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].
For this first edition, we are providing a roundup of funding rounds from January 1 through January 19, 2024.
For news about funding deals from 2023, check out our 2023 Fundraising Tracker.
Parent-led autism therapy provider Forta clinches $55M
Forta, a family-powered autism therapy startup, raised $55 million in a series A round.
The round was led by Insight Partners with participation from Exor Ventures and Alumni Ventures, plus founders of 23&Me, Curative, Forward, Flexport, Warby Parker, Prelude Fertility, Harry’s and Allbirds.
Forta plans to use the infusion of capital to expand its applied behavior analysis (ABA) therapy practice and develop its suite of clinical algorithms. Read the full story here.
Texas-based provider Harbor Health secures $95.5M
Harbor Health, a primary and specialty clinic group, secured an additional $95.5 million in funding. General Catalyst led the additional round of funding with strong participation by Alta Partners and continued support by 8VC. Total investment to date is more than $128 million.
The funding round also includes returning investors Health 2047 Capital Partners, Lemhi Ventures, Martin Ventures and a series of individuals.
The company grew from two locations to now eight locations in Central Texas - with more planned in 2024.
The company will use the funding to expand its primary care services, broaden the scope of specialty care offerings and develop plan designs that support care journeys co-created by consumers and their clinicians.
Virtual suicide prevention startup raises $22.5M
Vita Health, a provider of clinically validated suicide prevention closed a $22.5 million series A funding round.
The funding will support the rapid expansion of life-saving services targeting youth and adults nationwide, the company said. The Vita behavioral health care pathways are based on the founding team’s successful clinical trials published in JAMA, The American Journal of Psychiatry and thousands of patient encounters demonstrating reductions in suicide attempts by more than 60% and deaths by up to 80%, executives said.
The funding round was backed by investors LFE Capital, Athyrium Capital Management, Flare Capital Partners, CVS Health Ventures and CU Healthcare Innovation Fund along with Connecticut Innovations and HopeLab.
Founded in 2021, Vita Health provides suicide-focused care and general mental health services through an innovative, scientifically validated care model offering timely mental health care and support on a national basis.
Parallel Learning nabs $6.1M for teletherapy platform
Parallel, a K-12 teletherapy platform for children with special needs, secured a new round of funding, led by Rethink Impact with participation from insiders, totaling $6.125 million. This funding round is a supplement to the company's series A funding, boosting its expansion into new territories and product investments.
Parallel partners with K12 Schools and Districts to provide a comprehensive range of services.
The company also reported record growth throughout the company as of Q3, including an increase of 200% in its provider network, with over 95% of providers deciding to stay with Parallel.
DecisionRx picks up $100M credit facility
DecisionRx, Inc., a precision dosing and medication management solution, entered into a $100 million credit facility with global investment firm Carlyle.
The company developed technology to improve patient outcomes and reduce healthcare costs by helping physicians optimize prescribing decisions for their patients. The funding will support DecisionRx's growth.
The credit facility also is expected to fund lab testing and comprehensive medication reviews by DecisionRx pharmacists for over 100,000 patients.
As part of the deal, Carlyle will get an option to acquire 25% of the outstanding equity of DecisionRx.
Artisight picks up $42M for smart hospital platform
Artisight developed an AI-driven hospital infrastructure and optimization solutions and landed $42 million in an oversubscribed series B funding round to scale its technology.
The Artisight platform marries IoT sensors with deep learning and open integration standards to streamline safe patient care, including virtual nursing. Artisight's HIPAA-compliant capabilities include computer vision, voice recognition, vital sign monitoring, indoor positioning capabilities and actionable analytics reports, according to the company.
The series B round was backed by multiple strategic and client health system investors as well as full participation from series A investors, including chipmaker NVIDIA.
Health in Her HUE collects $3M
Health In Her HUE, a digital health platform aimed at reducing racial health disparities for Black women and women of color through technology, media and community, secured a $3 million seed funding round.
The funding will be used to fuel the company's growth by investing in talent and building out new programs and products, executives said.
The funding was led by Seae Ventures and included participation from Johnson & Johnson Impact Ventures (an impact fund within the Johnson & Johnson Foundation), Morgan Stanley Inclusive Ventures Lab, Genius Guild, HBCU Founders Fund, Stanford Impact Fund and a select group of angel investors.
Health In Her HUE was formed in 2018 to connect Black women and women of color with culturally sensitive and responsive healthcare providers and content to support them with accessing better care to improve outcomes.
