Top 10 Digital Health Funding Deals Secured 42% Of Digital Health Funds In Q1 2020

Top ten digital health funding deals accounted for 42% ($1.5 billion) of the total $3.6 billion raised in Q1 2020. One hundred thirty-two other digital health companies raised the remaining 58%, according to Mercom Q1 2020 Digital Health Funding Report. Companies focused on telemedicine, fitness, wellness apps, and wearable sensors were the primary investment target.

GV (formerly Google Ventures) led the financing activity with two rounds.

Digital Health - Top VC Funding Rounds in Q1 2020

The top 10 digital health funding deals:

ClassPass, a provider of app-based unlimited access to fitness and wellness classes across multiple gyms and studios, raised $285 million in a Series E funding round. L Catterton and Apax Digital led the round, with participation from existing investor Temasek.

Alto Pharmacy, a digital pharmacy, raised a $250 million Series D funding led by SoftBank Vision Fund 2, with participation from existing investors, GreenOaks Capital, Jackson Square Ventures, Olive Tree Capital, and Zola Global.

Swedish telehealth company KRY raised $155 million in Series C funding. The funding round was led by Ontario Teachers’ Pension Plan, with participation from existing investors Index Ventures, Creandum, and Accel Ventures.

Concerto HealthAI, a precision oncology platform, raised $150 million in Series B financing. Declaration Partners led the round with participation from Maverick Ventures, AllianceBernstein PCI, and SymphonyAI Group.

Element Science, the maker of a wearable patch that monitors heart, raised $145.6 million in Series C financing. Deerfield Healthcare and Qiming Venture Partners USA led the funding round with participation from GV (formerly Google Ventures) and others.

Chinese diabetes-focused telehealth company Zhiyun Health raised $144 million in Series C+ and D rounds. SIG Asia Investments led the Series C+ round, with participation from OP Financial, and Samsung Electronics. CMB International led the Series D round.

Tempus, a precision medicine company, raised $100 million in Series G financing at a post-money valuation of $5 billion. Investors include: The investors include Baillie Gifford, Franklin Templeton, New Enterprise Associates (NEA), Novo Holdings, and funds and accounts managed by T. Rowe Price.

Verana Health (formerly DigiSight), a real-world clinical data analytics company, raised $100 million. GV (formerly Google Ventures) led the financing round with participation from new investors: Bain Capital Ventures, Casdin Capital, and Define Ventures.

Virta Health – a provider of remote monitoring technology type 2 diabetes patients – raised $93 million in Series C funding. The round was led by Caffeinated Capital, with participation from early investors Venrock, Obvious Ventures, Creandum, Playground Global, and SciFi VC.

Hinge Health, a developer of wearable bands for musculoskeletal problems, raised $90 million in Series C funding. Bessemer Venture Partners led the financing round with participation from Lead Edge Capital and existing investors, including Insight Partners.