Healthcare Data Analytics companies secured $906 million in venture capital funding from 22 funding rounds in Q1 2021, a 54% increase quarter-over-quarter, compared to $587 million raised in 17 funding rounds in Q4 2020, according to the recently released Mercom Digital Health Funding and M&A Report.
The top five healthcare data analytics companies secured 78% ($696 million) of the total $906 million funding during Q1 2021.
Top funded analytics companies in Q1 2021:
Komodo Health, an AI-enabled data analytics software platform for healthcare providers, announced a $220 million Series E funding round led by Tiger Global Management and joined by Casdin Capital. Existing investors ICONIQ Growth, Andreessen Horowitz, and SVB Capital also joined the round. Earlier this year, Komodo announced a $44 million Series D funding round. Including the latest funding round, Komodo Health has raised over $300 million to date.
Evidation Health, a health data analytics company, announced the close of $153 million in a Series E growth funding round. The round was co-led by OMERS Growth Equity and Kaiser Permanente Group Trust; existing investors, including McKesson Ventures and B Capital Group, also participated. Including the latest funding round, Evidation Health has raised over $250 million to date.
Clarify Health, a predictive healthcare data analytics solution, raised $115 million in Series C funding. Insight Partners led the round with Spark Capital, Concord Health Partners, HWVP, KKR, Rivas Capital, and Sigmas Group. Including the latest funding round, Clarify Health has raised over $200 million to date.
Innovaccer, a healthcare data startup, raised $105 million in a Series D round. The round values the company at $1.3 billion. Tiger Global Management led the funding round with participation from existing investors Steadview Capital, Dragoneer, B Capital Group, Mubadala Capital, M12 (Microsoft’s Venture Fund), and new investor OMERS Growth Equity. Including the latest round, Innovaccer has raised $225 million to date.
Personal Genome Diagnostics (PGDx), a provider of cancer genome testing analysis products for laboratories, raised $103 million in Series C financing led by Cowen Healthcare Investments with participation from Northpond Ventures, Vensana Capital, Rock Springs Capital, Kern Capital, Sands Capital, PFM Health Sciences, Windham Ventures, New Enterprise Associates, Innovatus Capital Partners, Catalio Capital Management, and others.
Digital Health data analytics companies have raised $9 billion since 2010, according to Mercom’s digital health funding data.