Halfway through the year, there have already been some major funding stories for mobile health companies. From wearable device companies to a mobile clinical software developer, these funding stories have mentioned trends, goals and important VCs in the field. While MobiHealthNews' state of the industry Q1 2013 and Q2 2013 reports delve deeper into the funding stories this past year, we rounded up the top 10 funding stories this year from most funding to least.
Proteus Digital Health raises $62.5 million: Redwood City, California-based Proteus Digital Health announced in May that it had raised $62.5 million in its latest round of funding led by Oracle with participation from existing investors Otsuka, Novartis, Sino Portfolio and others. MobiHealthNews reported on the first $17.5 million that Proteus raised for this round a year ago, so the $62.5 million includes an additional $45 million raised over the course of the past year. In total, Proteus, which was founded in 2001, raised north of $170 million from a long list of investors that includes Medtronic, Itochu, St. Jude Medical, and Kaiser Permanente Ventures. Read More
NantHealth raises $31 million: Nant Health, the healthcare company that is a part of Dr. Patrick Soon-Shiong's tight-lipped NantWorks portfolio of companies, raised $31 million in two rounds of funding in January. Another NantWorks company, NantiD, which appears to be the next generation of the iVisit LookTel technology that Nant acquired a few years ago, raised an additional $15 million in funding. Last year, Dr Soon-Shiong acquired GlowCaps-maker Vitality. Read More
Withings raises $30 million: Withings, the Paris-based maker of connected health devices, raised $30 million in venture funding this July, only the second funding round for the 4-year-old company. The round was led by a $15 million contribution from Bpifrance with additional contributions by Idinvest Partners and 360 Capital Partners, and previous investor Ventech. Withings raised $3.8 million (3 million euros) from Ventech back in 2010, so this raise brings the company's total funding to $33.8 million. The timing of this funding raise is interesting, since the launch Withings' Pulse activity tracker into an already competitive market, which was recently shaken up by Jawbone’s acquisition of BodyMedia. It’s a rapidly growing field that could be radically altered by an entrance from an Apple smartwatch or a fitness play from Google. A significant injection of funding like this could suggest that Withings is committed to being a contender. Read More
HealthTap raises $24 million: San Francisco-based HealthTap announced in May that it raised $24 million in its second round of funding. Khosla Ventures led the investment with return backers Mayfield Fund and Mohr Davidow Ventures contributing, too. As part of the deal, Khosla Ventures' Keith Rabois and former Square COO will join HealthTap’s board of directors. Vinod Khosla will join as an advisor, too. HealthTap’s core offering is a question and answer platform that helps users find health information written by physicians — both online and through the mobile apps. It has also added physician ratings and a data insights feature that helps users better understand doctors’ referral patterns to find doctors that their doctors trust. HealthTap planned to use the funds to build out its web and mobile offerings and build out its team.
Vitals.com raises $22 million: In the face of a surge of interest in physician ratings and curation from high-profile health startups like HealthTap and Doximity, long-time physician rating platform Vitals.com raised $22 million in third round funding in June to improve its consumer offerings. The round was led by new investor Piper Jaffray Merchant Banking. Existing investors Cardinal Partners, Health Enterprise Partners, Milestone Ventures Partners and Greycroft also contributed. Read More
PatientSafe raises $20 million: Just weeks after disclosing it had raised $13.3 million in venture capital, mobile clinical software developer PatientSafe Solutions upped the total to $20 million in January to close its Series C financing round. The Merck Global Health Innovation Fund, a unit of pharmaceutical giant Merck & Co., led the round, which also included Camden Partners, TPG Capital and Psilos Group. As a result of the investment, San Diego-based PatientSafe added Max Kahn, a Merck GHI principal, to its board. PatientSafe, formerly known as IntelliDot, is not detailing how much each investor kicked in, but says it will use the money to ramp up marketing of its PatientTouch platform, a point-of-care suite that runs on iPod Touch enclosed in a waterproof case. Read More
Welltok raises $18.7 million: Denver-based Welltok, makers of the CafeWell social health management platform, announced an $18.7 million raise in April. Although the company didn’t announce employer or health plan partners, their platform is clearly targeted at what they call population managers — reps for employers, providers, and especially health plans — as well as at consumers. The company had only disclosed one customer at the time, Coventry HealthAmerica, but it reported that it has two of the nation’s largest health plans among its customers. Emergence Capital Partners, InterWest Partners and New Enterprise Associates (NEA) contributed to the round. Read More
Medivo raises $15 million: New York City-based Medivo, a StartUp Health company that offers a physician and consumer-facing health monitoring platform, raised $15 million in its second round funding in June, bringing the company's total funding to $22 million. The round was led by a new investor, the Merck Global Health Innovation Fund (GHI). Previous investors Safeguard Scientifics and MentorTech Ventures also contributed to the round. Medivo’s business model revolves around giving patients easier access to their lab results and giving physicians access to an aggregated dashboard of patient labs and other data, as well as giving patients tools to monitor chronic conditions. Medivo CEO and co-founder Sundeep Bahn told MobiHealthNews that the company has seen rampant growth over the last few years, doubling its growth each year. Read More
Sotera Wireless raises $14.8 million: Sotera Wireless, maker of the wrist-worn ViSi Mobile wireless vitals monitoring system, landed $14.8 million in fresh capital in February, including $1.33 million from Safeguard Scientifics and an undisclosed amount from another new investor, Delphi Ventures. Other participants in this round include previous shareholders Sanderling Ventures, Qualcomm Ventures, EDBI, Intel Capital, Cerner Capital and the West Health Investment Fund, according to Wayne, Pennsylvania-based Safeguard. With its investment, Safeguard gained a seat on Sotera’s board of directors and now holds a 7.7 percent stake in Sotera. Safeguard also has an agreement to increase its share to 20 percent under certain, unspecified scenarios. Read More
Treato raises $14.5 million: Treato, an Israeli company that scours thousands of social media sites to glean patient insights about pharmaceuticals and treatments, landed $14.5 million in new capital in April. OrbiMed Israel Partners and New Leaf Venture Partners led the round of funding, which also included previous investors Reed Elsevier Ventures and Western Technology Investments, the company said. Treato, of Yehud, Israel, will use the money to set up a US office in New York and to expand its product offering, according to CEO Ido Hadari. Read More