U.S. digital health companies secured $3 billion in funding across 122 deals in the first quarter of 2025, according to an April 7 report from Rock Health.
Here are five key findings from the report:
- Compared to the previous quarter, Q1 saw more capital invested across about the same number of deals, increasing the average deal size from $15.5 million to $24.4 million.
- Small, early-stage startups accounted for most deals in the first quarter.
- The largest funding rounds were led by major companies or startups backed by significant investors.
- Seed, Series A and Series B rounds comprised 83% of labeled deals, similar to 2024’s 86%.
- Notable large early-stage rounds included Achira’s $33 million seed round, OpenEvidence’s $75 million Series A and Hippocratic AI’s $141 million Series B.
Late-stage megadeals also returned in Q1 2025. Only five Series D or later rounds were recorded, but three surpassed $100 million: Innovaccer ($275 million), Abridge ($250 million) and Qventus ($105 million).