• According to the CB Insights annual ranking published Thursday, the most promising digital health startups have raised more than $ 20 billion in funding this year through more than 600 deals from more than 900 investors.
• 62 startups, or 41% of the list, sell remote telemedicine services, including platforms like Doctor on Demand, Heartbeat Health, and Livi. Remote monitoring and diagnostic platforms such as Oura and Element Science, and therapy and training applications such as Omada Health and Virta Health have also been added to the list.
• Some are partnering with key industry players, including Happify Health, which is developing digital therapies for mental health. He works with the American Heart Association, Sanofi, and Cigna. The private health insurance startup Bright Health has partnered with the Mount Sinai Health System and Mercy Health, according to the report.
The coronavirus pandemic, in particular, has resulted in the rapid adoption of telemedicine, although other remote treatment providers are stepping up their services with more specialized services.
These include some of the digital health startups earlier this year such as Onera Health, which makes sleep disorder technology, and Folx Health, a telemedicine service specifically for the LGBT community.
CB Insights researchers analyzed nearly 8,000 digital health startups for an annual review and selected 150 of the companies they see most promising based on factors such as patent activity, the competitive landscape, and technological innovation.
American startups topped this year’s list, accounting for 77% of companies from 18 different countries.
In addition to telemedicine, clinical intelligence and empowerment is another flagship category this year. CB Insights selected 26 of these companies to develop tools that allow providers and payers to make clinical decisions to make care more effective. These include platforms like Twistle and Wellth, which connect patients and providers, and Quartet Health, which coordinates psychiatric care.
In the first quarter of 2020, mental health startups raised a record $ 575 million in the capital, according to the report. Ten companies on this year’s list offer mental and behavioral health services, including teletherapy platforms like Lyra Health and Meru Health, and addiction management platforms like Axial Healthcare and CureApp.
Twelve unicorn companies valued at over $ 1 billion are also on this year’s list, including Ro, a telemedicine platform that provides remote assistance and drug delivery, and Oscar Health, the insurance platform. Another unicorn is CMR Surgical, which makes robotic surgical systems to aid surgeons with procedures.
Seventeen of the 150 digital healthcare companies on last year’s list stayed or became unicorns, while two went public and two were acquired.