Kicking off the year MobiHealthNews recorded $1.4 billion in Q1 funding spread out over 49 companies. This number exceeded the amount of last year’s Q1 funding, which came in at $1.2 billion.
Earlier this week Rock Health released its funding report for the quarter racking $986 million of investments across 61 deals in the US. Meanwhile Startup Health reported $2.8 billion in funding last quarter. The difference in numbers is attributed to the definitions of what counts as a digital health company, and whether or not international companies were tracked.
See below for a list of the funding announcements reported by MobiHealthNews this quarter.
| Company | Round/Series | Amount (M) | Investors | What's it for | What they do |
|---|---|---|---|---|---|
| Clover Health | N/A | $500 | Greenoaks Capital | The new money will be used for growth, innovation and deepening ties with physicians. | Clover uses extensive data analytics to provide preventative care to patients, keep them out of the hospital, keep them adherent with treatments and more. Its business is specifically focused on the older Medicare Advantage market, and so far it's most active in New Jersey. |
| Doctolib | N/A | $170.30 | General Atlantic, Eurazeo, Bpifrance, Kernel, Accel and unnamed German healthcare entrepreneurs | The company plans to use the funds to accelerate growth in France and Germany as well as push into other international markets. Additionally, it will use funds for product development and to promote its telehealth offering, which just launched last month. | Doctolib offers its subscription-based SaaS platform to medical practices, allowing doctors to manage their appointment bookings and communicate with patients. |
| Hims | N/A | $100 | Undisclosed | Undisclosed | Hims is an online mail-order men's health company that uses remote consultation to prescribe cosmetic and sexual health products. |
| Calm | Seires B | $88 | TPG Growth, Creative Artists Agency and Insight Venture Partners and Sound Ventures | The company plans to use the money to build international growth. | The company created a guided meditation app. |
| Pear Therapeutics | Series C | $64 | Temasek, Novartis, 5AM Ventures, Arboretum Ventures, Jazz Venture Partners, The Bridge Builders Collaborative and EDBI | The new money is set to help the company globalize the commercialization of the reSET suite of productsówhich were first commercially launched in November. | The Boston-based company makes prescription software-based treatments |
| Teckro | Series C | $43 | Northpond Ventures, Section 32, Founders Fund, Sands Capital Ventures and Borealis Ventures | The company will continue development of its platform and international expansion. | Teckro's digital offering collects and conveniently presents clinical trial data within a single mobile platform. The machine learning-powered app keeps study teams and active trial participants connected and, as a result, allows stakeholders to conduct their trials more quickly and accurately. |
| TriNetX | Series D | $40 | Merck Global Health Innovation Fund, Mitsui & Co. and Itochu Technology Ventures, MPM Capital, F2 Ventures and Deerfield Management | The $40 million will support the TriNetX's expansion in Europe, Asia and South America. Additionally, the company is looking to continue developing the AI, machine learning and digital clinical trial components of its analytics platform. | TriNetX has built a data platform containing clinical and claims information generated from more than 300 million global patients. The company provides these real-world data to clinical researchers on demand alongside supporting analytics tools. |
| EarlySense | N/A | $39 | Hill-Rom and Wells Fargo & Company, BlueRed Capital, Israel Innovation Fund, Argos Capital and Hotung Capital | The company hinted that this new money will be used to expand AI analytics and grow sales both internationally and domestically. | EarlySense makes a contact free health monitoring system. |
| Unite Us | Series B | $35 | Oak HC/FT, Newcomers Town Hall Ventures, Define Ventures, Scout Ventures, Luminate and New York Ventures | The new funding will be used to fuel its continued growth and coordinated network curation. | Unite Us' digital platform not only handles external referrals between community services and providers, but also tracks each patients' outcomes and their journey through care. The company's goal is to develop a unified support network able to address social determinants of health in ways that health systems or social service workers working alone could not. |
| Innovaccer | Series B | $35 | Microsoft's venture fund M12, Westbridge Capital and Lightspeed | The new money will be put towards growing its AI capabilites and growing its team. | Innovaccer's product InData is a unified health data integration platform that offers providers a full view of a patient's data, both insidea nd outside of thir network. |
| Limelight Health | Series C | $33.50 | Principal Life, AXA Venture Partners, MassMutual Ventures, Aflac Ventures, Transamerica Ventures, Wells Fargo Strategic Capital, LaunchPad Digital Health and Wanxiang America Healthcare Investments. | Limelight will be using its new capital to support customer acquisition, staffing and global expansion. | Limelight's cloud-based software looks to streamline quoting and underwriting for medical and ancillary carriers handling employee benefit plans. |
