At Fierce Healthcare, we keep track of all the venture capital being funneled into the health tech and digital health industries.
Our 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].
Previous fundraising tracker updates can be found here and here. For news about funding deals from 2023, check out our 2023 Fundraising Tracker.
Suki picks up investment from Zoom Ventures
Zoom Ventures. the investment arm of work and collaboration platform Zoom Communications Inc., invested in Suki, a voice-assistive AI and medical scribe tool.
Suki will join Zoom Ventures’ portfolio of AI investments, which includes Anthropic and CoreWeave.
Suki has now raised $168 million to date, including its $70 million series D raise announced in October, executives said.
The investment builds on Suki's partnership with Zoom, also announced in October, to integrate AI-driven clinical notes into Zoom's Workplace for Clinicians solution.
In 2024, Suki expanded 4x in only 12 months, according to Punit Soni, CEO and founder of Suki. "This new capital allows us to scale our technology, offering new capabilities to our customers, and we're grateful for the opportunity to expand the strong team we've built over the last seven years," he said.
Ricardo Anzaldua, head of corporate development and Zoom Ventures, said Suki's turnkey solutions enable health systems to seamlessly adopt AI-powered tools to improve productivity and healthcare outcomes. "This technology helps power Zoom's healthcare offerings and aligns with our mission of leveraging AI to drive employee productivity and enhance patient experiences. Suki's exceptional growth and widespread adoption within healthcare systems highlights the tremendous value their solutions bring to the healthcare industry," Anzaldua said.
Radiology AI company scores $50 million
Quibim, a health tech company pioneering the use of imaging biomarkers for precision medicine, closed a $50 million series A financing.
The fresh funding will help drive the expansion of Quibim’s product pipeline and foundational AI models and accelerates global commercial growth, the company said.
Read the full story in Fierce Medtech.
SafelyYou secures $43 million for AI solutions for senior care
SafelyYou developed AI-powered fall prevention and care optimization technology for senior living communities. Its technologies are used by assisted living communities and skilled nursing facilities in 34 states across the country.
The company now offers a suite of products to address resident well-being, staffing challenges and accuracy in billing for operators.
SafelyYou closed a $43 million series C financing round led by Touring Capital, a growth stage firm focused on AI-powered SaaS startups. Foundation Capital, Omega Healthcare Investors Inc., the Founders Fund, Cross Creek, Samsung Next and Qualcomm Ventures also contributed to the funding round. This brings the total funding raised by SafelyYou to more than $100 million.
The funding fuels SafelyYou’s ability to help solve critical challenges in senior care, including how accurately and efficiently operators can predict residents’ care needs, according to executives.
This new round of funding will help support the expansion of its products, including SafelyYou Clarity, which offers accurate care measurement without wearables, and SafelyYou Aware, which leverages the company’s data set to provide insight into resident wellness.
Founded in 2016 by George Netscher, SafelyYou was spun out of UC Berkeley’s Artificial Intelligence Research Lab. The company began by addressing the crucial issue of resident falls in senior living with SafelyYou Respond, consistently achieving remarkable results for communities, reducing falls by 40% and fall-related ER visits by 80%, according to the company.
Amplitude Vascular System raises $36 million
Medical device company Amplitude Vascular Systems picked up $36 million in series B funding. The company develops technology to treat severely calcified arterial disease.
The round was led by BioStar Capital and Cue Growth Partners and will support commercial readiness in the short term.
AVS will use the fresh funding to support the U.S. peripheral commercial launch as well as U.S. coronary and carotid IDE trials for the company’s Pulse Intravascular Lithotripsy device.
AVS began enrolling patients in October 2024 in the POWER PAD II U.S. IDE trial, which is a prospective, single-arm, multicenter study evaluating the technical and clinical success of the PULSE IVL System for treating patients with calcific femoropopliteal arteries. The study will enroll up to 120 patients at 20 U.S. sites, and enrollment is expected to be completed by the middle of 2025.
Medical coding platform pockets $27 million
KODE Health, an on-demand medical coding platform that connects healthcare systems with certified medical coding professionals, raised $27 million in series B funding. The startup will use the fresh capital to expand its network of certified coding professionals and develop new AI-driven tools.
The round was led by Noro-Moseley Partners with participation from Mercury, FCA Venture Partners, the Epsilon Innovation Fund and 111 West Capital.
Traditional medical coding services are plagued by staffing inefficiencies and bottlenecks. KODE says it is disrupting the conventional medical coding model through its proprietary platform that enables opportunities for certified coders and drives value to health systems by accelerating collections and reducing staffing costs.
