The pandemic-induced healthcare boom is only just getting started.
Healthcare startups shattered yet another fundraising record in the first quarter of 2021 with roughly $31.6 billion in private funding, according to a new report from CB Insights.
The majority of digital health funding measured in the number of deals came from just eight VC firms in the US. The top firm overall was Tiger Global, which backed 11 unique digital health startups in the first quarter of the year.
Tiger Global has made waves in digital health and other industries since November. The $65 billion asset manager has backed some of the hottest healthcare startups, including Hinge Health and Cityblock Health, in addition to other big bets in fintech and consumer technology. Insider previously reported that, of Tiger's 22 digital health investments, 15 had come since November.
Other top investors backed startups in telehealth, mental health, maternity care, and other areas of digital health that have been booming since the onset of the pandemic.
The 6 most active investment firms in digital health made 44 unique bets on these startups:
- Tiger Global, the $65 billion asset manager, made investments in Aledade, Carrum Health, Cedar, Cityblock Health, DispatchHealth, Hinge Health, Innovaccer, Komodo Health, Rightway, Sidecar Health, and TytoCare.
- General Catalyst, which has raised $7 billion to date, invested in BrightInsight, Casana, Circulo, Cityblock, Color, Corvia, Plume, Ro, Truvian, and ixLayer.
- Khosla Ventures has $5 billion under management and invested in Earli, Forward, Genalyte, Ginger, Inflammatix, Lumiata, Rightway, Scipher, and Sword Health.
- $40 billion firm Insight Partners invested in Alma, BrightInsight, Clarify, Eden Health, Hinge Health, Theator, TytoCare, and Viz.ai.
- Silicon Valley stalwart Andreessen Horowitz, which manages $16.5 billion, invested in Akasa, Bold, Cedar, Earli, Insitro, and Ribbon.
- Accelerator fund SOSV invested in Pregnancy Tracker, Ember, Gatehouse Bio, Phable, Sequential, and Ten63.
