Since 2010, the Digital Health sector raised $44 billion in venture capital (VC) funding, according to Mercom database. The consumer-centric companies raised $26 billion, with the remaining $18 billion raised by practice-focused companies.
Among the consumer-centric categories: mHealth apps led the funding activity with $6 billion. Within the mHealth apps category, care and communication apps raised over $4.5 billion.
On-demand Telemedicine companies raised $5 billion, followed by healthcare price comparison, rating, scheduling, and booking companies, which received $3.8 billion. Wearable sensors and mobile wireless devices raised $3 billion and $2.7 billion, respectively. Wellness companies raised $1.9 billion, followed by Social Health Networking companies, and Patient Engagement companies with $1 billion each.
Consumer-centric companies from the United States have attracted the most VC funding since 2010, with over $17 billion, followed by China with over $3.5 billion. The rest of the funding was spread across the world in 63 countries, including the U.K., India, France, Israel, Canada, and Germany.
Over 4,000 investors have participated in Digital Health consumer-centric funding deals since 2010. Norwest Venture Partners, Khosla Ventures, GV (formerly Google Ventures), GE Ventures, Sequoia Capital, BlueCross BlueShield Venture Partners, and Merck Global Health Innovation Fund led the digital health consumer-centric investment activity since 2010.
Top 5 healthcare consumer-centric VC funding deals since 2010:
Babylon Health, a London-based telemedicine company that uses AI, closed a $550 million round of funding, valuing the company at over $2 billion. The company has raised a total of $650 million to date.
Guahao (WeDoctor), a Chinese online healthcare service booking platform, raised $394 million in a funding round, bringing its total raised to date to $1 billion.
American Well, provider of a web-based telehealth platform that allows patients to connect with healthcare providers through video, text, chat, and phone, raised $291 million in a funding round, bringing its total raised to $500 million.
Tencent-backed online health care platform Tencent Trusted Doctors raised $250 million, valuing the company at $1 billion.
Butterfly Network, a developer of tablet-connected full-body ultrasound device named Butterfly iQ, raised $250 million, bringing the company’s total funding to $350 million.