Digital health data analytics companies raised $573 million in Q1 2020, according to Mercom Q1 2020 Digital Health Funding Report. Quarter-over-quarter funding was up by 72% in Q1, compared to the $334 million raised in Q4 2019. Of the $573 million, AI-enabled healthcare data analytics companies received $128 million.
A total of 58 investors participated in the data analytics financing activity during Q1. Healthworx and Andreessen Horowitz led the financing activity with multiple rounds.
The top five funding deals accounted for 65% of the total $573 million in Q1. The remaining amount was distributed between 15 analytics companies.
Top funded analytics companies in Q1 2020:
California-based real-world clinical data analytics company Verana Health (formerly DigiSight) announced the closing of a $100 million investment round. GV (formerly Google Ventures) led the financing round with participation from new investors. Since 2010, GV has invested $560 million in 13 healthcare data analytics companies.
Genetic analysis application developer Element Biosciences raised $80.3 million in Series B funding. New investors Fidelity Management & Research Company and JS Capital participated in the round, along with existing investors Foresite Capital and Venrock.
Innovaccer, a unified healthcare data activation platform, raised$70 million in Series C funding from Steadview Capital, Tiger Global, Dragoneer, Westbridge, Mubadala, and M12 (Microsoft’s Venture Fund). Innovaccer has raised a total of $120M to date, including $35M in Series B funding, and $15.6M in Series A funding in 2016.
nference, a provider of AI-powered software platform to synthesize biomedical knowledge enhancing drug discovery, clinical research, and operations, raised $60 million in Series B funding from Mayo Clinic, NTT Venture Capital, Matrix Partners, and Matrix Capital Management.
Omniome, the developer of a DNA-sequencing platform, raised an additional $60 million with the completion of its Series C financing. The funding round was led by Madrone Capital Partners. Current investors include ARCH Venture Partners, Decheng Capital, Domain Associates, Biomatics Capital Partners, Altitude Life Sciences Ventures, and Nan Fung Life Sciences.
Healthcare analytics companies raised $7 billion since 2010, according to Marcom data. Click here to learn more.