The startup's platform provides its nearly 13,000 members with access to a suite of solutions including a directory consisting of over 1,300 diverse providers across 60 specialties, a collection of educational health content in the form of long and short-form videos, articles, and live on-demand virtual events and forums where women can engage and learn from each other on a variety of health topics.
Insurance technology startup DigitalOwl snags $12M
DigitalOwl developed an AI-powered medical record summarization platform for insurance companies and picked up $12 million in series A funding led by Reinsurance Group of America.
The companies also agreed to a strategic partnership to integrate DigitalOwl's technology into RGA's systems. This capital raise brings DigitalOwl's total funding to over $38 million since its inception.
DigitalOwl built a machine-learning platform that interprets medical records and assists underwriters and claims adjusters in their work.
Precision neurology startup Rune Labs collects $12M
Rune Labs, a startup that developed an app to track symptoms of Parkinson's disease, raised $12 million in a strategic round, boosting its total fundraising to $42 million.
The round was led by a new brain disorder fund, Nexus NeuroTech Ventures, with participation from existing investors, including Eclipse, DigiTx Partners, Moment Ventures and TruVenturo GmbH.
In 2022, Rune Labs’ StrivePD software ecosystem for Parkinson's disease was granted 510(k) clearance by the U.S. Food and Drug Administration (FDA) to collect patient symptom data, including tremors and dyskinesia, through measurements made by Apple Watch.
Rune Labs CEO Brian Pepin told STAT the company will use the funds to push the adoption of its technology among health plans that can use it to manage care for their members with Parkinson’s disease.
Extended reality startup XRHealth picks up $6M
XRHealth secured $6 million in funding led by Asabys Partners, with the participation of NOVA Prime Fund, a venture capital fund created by global innovator LG Electronics and Clearbrook, LLC., and XRHealth's current investors.
Following the merger between XRHealth and Amelia Virtual Care, the funding supports the growth of the combined entities, executives said. The funding will also further the development of an AI-based clinician that can treat patients for mental health conditions and walk patients through physical and occupational treatment programs.
XRHealth operates state-of-the-art therapeutic care virtual rooms, utilizing proprietary FDA and CE-registered medical extended reality (XR) technology (virtual and augmented reality). XRHealth integrates immersive XR technology, licensed clinicians, and advanced data analytics on one platform, providing a comprehensive therapeutic care solution for patients to receive treatment from the comfort of their homes.
The solution helps clinicians treat patients with a broad range of mental and physical health issues, such as acute and chronic pain, post-stroke needs, fibromyalgia, anxiety, stress and dementia.
According to the company, the merger with XRHealth and Amelia Virtual Care has created the largest extended reality platform company covering mental, physical and occupational health.
Shimmer secures $2.2M for virtual ADHD coaching
Shimmer, an online coaching platform designed for adults with ADHD, picked up $2.2 million in seed funding.
The round was co-led by Worklife Ventures and SeedtoB Capital, with participation from Koa Labs, Aglaé Ventures and Gaingels. The company plans to expand its AI-focused product development and launch a scientific study researching ADHD coaching outcomes under the auspices of leading universities in the United States and the United Kingdom.
Shimmer delivers live sessions with an expert ADHD coach, facilitated by the AI-driven digital capabilities of the platform. Members and coaches work together on tailored strategies and realistic action steps leading to long-term change, including improved relational health and career advancement.
Nabla snags $24M for ambient AI assistant
Nabla developed an ambient AI assistant for practitioners and picked up $24 million in series B funding to boost expansion across U.S. health systems and the launch of additional language options. The series brings the company's total funding to more than $43 million.
The series B round was led by Cathay Innovation, with participation from ZEBOX Ventures.
Clinicians are burnt out by managing electronic health records, Nabla argues. Its AI-powered tool, the Nabla Copilot, autonomously captures any physician-patient encounter, in-person or virtual, across any medical specialty. It has 95% accuracy, per Nabla, and aims to save clinicians time so they can focus on caring for patients.
“Clinical documentation is only the beginning for Nabla," Alex Lebrun, cofounder and CEO of Nabla, said in a press release. "Health systems are looking to leverage the AI opportunity to support their healthcare teams in many different aspects; we are getting ready to be there every step of the way.”
In under a year since its official launch, Nabla's AI assistant has overseen 3 million consultations, the company says. More than 20,000 providers have adopted the tool. Nabla was founded in 2018.