Early Stage Funding Deals Have Dominated Digital Health Since 2010

Close to 5,000 venture capital funding deals have been recorded in Digital Health since 2010, according to the Mercom Funding and M&A Database.

In terms of deals, early-stage funding has dominated Digital Health funding activity with a total of 1,092 seed round funding deals, followed by 757 Series A deals. Most of the early round deals were in mHealth Apps, which had 454 deals, followed by Telemedicine companies, with 188 deals. The rest of the deals were spread across other Digital Health categories, including Wearable Sensors, Mobile Wireless Devices, and Clinical Decision Support Software.

Early Stage Funding Deals Have Dominated Digital Health Since 2010 There were 454 Series B deals since 2010. Healthcare Data Analytics companies had 64 Series B deals, followed by mHealth Apps and Telemedicine companies with 63 and 48 deals, respectively. Series C rounds totaled 179 deals. Analytics and Apps companies, with 27 and 24 deals, respectively, led the activity.

There were 85 later stage rounds (Series D and Series E). Most of these funds went to Apps, Analytics, and Healthcare Service Booking companies. Series F, G, and H rounds had ten deals in total.

Khosla Ventures had the most Seed and Series A rounds since 2010 with 27. Norwest Venture Partners led Series B rounds with 11 deals, and GV (formerly Google Ventures) led Series C activity with eight rounds. HLM Venture Partners has six Series D rounds, and New Enterprise Associates (NEA) had three Series E rounds.

There were a total of 2,186 deals (with $17.3 billion) that did not have disclosed funding stages.

Early Stage Funding Deals Have Dominated Digital Health Since 2010 While early-stage transactions had the most number of deals, most of the dollars went into Series B and C deals. Over $9 billion went into Series B rounds, followed by Series A and C with $6.3 and $5 billion, respectively. There was $3.2 billion and $1.3 billion that went into Series D and Series E rounds, respectively. A total of $570 million went into Series F, G, & H rounds.

$44 billion in funding has been distributed across 58 Digital Health categories since 2010.