| Aetion | Series B | $27 | Sanofi, UCB, McKesson Ventures, Horizon Health Services, NEA, Flare Capital and Lakestar | The new funds will be put toward improving the Aetion Evidence Platform. | The company aims to help payers and providers collaborate in real-time with pharma and device companies as they develop, test and launch new therapies |
| Aduro | N/A | $22 | Abry Patners | The new money will be used to help the company scale its product and grow globally. | Aduro is a wellness platform that teams up with employers and other organizations to motivate members to stay active and healthy |
| KenSci | Series B | $22 | Polaris Partners, Osage University Partners and Mindset VEntures | The West Coast startup said that the new money will be put towards accelerating the company's "roadmap" and to expanding globally. | KenSci uses machine learning and artificial intelligence to identify patterns and health risks. It is able to ingest data from multiple sources including EHRs, claims statements, pharmacy history and wearable data. The company said the goal is to improve care and lower its cost. |
| Peerfit | Series C | $18 | Virgo Investment Group | Peerfit will be using its new funds to expand its brand and lock down more employer customers. The company will also be continuing its pursuit of the Medicare Advantage market with Peerfit Move. | Peerfit's standard employer-provided benefits platform offers both bulk and per-use token purchases, each of which is supported by an online dashboard to streamline class browsing and reservations, or send department-wide class invites to better engage employees. |
| Healthy.io | Series B | $18 | Aleph, Samsung Next and private investors | The new money will be used to help scale operations in the US and continue roll out of services in the UK. | The company's signature product is Dip.io, a home-based urinalysis kit that turns a smartphone into a clinical-grade diagnostic device. |
| Ciitizen | Series A | $17 | Andreessen Horowitz, Verily and Section 32 | It will be using the new funding to continue building its platform and buff its commercial efforts. | The company aims to solve the many problems of healthcare data sharing and lack of interoperability by creating a patient-centered medical record. |
| Lively | N/A | $16 | Declaration Capital and Tiger Management | Lively specializes in connected hearing aids. | |
| Medigate | Series A | $15 | US Venture Partners YL Ventures and Blumberg Capital | Medigate said that it is planning to fuel the growth of its business, specifically through the pursuit of new hires. | Medigate builds a platform dedicated to securing networked medical devices that are connected to EHRs, device servers and other enterprise systems. |
| HealthJoy | Series B | $12.50 | US Venture Partners, Epic Ventures, Chicago Ventures, Sidekick Ventures and HealthJoy's cofounders | The company will be looking to expand its team, both in the main Chicago office as well as abroad. | HealthJoy expanded its business from the individual health insurance market to employee engagement and cost containment in 2016. Key to the company's approach is Joy, a virtual assistant that helps users understand their benefits packages and navigate their care options through an AI-guided conversation. |
| Xealth | Series A | $11 | McKesson Ventures, Novartis, Philips and ResMed, Threshold Ventures, Providence Ventures, UPMC and Medical College of Wisconsin Health Network affiliate Froedtert | Xealth will primarily be using its latest investment to continue building out the platform. | Xealth's digital health prescription platform allows physicians to prescribe a wide variety of apps or other digital health tools to their patients, as well as monitor patients' engagement or progress. Patients and clinicians alike are able to access these tools within their respective patient portals and EHR workflows. |
| SonarMD | Series A | $10 | BCBS Venture Partners and Arboretum Ventures | The company plans to use the funding to scale the business. In particular, they intend to hire additional team members. | The company provides a care management service for chronic conditions. |
| Kaia Health | Series A | $10 | Balderton Capital | The new money will be used to help the German company expand further into the US. | Kaia employs AI and machine learning to create home-based, clinically-validated exercise plans for users. |
| Eden | Series A | $10 | Greycroft, PJC, 645 Ventures, Max Ventures, Convene, Aspect Ventures and Brand Foundry | The most recent raise will let the company expand virtual care to all 50 states. | Eden focuses on providing primary care and insurance navigation directly to employers. The company uses a three-pronged approach: Users can access a doctor through a virtual care model, they can use the platform to navigate their insurance benefits, and access Eden's in-person component in select locations. |
| Vicarious Surgical | N/A | $10 | Gates Frontier, Khosla Ventures, Innovation Endeavors, AME Cloud Ventures and Marc Benioff | The money will go towards the next phase of growth and developing the commercial product. | The company said that by using its VR and surgical robotic technology, surgeons are able to perform a minimally invasive surgery via a micro-incision. |
