A new year brings a new approach to tracking health tech and digital health investments.
Fierce Healthcare is switching from a continuous fundraising tracker to a weekly roundup of financing rounds.
Our weekly fundraising tracker provides updated coverage of noteworthy digital health and health tech funding rounds, though we'll still profile exciting new companies and larger rounds that catch our eye in-depth.
Do you have fundraising news to share? Email Senior Editor Heather Landi at [email protected].
Below are funding deals from January 20 through January 26.
For news about funding deals from 2023, check out our 2023 Fundraising Tracker.
AMA venture studio launches cybersecurity startup
HEAL Security launched out of stealth backed by Health2047, a Silicon Valley-based venture studio founded by the American Medical Association (AMA).
AMA's venture studio invested $2.3 million in the startup, with additional co-investor funding bringing its total pre-seed investment to $4.6 million.
HEAL developed a cognitive cybersecurity intelligence platform custom-designed for the healthcare sector. The company provides real-time, actionable insights to equip healthcare providers with the tools necessary to navigate the complexities of the digital age, ensuring the safety and confidentiality of patient data against a backdrop of ever-evolving cyber threats, the company said.
HEAL was founded in 2021 in response to the growing number of cyber attacks on the healthcare industry. The company claims it is the sole cyber intelligence entity exclusively devoted to healthcare. I
It launches out of stealth with its flagship solution, HEAL Security Desktop, a cohesive platform that consolidates the latest data, insights, and assessments of the global healthcare cybersecurity landscape into a dashboard, enabling customers to evaluate and take action against cyber threats and risks.
Care Continuity banks $10M for patient navigation
Care Continuity, a startup that provides data-driven patient navigation, closed a $10 million series A-3 funding round co-led by Empactful Capital & Viewside Capital Partners with participation from Flat Creek Capital and Loop 289 Limited Partners.
The company says it serves some of the country's largest health systems, payers and accountable care organizations.
The funding will enable Care Continuity to further its mission of helping health systems, payers and ACOs employ an efficient patient and member-centered care journey, as well as make strategic investments in growth, product development, and further enablement of AI to enhance Care Continuity's already strong patient navigation offerings, the company said.
In addition to assisting health systems in reducing patient leakage by providing patient-centered navigation, Care Continuity's analytics, digital tools and one-to-one concierge interactions also provide payers, ACOs and other risk-bearing entities in healthcare with a quality medium to engage members and navigate them to network care.
CardioSignal picks up $10M for smartphone-based heart exam
CardioSignal, the developers of an app that performs a heart test using some of the most basic smartphone features, has collected $10 million in early venture capital funding to validate its approach in the clinic.
CardioSignal’s software utilizes the motion data recorded by a smartphone’s accelerometers—the internal chips typically used to swap the screen from portrait to landscape mode, based on how you hold it, or to count a user’s steps.
But when users lie down and place the phone on their chests for one minute, CardioSignal’s software aims to pick up the subtle movements associated with a beating heart and to search for patterns associated with irregular rhythms or other conditions.
The startup calls it gyrocardiography, and it has set a goal of providing affordable disease detection without the need for specialized sensors or hardware.
The company’s series A funding round was led by DigiTx Partners and included backing from Sandwater and Maki.vc. To date, the company has raised $23 million.
Read the full story in Fierce Medtech.
Price transparency startup picks up $30M
Price transparency data startup Turquoise Health clinched $30 million in fresh funding to build out its capabilities.
Regulators continue to step up price transparency requirements for providers and payers and that's driving demand for Turquoise Health's services and offerings.
The series B investment was led by Adams Street Partners, with participation from Yosemite, as well as existing investors Andreessen Horowitz and BoxGroup.
The company banked $20 million in funding in May 2022 and has raised $55 million to date.
Turquoise will use the funding to further support transparent pricing workflows across its customer base of over 160 healthcare organizations.
Isaac Health collects $5.7M for brain health and dementia care
Digital health company Isaac Health launched in 2022 to provide a virtual brain health and memory clinic platform with the goal of improving access to constrained brain health services.
Isaac Health partners with health systems and health plans to screen, diagnose, treat, and manage their populations who have brain health conditions, starting with dementia. The startup is also available to patients or their caregivers directly as a memory clinic service.
Isaac Health completed an oversubscribed $5.7 million seed round to fuel its growth. The round was led by Meridian Street Capital and B Capital with participation from Primetime Partners, Co-Found Partners, VU Venture Partners and AirAngels.
Insurtech Ansel raises $20M
Ansel, a company that offers simplified supplemental insurance for members diagnosed with more than 13,000 conditions, banked $20 million through a funding round led by VC group Portage.
The startup has now raised more than $50 million in total, according to a press release. The company's mission is to enhance, but not coordinate with, primary health insurance to help individuals with rising medical bills. Ansel was previously known as Brella Insurance.
Other groups participating in funding included Two Sigma Ventures, Brewer Lane Ventures and Morgan Creek Capital Management.
Being Health nabs $5.4M to launch mental health practice
Being Health, a mental health practice, launched in New York City to help provide personalized and comprehensive mental health care. The practice offers a diverse array of psychiatry, psychotherapy and novel treatments like ketamine infusion therapy, to treat patients experiencing anxiety, depression, trauma and stress.
Backed by investors 18 Park and HDS Capital, Being Health raised $5.4 million in funding for its integrated care model. Clinicians including psychiatrists, psychotherapists, nurse anesthetists, functional medicine physicians, nutritionists and acupuncturists collaborate to provide patients with personalized care based on their individual needs.
The practice operates a 7,000-square-foot clinic in Lower Manhattan at 76 Beaver St. where it provides in-person care. Being Health also offers virtual appointments.