The digital health funding amount was distributed across 27 countries during 1H 2020, according to Mercom 1H 2020 Digital Health Funding Report.
A total of two hundred seventy-three companies raised $6.3 billion during 1H. Almost 80% ($5 billion) of the funding went into digital health companies based in the United States. China, Sweden, Canada, Israel, the U.K, and India, each raised $100 million or more during 1H.
During 1H, the U.S. funding activity was led by Optum Ventures, Oak HC/FT, UnityPoint Health Ventures, Andreessen Horowitz, Venrock, and GV (formerly Google Ventures).
California secured 44% of the total funding with $2.2 billion, followed by New York with $1.1 billion and accounted for 22%.
The 1H funding levels were also all-time high (in the U.S.) since 2010 – driven by massive funding rounds of $100 million and more by telehealth companies.
The funding increase in the first half of 2020 shows a clear correlation to the COVID-19 pandemic. Telehealth, mHealth apps and data analytics companies have benefitted as solutions in response to the pandemic.
The biggest telehealth deals in the U.S. during 1H 2020 were:
Amwell (formerly American Well), a telehealth company, closed a $194 Series C funding round, bringing its total raised to date to over $800 million. Mindstrong, a digital mental health consultation platform, secured $100 million in Series C funding round, bringing its total raised to over $150 million since its inception in 2014.
Since 2010, digital health companies worldwide have raised $50 billion, including $38 billion from the U.S.