Digital health companies saw a massive round of funding in the second quarter of 2017, putting the industry on track for a record-setting year.
Investors sunk $3.8 billion into the digital health industry during the second quarter, outpacing funding during every other quarter dating back to 2011, according to data compiled by StartUp Health. By comparison, digital health funding reached $2.1 billion during the second quarter last year.
The lucrative quarter pushed this year’s total funding to $6.5 billion, putting the industry on pace to exceed last year’s annual funding total of $8.3 billion.
Data analytics companies led the charge with $1.2 billion in total funding during the second quarter. Solutions targeting patient and consumer experience pulled in less than half as much, with $579 million, but that sector notched 56 deals.
Rock Health, which also tracks digital health deals, tweeted that the first half of 2017 was the biggest yet.
Earlier this year, the company reported $1 billion in digital health deals despite regulatory uncertainty surrounding an ACA repeal.