INSIGHTS
October 6, 2025

Q3 digital health funding: $3.5B across 107 deals

At first glance, 2025’s numbers paint the picture of a strong and steady year for digital health venture funding: $9.9B raised through Q3, with deal sizes climbing and investor interest holding steady. But looking deeper tells a more nuanced story. Unlabeled rounds, once seen as a temporary workaround amidst market volatility, have proven more lasting than expected, making up 35% of all digital health deals so far this year. Meanwhile, Series B activity has thinned, while startups take almost a full year longer to achieve that funding milestone compared to prior years, making the usual progression through funding stages harder to read.

Despite this market murkiness, workflow and infrastructure are markedly having a moment. Clinical and non-clinical workflow startups have captured 42% of 2025 funding to date, well ahead of any other value proposition category. Companies are expanding across adjacent workflows through product launches, partnerships, and M&A, while incumbents race to fold similar capabilities into their platforms. Dig into the full Q3 piece for the shifts and signals defining digital health’s evolving landscape in 2025.

Thank you to everyone who joined us at Rock Health Summit 2025! We discussed AI’s role in healthcare and the IPO journeys of Omada and Hinge; explored bold moves in women’s health and the partnerships building better care together; then went deep on the future of primary care and the market forces shaping capital and consolidation trends—your energy and insights made the day. We’re so grateful to our speakers, sponsors, and community for driving such meaningful conversations, and can’t wait to see you next year!

Headlines

 Inside TrumpRx And Its Unusual Launch
New platform will direct patients to manufacturer DTC purchase channels, with Pfizer as first partner Axios

Telehealth Flexibilities Expire Amid Government Shutdown
Patients are likely to face virtual care disruptions as providers scramble for reimbursement Healthcare Dive

Use Of Ambient AI Scribes To Reduce Administrative Burden And Burnout
New research shows improvement on care delivery experience for providers JAMA Network Open

Ambience Launches AI-Powered ICD-10 Coding Assistant For Inpatient Care
Another ambient documentation solution expansion into (inpatient) coding use cases Fierce Healthcare

Omada Launches AI-Powered Meal Map To Transform Cardiometabolic Nutrition
Rock Health port co’s new tool breaks down nutrient quality of food choices HIT Consultant

 Serena Williams Ad Sparks Demand For Ro's Weight-Loss Program
While drug advertising pressures mount, celebrity campaigns lead to sharp spikes in customers Bloomberg
 

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