The top-funded digital health app categories in 2020 were mental health, diabetes, fertility, fitness, and meditation, which raised over $3 billion.
Top Funded Digital Health App Categories
Mental Health apps (focused on behavioral health, depression, anxiety, addiction, isolation, and stress) secured over $1 billion million during 2020. In a massive funding round, Lyra Health, a provider of mental health benefits for employers, raised $110 million in a Series D financing round. Mindstrong, which offers text-based 20-minute cognitive behavioral therapy for people living with mental illness, raised $100 million in Series C funding. Spring Health, a digital behavioral health benefits program for employees offered through employers, closed a $76 million Series B funding round led by Tiger Global.
Diabetes management apps (focused on blood sugar control, type 2 diabetes, blood pressure, diabetes prevention, and obesity) raised nearly $800 million during 2020. Zhiyun Health, a mobile app for diabetes patients, raised $144 million in a funding round. Virta Health, a type 2 diabetes management program provider through its virtual coaches, raised $65 million in Series D funding at over $1.1 billion. Omada Health, a provider of digital diabetes prevention programs, raised $57 million.
Digital Fitness and Nutrition apps raised over $600 million during 2020. ClassPass, a provider of app-based fitness classes, raised $285 million, bringing the company’s total to over $500 million to date. Keep, a fitness app, raised $80 million, bringing its total to almost $250 million to date.
Fertility and Pregnancy focused apps raised almost $400 million during 2020. Maven, a provider of on-demand digital pregnancy care and services for women, closed a $45 million funding round, bringing the company’s total to date to almost $100 million. Carrot Fertility, a provider of virtual fertility benefits programs for large employers, raised $24 million, bringing the company’s total funding to date to over $40 million.
Digital Meditation apps (focused on meditation, relaxing, focus, and mindfulness) secured over $300 million during 2020. Headspace, a maker of a meditation app for busy people in a massive round, raised $93 million, bringing the company’s total to almost $200 million to date. Calm – a developer of an app for meditation, mindfulness, sleep, and relaxing – raised $88 million in Series B financing at a $1 billion valuation.
Learn more about funding activity in digital health apps.
