For the third quarter of 2016, MobiHealthNews tracked just shy of $600 million in deals. While a few large deals anchored the quarter, the majority of the 45 we tracked this quarter were small; only seven were more than $20 million, most were $10 million or less. For this analysis, we’ve omitted investments in joint ventures like Verily and Sanofi’s OnDuo as well as grant funding. Read on for the 45 deals in the digital health space we tracked throughout the quarter, listed in order from largest to smallest amount of funding.
Canada-based wearable technology company Thalmic Labs, which makes the connected armband Myo, raised $120 million in Series B funding in a round led by Intel Capital, the Amazon Alexa Fund and Fidelity Investments Canada. The funding will support the company’s expansion of its product line, as well as hiring staff for the company’s new San Francisco office. More.
On-demand digital health concierge Accolade Health, which provides its services for employers, health plans and health systems, raised more than $70 million in new Series E funding in a round led by Andreesen Horowitz with participation from other investors including Madrona Venture Group. Accolade will use the capital to expand its technology platform, R&D and sales and marketing initiatives. More.
Home care backend software maker ClearCare has raised $60 million in a round led by global investment firm Battery Ventures. The company will use the investment to pursue new strategic platforms, the company said in a statement. More.
Hayward, California-based Chrono Therapeutics, which is developing a sensor-enabled nicotine patch with a connected app, raised $47.6 million in Series B financing. The round was led by Kaiser Permanente Ventures and will go towards further development of the company’s digital drug therapy platform. More.
Chicago-based Endotronix, which makes devices to manage heart failure and remotely monitor cardiac patients, raised $32 million in new funding. Investors included BioVentures, SV Life Sciences, Lumira Capital, Aperture Venture Partners and OSF Ventures. Existing investors as well as an unnamed corporate investor also participated. More.
Manchester, New Hampshire-based virtual pharmacy PillPack raised an additional $31.1 million. According to reports, Astral Capital – a new Boston-based venture firm led by former Accomplice partner Jon Karle – is a new investor and Accomplice, Accel Partners, Charles River Ventures, and Sherpa Capital are returning investors. More.
Norwalk, Connecticut-based Zillion, which makes an cloud-based patient engagement platform, has raised $28 million in Series C fundraising in a round led by TwinFocus Capital Partners. The funding will be used expand Zillion’s customer base, increase sales and focus on marketing efforts. More.
Boston-based Docent Health raised $15 million in a new round of funding. The round was co-led by Bessemer Venture Partners, New Enterprise Associates (NEA), and Maverick Ventures. All three investors previously participated in the company's $2 million seed round in January. The startup, which grew out of healthcare investment firm Oxeon Holdings, combines mobile software tools and trained human interlocutors to improve the consumer experience for its hospital partners. More.
San Diego, California-based Curology, which offers prescription skincare products based on smartphone photos and an online questionnaire, patient-provided information, raised $15 million in Series B funding. The round was led by Advance Vixeid Partners, with participation from prior investors Sherpa Capital and Forerunner Ventures. The funding will be used to expand Curology’s offering: an end-to-end online solution wherein users remotely share photos of their skin with a licensed medical professional employed by Curology. More.
Caremerge, the Chicago-based company offering care coordination software for assisted living facilities, has raised $14 million in funding. Insight Venture Partners led this funding round, which will enable Caremerge to expand in the post-acute care market. Additional funders were previous investors Grazyny Kulczyk, Cambia Health Solutions, Ziegler LinkAge Longevity Fund, GE Ventures and Arsenal Venture Partners. More.
Sleep apnea device developer NightBalance raised $13.9 million (EU €12.5 million) in second round funding led by INKEF Capital and Gilde Healthcare Partners. The Dutch company will use the funds to further advance the rollout of its Sleep Position Trainer (SPT) device and enter the US market. More.
Digital medicine company Akili Interactive Labs announced an $11.9 million expansion of its recent Series B funding, adding new investors into the round and bringing the series total to $42.4 million. The Dutch subsidiary of Merck Ventures, known as M Ventures in the US and Canada, and the venture arm of Amgen joined existing investors, which include Pfizer and Shire Pharmaceuticals. This means Akili now has relationships with four major biopharma companies or their investment affiliates. More.
Big Health, the UK digital health startup behind sleep health app Sleepio, raised $12 million (9.5 million pounds) in a round led by Octopus Ventures. Kaiser Permanente Ventures also contributed to the round, as did Omada Health CEO Sean Duffy, returning investor Index Ventures, and JamJar Investments. The startup's app is not direct-to-consumer; Big Health sells its sleep health program and app to employers. More.
Reston, Virginia-based Avizia raised $11 million in Series A funding, bringing the telemedicine company’s total funding to $19.5 million. The funding round, led by Blue Heron Capital, also included Lavrock Ventures, NextGen Venture Partners, Middleland Capital, Waterline Capital and Blu Ventures. More.
