So far in 2014, $5 billion has been invested into digital health, according to a new report by StartUp Health. The funding made in the first three quarters of this year has already surpassed the total invested in 2013, according to StartUp.
"We are living in an extraordinary moment in history where big data, sensors, genetics, connected mobile devices are making it possible for entrepreneurs to reimagine what's possible in healthcare," Unity Stoakes, president and co-founder of StartUp Health, said in an announcement.
For 2014, some of the biggest investments include Privia Health, Preventice, Proteus Digital Health, NantHealth and Flatiron Health, according to StartUp Health.
A similar report published this week by Rock Health shows digital health funding for 2014 at more than $3 billion for deals above $2 million. That number is up from the $2.3 billion raised in the first six months of the year.
The average deal size for 2014 dropped $2.5 million per deal to $13.1 million since the mid-year mark, according to Rock Health. However, the average deal is still 31 percent larger than 2013.
Some of the biggest deals in the quarter, according to Rock Health, included Teladoc with $50.3 million and Chunyu with $50 million.
Of the top six trends of 2014, the three biggest include:
- Analytics and big data, which has brought in $381 million
- Digital medical devices, which have brought in $280 million
- Healthcare consumer engagement, which brought in $238 million
Funding for digital healthcare startups in the U.S. is expected to double to $6.5 billion by the end of 2017, according to recent research from Accenture.
To that end, the health IT industry itself has recently gained a reputation as an emerging sweet spot for technology investors, according to a Reuters report.