| Tyto Care | Series C | $9 | Sanford Health, Itochu and Shenzhen Capital Group | The new funding will allow Tyto Care to continue pursuing plans for growing its telehealth business, which include expansion into Asian and European markets. | Tyto Care offers a remote consultation service, which it supports with a number of devices that are designed to better enable these virtual visits. |
| Covera Health | Series A | $8.50 | Equity Group Investments and other undisclosed investors | Covera intends to invest in growth, research and development. The company plans to grow its current team and to improve the state of the science to help serve existing customers better and bring additional customers onboard. | Covera Health uses data analytics to help its payer and employer customers choose the best providers and procedures for their members. But unlike many companies in that space, they also work with providers to help them improve their quality. |
| Physera | Series A | $8 | BlueCross BlueShield Venture Partners | Physera did not provide any clear indications of its future direction outside of general scaling and ongoing updates to the program. | Physera's free Android and iOS app offers users a range of exercises designed to reduce MSK pains, each of which is demonstrated with in-app animations, voice prompts and other guidance. |
| Rightway Healthcare | Series A | $8 | Undisclosed | This new funding will fuel sales team growth, product expansion and entry into new markets. | Rightway Health develops a smartphone and web service that helps employees understand and utilize the health benefits available to them. It combines guided navigation and cost transparency tools with live support from staffed navigators. |
| Cynerio | N/A | $7 | Accelmed, RDC, MTIP and other unnamed global venture capitalists. | The latest investment would help the security company expand its operations to healthcare providers in North America. | The Ramat Gan, Israel-based company develops a cybersecurity platform designed specifically for healthcare providers. |
| First Stop Health | N/A | $6.50 | Morningstar founder and CEO Joe Mansueto as well as Rich Gallun, cofounder and CEO of bswift | The company said it will use the latest funding to grow the services. | First Stop Health is a virtual care provider that targets the employer marketplace, and aims to help employers save money. |
| Tasso | Series A | $6.10 | Vertical Venture Partners, TechStars and Cedars Sinai | The funding will be used to scale Tasso OnDemand in preparation for its Q2 2019 launch. The startup reports significant commercial interest, and intends to use some of the funding to hire additional employees. | Tasso's first product, Tasso OnDemand, is a blood collection device that can be mailed to the patient, used at home, and transmit the data directly to a lab for processing. Rather than using a needle, the patient collects the blood through a patch worn on their forearm, which can be configured to collect whole blood, plasma, or dried blood spots. |
| BabyScripts | Strategic funding | $6 | Royal Philips,StartUp Health and NueCura Partners | The money will allow Babyscripts to begin its push toward the western side of the country. | Babyscripts' platform offers providers a digital patient management dashboard with data collected through connected devices such as scales, blood pressure cuffs, and a patient mobile app. |
| Emedgene | N/A | $6 | OliveTreeVentures | The new financial support will be used to expand its sales operations within the US. | Trained using data from patient cases, publications and genomics databases, Emedgene's decision support engine can identify and highlight clinically relevant genetic variants for the provider. |
| B-Secur | Series A | $5.30 | Accelerated Digital Ventures and Kernel Capital | The latest funding round will go toward creating new partnerships, similar to existing deals with Cypress Semiconductor and NXP Semiconductors. Additionally, the company plans to add at least 10 new employees to its 35-person team and to open up an American office in San Francisco. | B-Secur is looking to use ECG monitoring in a dual role: both for health and wellness purposes and for biometric identification. The potential use cases include helping employers monitor their users' health while also securing protected areas, or creating security systems for vehicles that would also detect, via the steering wheel, when drivers are stressed out or in need to rest. |
| Biolinq | Series A | $4.75 | JDRF T1D Fund | The company said that the new money will be put towards growing its technology platform and funding additional clinical studies. | Biolinq makes a minimally-invasive device that lets people continuously monitor their blood glucose. It pitches its technology as an alternative to finger pricks. |
| Unmind | N/A | $3.80 | Felix Capital and private investors | The latest funding round will be put towards improving the mobile platform and increasing its library of contents. | The London-based startup focuses on promoting mental health in the workplace. Specifically, the company works with employers to provide digital tools to their workforce. The company stresses that it has worked with academics and psychologists to develop the training tools and assessments. |
