In the third quarter, the digital health sector secured $800 million in funding and 60 new deals, marking a multiyear low since 2020, according to a Dec. 13 report from PitchBook.
Three things to know about digital health funding in the third quarter:
- The digital health sectors securing the highest funding in 2023 include primary and general telehealth at $590.5 million, teletherapy and behavioral health at $431.9 million, and care coordination and navigation at $470.5 million.
- In contrast to earlier quarters, where there were several venture capital rounds exceeding $100 million, the third quarter witnessed only one such instance.
- General Catalyst was the No. 1 digital health VC investor since 2020, followed by Optum Ventures.