Atlanta, Georgia-based Azalea Health, a health IT software firm with a focus on rural practices and mobile tools, raised $10.5 million in Series B funding in a round led by Kayne Anderson Capital Advisors. Previous investor Intersouth Partners also participated in the round, which brings the company's total funding to $12.5 million. More.
Stockholm-based digital health company Lifesum secured $10 million in a funding round led by venture capital firm Nokia Growth Partners. Draper Esprit, Bauer Media Group and SparkLabs Global Ventures also participated in the round, which will enable the Swedish health app maker to expand its growth in Europe and the US. More.
Montreal-based OMsignal, which makes smart clothing, closed on a $10 million ($13 million CAD) funding round, led by Relay Ventures, with additional funding from existing and new investors including MAS Holdings, Bessemer Venture Partners and Techstars Ventures. The funding will be used to build a distribution network for OMbra, its newest product, and further the company’s work in smart textiles (the company is also working on a smart shirt for running that is yet to be released). More.
At the same time as diabetes management companies Glooko and Diasend announced their merger, the newly merged company raised $8 million in equity financing, led by global venture capital firm Canaan Partners, to accelerate integration and sales efforts. Social Capital, Samsung Ventures and Yogen Dalal (Glooko’s founder and partner emeritus at venture capital firm Mayfield fund) also contributed financing. More
Swedish digital health startup Kry, which connects patients with healthcare professionals via video, raised $6.8 million (€6.1m) in seed funding led by London and San Francisco-based Index Ventures and Stockholm-based Creandum. Berlin-based VC Project A also contributed. More.
Marc Benioff-backed Gobiquity, which makes a vision screening app for children called GoCheck Kids, raised $6 million in a round led by existing investor Interwest Partners. The company, formerly known as iCheck Health, previously raised an undisclosed strategic investment from Benioff and a $750,000 seed round from Interwest. More.
Adherium, a Melbourne, Australia-based connected inhaler company, raised $5.9 million ($8 million Australian) through a private placement of shares with Fidelity. Adherium is publicly traded in Australia. Under the deal, Fidelity will purchase 16 million shares at $0.50 Australian per share, bringing the global asset manager's share in the company to 10 percent. More.
Israel-based Check-Cap, a clinical stage medical diagnostics company that is working on an ingestible sensor capsule to screen for colorectal cancer, entered into an agreement with a single healthcare company for $5.9 million in financing. Check-Cap, which does not have a commercial product as of yet, will use the net proceeds from the offering to advance the ongoing clinical development of its preparation-free colorectal cancer screening system. More.
MDSave, a Nashville, Tennessee-based healthcare transparency company, secured a $5 million investment from Cambia Health, a holding company that owns a number of large insurance plans. More.
New York-based Happify, which makes a mental health assessment platform available via an app or website, raised $5 million in a new round of funding that will allow the startup to expand its staff and focus on creating partnerships with health plans and large employers through a new arm of the company, Happify Health. More.
New York City-based Nomad Health, a startup that is building an online marketplace connecting doctors with freelance clinical work, raised $4 million in Series A financing. First Round Capital and RRE Ventures led the funding round, with participation from .406 Ventures. The funding will Nomad continue its nationwide rollout of its system that seeks to replace temporary work brokers in the healthcare industry. More.
San Francisco-based Bloomlife raised $4 million for its smartphone-connected pregnancy-tracking wearable, bringing the startup’s total funding to $6 million. The round was led by Marc Benioff and Efficient Capacity, with additional contributions from LanzaTech Ventures, The Chernin Group, Kapor Capital, and Act One Ventures. More.
UK company roadtohealth, which makes the health improvement app Quealth, raised more than $4 million in funding from global insurance company Reinsurance Group of America. RGA has taken a minority stake in roadtohealth, and the partnership will enable multi-platform distribution for Quealth. The $4 million is an initial investment from RGA, and further investments will follow dependent on roadtohealth’s performance, according to a company statement. More.
Israel-based DreaMed Diabetes raised $3.3 million from Norma Investments, Russian businessman Roman Abramovich and one other unnamed angel. The funds will mainly be used for further development of DreaMed’s Advisor, the company's decision support software that can be licensed and embedded into partners' diabetes management platforms. More.
Beyond Verbal, another Israeli company, which analyzes speech to determine human emotion and wellbeing, raised $3.3 million in a round led by Hong Kong investment holding company KuangChi Science, with participation from Winnovation and Singulariteam. This brings its total Series A round at over $7 million, the Wall Street Journal reported. More.
Health2Sync, a Taiwanese diabetes management startup, raised $3 million in a round led by WI Harper Group; with participation from Cherubic Ventures, iSeed Ventures, and SparkLabs Global Ventures. The investors are mostly firms with a presence in both Silicon Valley and in Asia. Funds will be used to expand the program outside of Taiwan and into surrounding markets, especially Japan. More.
