VCs just bet $3.2 billion on startups looking to transform healthcare. Meet the top 10 firms making the most digital health investments.
- In the third quarter, digital health companies brought in $3.2 billion in venture funding, according to a report from CB Insights.
- Overall, digital health startups have accounted for about a third of venture funding since 2016, according to the report.
- The venture capital firm Data Collective (DCVC) was the most active in the space in the third quarter, according to the report.
- But it's a crowded space, with four other VC firms tied for second place and five venture firms tied for third.
- These firms have invested in startups like Freenome, which focuses on early detection and prevention of cancer, and the drug discovery company Recursion Pharmaceuticals.
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So far this year, startups in digital health have raised more than $10 billion from investors placing bets on the future of healthcare.
And while digital health remains a lucrative area for investment, a report from CB Insights shows that digital health deals have been on the decline. There were 328 deals in the third quarter, down from the same period in 2018.
Since 2016, digital health has represented an average of 31% of healthcare deals, according to the report
Amid the decline, some venture investors are still finding opportunities.
There are 10 venture capital firms that have been especially active in the space, CB Insights reports. CB Insights ranked the VCs based on the number of unique digital health company investments they had made, but the report doesn't disclose those figures.
As more investors delve into the space, five VCs ranked as the third most active in the space, with four VCs ranked as the second most active digital health firms in the space, with Data Collective taking the top spot.
Here's who they are, and what they've been betting on:
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