Venture capital firms continue to show a strong interest in digital health startups despite the COVID-19 pandemic. Digital health sector raised a record of $3.6 billion funding during Q1 2020, a 79% increase year-over-year, compared to $2 billion raised in Q4 2019, according to Mercom Q1 2020 – Digital Health Funding and M&A Report.
Healthcare scheduling, rating & comparison shopping companies secured $358 million during the quarter, a 69% increase year-over-year compared to $212 million raised in Q1 2019.
Top Funded Healthcare Scheduling, Rating & Shopping Companies
Alto Pharmacy, a leading digital pharmacy, raised $250 million in Series D funding round led by SoftBank Vision Fund 2, with participation from existing investors, GreenOaks Capital, Jackson Square Ventures, Olive Tree Capital, and Zola Global. Alto has raised over $350 million since its founding in 2015.
Kyruus – developer of healthcare provider search, scheduling, and data management solutions that help health systems match patients with the right providers and enhance patient access enterprise-wide, raised $42 million in Series D funding. Venrock and Highland Capital Partners led the round, with participation from existing investors: Providence Ventures and Salesforce Ventures.
Vezeeta – an online doctor appointment booking platform that enables users to choose a doctor by specialty, geographic area, insurance purveyor, and fees – raised $40 million in Series D funding round. UAE-based Gulf Capital led the financing round with further investment from existing Riyadh-based investor Saudi Technology Ventures (STV), BECO Capital, Silicon Badia, Vostok New Ventures, Crescent Enterprises’ CE-Ventures, and Endeavour Catalyst.
1mg (previously HealthKartPlus) – an Indian online price shopping and drug delivery company that enables users to search for medication and get information on dosage, common uses, and warnings – raised $10 million from Bill and Melinda Gates Foundation.
Okadoc, a Dubai-based app-based doctor booking platform provider, raised Dh36.7M (~$10M) in Series A funding round, which saw participation from Abu Dhabi Investment Office (Adio) and Ithmar Capital Partners.
Image credit: Alto Pharmacy