Clinical Decision Support software companies raised $1.2 billion in 43 venture funding rounds in 2020, compared to $748 million in 62 funding rounds in 2019, a 60% increase, according to the latest Mercom Digital Health Funding and M&A Report.
Goldman Sachs, Oak HC/FT, Khosla Ventures, .406 Ventures, Baillie Gifford, Franklin Templeton, InHealth Ventures, and T. Rowe Price Associates led the funding activity with two investments each. Hundred and fifty investors made at least one investment each in Clinical Decision Support software companies during 2020.
Top funded clinical decision support software companies in 2020
Tempus, an AI-powered precision medicine company, announced an additional $200 million in the G-2 financing round at a post-money valuation of $8.1 billion. Tempus has raised over $800 million to date, including a $100 million in Series G financing round at a post-money valuation of $5 billion.
SomaLogic, a precision digital health company providing proteomic discovery and applications enhancing clinical decision making, closed a $214 million in a Series A funding round led by Casdin Capital with participation from other investors.
Concerto HealthAI, a provider of enterprise artificial intelligence and real-world data solutions for precision oncology, raised $150 million in aggregate Series B financing. Declaration Partners led the financing round with participation from AllianceBernstein PCI, Maverick Ventures, and SymphonyAI Group.
Caption Health, an artificial intelligence (AI)-powered diagnostics and decision-making software, closed its Series B funding of $53 million. Data Collective (DCVC) led the financing round with participation from other investors.
Dascena, a developer of machine learning algorithms for complex diseases, raised $50 million in a Series B financing round. Frazier Healthcare Partners led the financing round with participation from Longitude Capital and existing investor Euclidean Capital.
Congenica, the genomics data analytics & clinical treatment decision platform, announced the completion of its Series C funding round, raising $50 million. The funding round was co-led by Tencent and Legal & General and included other new and existing investors.
Clinical decision support software companies have raised $5 billion since 2010, according to Mercom’s digital funding data.