose monitoring wearable technology
• Praia Health, a consumer engagement platform for providers, banks $20M
• Manifold nabs $15M for its AI-driven clinical research platform
• Personalized benefits management solution Beanstalk Benefits collects $7.5M
• HealthArc, a virtual care enablement platform, raises $5M
• Connected epilepsy remote monitoring device Neurava picks up $2.3M