| Embleema | Series A | $3.70 | Pharmagest and Techstars | The company will accelerate the joint development of blockchain-based applications for patients and pharmacies. It will also help the company kick off its commercial deployment. | The company uses blockchain technology, which makes information easy to verify and difficult to falsify, to build a personal health record system for patients. The startup was designed to help patients share their blockchain health records and data with stakeholders, such as clinical researchers, in exchange for cryptocurrency. |
| Narrative Dx | Strategic funding | $3 | Christiana Care Health System, Summation Health Ventures, The Texas Medical Center, HealthX Ventures and Cultivation Capital. | The company plans to use the funds "to accelerate sales and marketing, product innovation, talent acquisition and continued growth." | arrativeDx uses AI and natural language processing to analyze patient feedback and return suggestions on how a healthcare organization can improve its patient experience. After participating in several accelerators, the company has found its way into a more than 100 hospitals. |
| OvuSense | Series A | $2.70 | Foresight Group and Coutts Investment Club | Fertility Focus said that the funding will be put toward commercialization of the OvuSense platform in North America and European markets, and the funding of new clinical trials of the technology. | OvuSense is comprised of a vaginal core temperature sensor and an accompanying user app. |
| Olio | Seed funding | $2.50 | Innovatemap Ventures and other unnamed backers | The company said that the new money will be put towards scaling the technology and expanding across the US. The seed funding will also be used to growing its engineering, marketing and customer success teams. | The care coordination platform lets the care team at a hospital including doctors and administrators get information about their patients once they have moved into the post-acute setting. The platform helps clinicians to set speciality-specific care goals and funnels data back and forth. |
| 1upHealth | Seed funding | $2.38 | Eniac Ventures, Social Leverage and Meridian Street Capital | The new money will be put towards scaling the operation and furthering its work on EHR connectivity. | The Boston-based startup lets patients, providers and developers aggregate and share health data ó including information from EHRs ó through an API. The platform is able to convert esoteric EHRs into the FHIR standards. |
| Sentinel Healthcare | N/A | $2 | PSL Ventures | Sentinel said it will be putting the new funds toward continued development of its commercial platform. | Sentinel provides a wearable blood pressure cuffs and patient smartphone app that transmit data to the company's wider service. |
| Vixiar | Series A | $1.50 | Emerald Development Managers, MMG Opportunities, The Maryland Technology Development Corporation (TEDCO), unnamed individuals | The company will use the funding to complete an ongoing clinical trial of Indicor and to prepare a regulatory submission. | Vixiar's first product, Indicor, is a hardware and software system for measuring left ventricular end-diastolic volume, which can be used to calculate stroke volume, an important biometric for monitoring some heart conditions. It consists of a tablet, a pulse oximeter and a handheld device with a disposable mouthpiece. |
| Pr3vent | Series A | $1.50 | InFocus Capital Partners | Cofounder Darious Moshfeghi said in a statement that the new backing will allow his company to "accelerate the process of developing our revoluationary imaging system for early detection of preventable vision loss in newborns." | Pr3vent is building artificial intelligence and machine learning-based screening tools specifically tuned to detect ophthalmic conditions in newborns. The screens are not invasive, and seek to identify and address abnormalities early in a child's development so that future blindness can be prevented. |
| OncoLens | Seed funding | $1.35 | BIP Capital and Atlanta Technology Angels (ATA) | The new money is expected to help the company fulfill its strategic growth plans. | The Atlanta-based company focuses on giving cancer care teams a way to collaborate on patients' treatment plans. The software-as-a-service tool, which includes a mobile application, is cloud based and HIPPA compliant. |
| OOVA | Seed funding | $1 | Special Situations Life Sciences Innovation Fund, Company Ventures and angel investors | The funding will help the company make its final push into the market. | The company's first product, which is currently in pre-orders, is a mail-order test kit for fertility monitoring that contains 20 disposable urine tests. The tests can be scanned with a smartphone to get results directly on the user's phone. |
| Forefront Telecare | Series A | undisclosed | Spring Lake Equity Parnters, Ziegler Link Age Fund | Forefront will put the new money toward growing its network of telepsychiatry providers and developing HIPAA-compliant telehealth platforms. | Forefront Telecare specializes in providing virtual behavioral telehealth to seniors. |
| Workit Health | Series A | undisclosed | BlueCross BlueShield Venture Partners | As a result of the funding, Workit Health will be teaming up with Blue Cross Blue Shield Ventures. | Workit Health provides online addiction treatment to patients recovering from opioid use. |
