10 digital health, telehealth startups raising millions during the COVID-19 pandemic

The coronavirus pandemic has accelerated the move toward telehealth and telemedicine platforms as patients and providers turn to remote visits to stay connected with social distancing. The data and digital health platforms that connect healthcare providers and support data analytics have also become critical for information sharing during this time.

COVID-19 has also affected the economy, causing furloughs, layoffs and high unemployment rates in many areas. However, there are still digital health companies raising money.

Here are 10 startups that have raised millions in the past few weeks:

Tyto Care raised $50 million as its all-in-one modular device and telehealth platform for on-demand remote medical examinations is being used by hospitals and healthcare organizations to treat patients during the COVID-19 pandemic. The New York-based startup announced the funding round on April 7 co-led by Insight Partners, Olive Tree Ventures and Qualcomm Ventures. The most recent round would bring total funding to $105 million.

98point6, a virtual care startup, raised $43 million to increase capacity for its technology amid the COVID-19 pandemic. The company reported patient volume increased 200 percent since January and 40 percent of the visits are COVID-19 related, according to a GeekWire report. Investors in the most recent funding round include Goldman Sachs' merchant banking division and Costco co-founder Jim Sinegal. The company has raised $129 million in the past five years and has more than 200 commercial contracts with employers, health plans and retail partners.

SonderMind, a company dedicated to behavioral health, raised $27 million in Series B financing to expand its platform. It currently operates as an integrated network of community behavioral health professionals in Colorado and expanding into new markets including Arizona and Texas. Its platform includes telehealth and a full technology suite to support behavioral health experts.

CyberMDX, a healthcare cyber intelligence company, secured $20 million in funding. Sham, a European insurance and risk management provider in healthcare, led the investment. CyberMDX now has $30 million in funding with existing investors including Pitango Venture Capital and Qure Ventures.

AristaMD, a digital health company that provides virtual consults, raised $18 million in Series B funding. The company announced on March 31 proceeds from the funding round, led by Cigna Ventures and MemorialCare Innovation Fund, will accelerate the expansion of its eConsult platform across the U.S.

SilverCloud Health, a digital mental health platform, reported it raised $16 million in Series B funding on April 8. The platform is designed for healthcare systems and providers, health plans and employers. MemorialCare Innovation Fund led the round and was joined by LRVHealth, OSF Ventures and UnityPoint Health Ventures.

Transparent Health Marketplace closed its Series B Preferred Stock Round, raising $11 million, the company announced on March 18. The company's technology platform is designed to promote payer, provider and patient interaction in workers' compensation cases.

Bright.md raised $8 million in its Series C funding round, led by B Capital and Seven Peaks Ventures. The artificial intelligence-powered virtual health services startup has raised $20.5 million to date, according to a GeekWire report. The company added a COVID-19 evaluation tool to its existing modules within a week of the first reported COVID-19 cases in the U.S.

Datos Health completed a $7 million round of Series A financing, the company announced on April 7. Datos, an automated remote care platform, now has $9.2 million in total funding that it plans to accelerate product development and facilitate rapid growth. Israeli venture fund Crescendo Venture Partners led the funding round, which also included Industry Ventures.

RelayOne, a surgical communication products developer, reported it raised $1 million through an investment from Cofounders Capital on March 25. The technology streamlines communication between surgical teams and third party medical device vendors.


Copyright © 2023 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars