The funding influx far surpasses the previous record set in the second quarter, when AI startups raised $864 million across 75 deals. Third-quarter funding was driven in large part by the $550 million Series C funding round Babylon Health closed in August, which the London-based startup claimed was the largest-ever funding round for any digital health startup in the U.S. or Europe.
Overall global VC-backed healthcare funding remained flat in the third quarter; the $12.5 billion total is approximately the same as the year’s first two quarters. While digital health represents almost one-third of year-to-date VC funding in healthcare, digital health deals slowed in the third quarter: The sector experienced a significant drop from the record-setting $5.2 billion raised across 389 deals in the third quarter of 2018, down to $3.2 billion across 328 deals during the same time period this year.
View the full report here.
More articles on health IT:
Providence debuts health-focused radio station
Maine healthcare provider notifies 22,000 patients of data breach
Essential skill sets for today’s CMIOs: 5 insights
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.