Healthcare messaging company Klara, which bills itself as a “professional WhatsApp” for medicine, raised $3 million in funding in a round led by Lerer Hippeau and Project A Ventures. Existing investors, including German VC Atlantic Labs, also participated. The new funding will be expand Klara’s messaging platform, which will connect medical teams and patients to centralize all patient-related communication. More.
Australian digital health company DoseMe, which makes a precision dosing tool platform for clinicians, raised $2.6 million in Series A funding. Investors were Greg Spurgin and Gary Cunningham, who founded US orthopedic physical therapy company Results Physiotherapy. Spurgin will join the DoseMe board, along with seed investor Steve Baxter, DoseMe CEO Charles Cornish, and company founder Dr. Robert McLeay. More.
New York City-based Force Therapeutics raised $2.6 million, according to an SEC filing. This brings the company's total funding to date to about $4.8 million. The company's original investors include former OpenTable CEO Thomas Layton; former CEO of Revolution Health and TicketMaster, John Pleasants; and FiveW Capital Managing Member Randall Winn. Force Therapeutics has developed a mobile and web-based program that can be prescribed to patients who are taking part in musculoskeletal injury rehabilitation by their surgeon, physician, or therapist. More.
New York-based startup Koko, which uses artificial intelligence for crowd-sourced cognitive therapy, raised $2.5M in Series A funding, with Omidyar Network and Union Square Ventures leading the round. The company also announced the launch of KokoBot, its new chatbox experience that will be available on chat networks Facebook Messenger, Telegram and Kik. More.
Garwood Medical, which has filed a patent application for a wound healing system, raised $2 million in Series A funding, according to an SEC filing. The investors were undisclosed. Garwood’s patent application describes a method for sending the pulsed electric currents to the bandage via an RF transceiver, which can be provided with a mobile device and allow for remote, wireless monitoring of the wound. More.
New Haven, Connecticut-based 3Derm, a teledermatology startup that allows patients and non-dermatologists to capture clinical-quality 3D images of skin, raised $1.66 million. The investors weren’t disclosed. More.
San Francisco-based iBeat, makers of a heart-monitoring wearable positioned to compete with PERS devices, closed approximately $1.5 million in a seed funding round led by Maveron, Subtraction Capital and Correlation Ventures. Other investors include Ali and Hardi Partovi, former NFL player Russell Okung, KKR partner Henry Kravis, Band of Angels and industrial design firm Ammunition Group. More.
Minneapolis-based Sansoro Health, a health IT firm focused on interoperability that offers, among other things, software to integrate digital health tools with electronic health records, raised $1.2 million in a round led by Healthy Ventures. The raise included backing from Treehouse Ventures and undisclosed angels. Healthy Ventures is an investor that works exclusively with health tech companies including HealthCrowd and PokitDok. More.
Norwalk, Connecticut-based QueueDr, which uses text messages to help doctors fill last minute cancellations, raised $1.2 million from Rolling Hill Ventures. The funding, which is the first post-seed round for the three-year-old company, will be used to accelerate the company’s growth, according to CEO Patrick Randolph. Previous investors include Launchpad Digital Health and 500 Startups. More.
Oakland, California-based Workit Health, which offers a digital counseling program for substance abuse, raised $1.1M in seed funding in a round led by Montage Ventures and Lux Capital. The company will use the funds to expand its current offerings, hiring addiction counselors, software engineers and sales representatives so it can establish partnerships and prepare for a direct to consumer launch later this year. More.
Akron, Ohio-based Intellirod Spine, a sensor-enabled spine implant company, raised more than $1 million in a round led by new and existing investors, including Queen City Angel First Fund V and JumpStart. Previous investors include the Kentucky Seed Capital Fund and the City of Akron, Ohio. More.
Nashville, Tennessee-based Medaxion, makers of a mobile-based EHR offering for anesthesiologists, raised $950,000. Investors were not disclosed. That brings the company’s total known funding to at least $7M to date. More.
Medical device software security company MedCrypt, which is building, “security as a service” for connected device companies, raised $750,000 in seed financing in a round led by Safeguard Science and angel investors. The company will use the funds to conduct commercial pilots with medical device vendors. More.
New York City-based RubiconMD, which makes a digital consultation platform for physicians and specialists, announced a $750,000 investment from the California Health Care Foundation Innovation Fund, which supports emerging technologies in healthcare. More.
MedMinder, a Needham, Massachusetts-based company that makes cellular-connected smart pill cases, raised $500,000 from an undisclosed investor. A longtime player in the connected pillbox space, MedMinder has only raised about $2.3 million in funding to date, all of it from undisclosed private investors. The new funding will be used to support the company's recent expansion into the mail-order pharmacy space, founder and CEO Eran Shavelsky told MobiHealthNews. More.
