mHealth Apps raised $912 million in VC funding in Q1 2021. The funding increased by 117% quarter-over-quarter (QoQ), compared to $421 million raised in Q4 2020.
Funding increased by 150% in Q1 2021, compared to $365 million raised in Q1 2020, according to Mercom’s Q1 2021 Digital Health Funding and M&A Report. $8.3 billion has been raised by mHealth apps since 2010.
Keep, a Beijing-based fitness app, closed a Series F financing round of $360 million led by SoftBank Vision Fund with participation from Hillhouse Capital, Coatue Management, GGV Capital, Tencent, 5Y Capital, Jeneration Capital, and Bertelsmann Asia Investments. Including the latest funding round, Keep has raised nearly $600 million to date.
DispatchHealth, a provider of in-home urgent care and hospital-at-home programs through a mobile app, secured an additional $200 million in Series D financing. Tiger Global led the funding round with previous investors Alta Partners, Echo Health Ventures, Humana, Oak HC/FT, and Questa Capital. Including the Series D funding round, the company has raised more than $417 million at a $1.7 billion valuation.
Rightway, which provides a consumer-centric care navigation and pharmacy benefits app, raised $100 million in Series C funding at a valuation of $1.1 billion. Khosla Ventures led the funding round, with participation from Thrive Capital, Tiger Global Management, and other existing investors. Including the latest funding round, Rightway has raised over $130 million to date.
Remote diabetes data management app Glooko raised $30 million in a Series D round of funding. Health Catalyst Capital led the financing with participation from existing investors Canaan Partners, Georgian, Novo Nordisk, Insulet, and Mayo Clinic. Including the latest funding round, Glooko has raised over $100 million to date.
Medisafe, a personalized medication management app developer, raised $30 million in Series C funding. The round was led by Sanofi Ventures and ALIVE Israel HealthTech Fund, with participation from Leumi Partners, Menorah Mivtachim, Consensus Business Group, Pitango HealthTech, 7wireVentures, M Ventures, Octopus Ventures, lool Ventures, Triventures, Ourcrowd, and Qualcomm Ventures.
Liva Healthcare, a digital health coaching app for diabetes patients, raised $30 million, led by Verlinvest. Including the latest funding round, Liva Healthcare has raised over $40 million to date.