Founded in 2021 by healthcare industry veterans Brian Dessoy and Brad Sawdon, KODE has a growing customer base of more than 5,500 certified coding professionals, serving 35 hospital systems across the U.S.
KODE has undergone significant growth since it launched and currently codes over a quarter million medical records a month, all while achieving consistent operational profitability, according to the company.
Allara Health lands $26M for women's hormonal healthcare
Allara Health, a virtual care platform designed to provide care for women with hormonal conditions like polycystic ovarian syndrome (PCOS), endometriosis and hypothyroidism, picked up a $26 million series B funding round.
The New York City-based company has raised a total of $38.5 million.
Index Ventures led the round and partner Martin Mignot will join Allara's board. Existing investor GV (Google Ventures) also participated in the round.
The fresh funding will enable Allara to continue to scale its specialized care to women struggling with hormonal conditions.
Today, 1 in 3 women will battle a chronic hormonal condition in their lifetimes, which can cause health challenges like infertility, high-risk pregnancies, obesity and diabetes. For those struggling, receiving a diagnosis and finding high-quality, supportive care can be difficult: Close to 70% of PCOS cases are undiagnosed, and it can take an average of 10 years to receive an endometriosis diagnosis.
Allara's care team, including OB-GYNs, endocrinologists, nurse practitioners and registered dietitians, takes a whole-body approach to patient care, virtually delivering evidence-based solutions to help patients feel better faster. Within a few weeks of treatment from Allara, more than 75% of patients report feeling more in control of their health, empowered about their care and hopeful about their outcomes.
In 2024, the company grew by 4x, officially launched its care model across all 50 U.S. states and forged new insurance partnerships with health plans including Aetna, Blue Cross Blue Shield, Cigna, Humana and United Healthcare.
Bicycle Health snags $16.5M for virtual opioid treatment platform
Bicycle Health, a provider of virtual opioid use disorder (OUD) treatment, collected $16.5 million in funding led by existing investor Questa Capital.
All other existing investors including SignalFire, Frist Cressey Ventures, City Light Capital, InterAlpen Partners, Valeo Ventures and the Hustle Fund participated in the round along with new investor JSL Health.
The company hit an important financial milestone in the fourth quarter of 2024, achieving operational profitability, executives said in a press release. Bicycle Health also increased its revenue, "signaling a model for sustainable growth as it scales access to opioid use disorder treatment nationwide," the company said.
Bicycle Health has already treated more than 40,000 patients across 49 states and aims to enhance accessibility through strategic partnerships.
With its new funding, Bicycle Health plans to expand access to its care model by partnering with more payers and health systems, hiring more addiction medicine specialists, expanding offerings for high-risk populations like adults in custody and building new technology to complement Bicycle Health’s OUD treatment platform.
The company has raised $104 million to date, according to PitchBook.
Medtech company scores $14 million for Alzheimer's disease ultrasound tech
Grey Matter Neurosciences secured $14 million in seed financing to develop an ultrasound headset for individuals with Alzheimer's disease and test that device in clinical trials.
The financing was led by the Wittington Innovation Fund with participation from Toronto Innovation Acceleration Partners, the Ontario Brain Institute and Ontario's Life Sciences Innovation Fund, an early-stage co-investment fund managed by the Ontario Centre of Innovation.
The neurotechnology company, which develops medical devices that facilitate therapeutic brain stimulation, also announced it licensed advanced focused ultrasound technology developed at the Sunnybrook Research Institute.
The technology licensed by Grey Matter was invented by focused ultrasound pioneer Kullervo Hynynen, Ph.D., and his team at the Sunnybrook Research Institute. Focused ultrasound is unique among neuromodulation modalities in that it can be used to noninvasively perform precise stimulation anywhere in the brain, offering a promising therapeutic approach for enhancing cognition in patients with Alzheimer's disease, according to the company. The Sunnybrook technique can operate without the need for external image guidance, making it more accessible and enabling its application in non-hospital settings.
The fresh funding will support advanced research on focused ultrasound neuromodulation, build a first-in-class product and establish the safety and feasibility of the technology in a clinical trial enrolling patients with Alzheimer's, executives said. Among other things, investigators will assess the ability of the transcranial-focused ultrasound device to sustainably improve cognitive performance, including memory.
Medsender takes in $5 million series A
A startup that provides AI-powered workflow automation raised a $5 million series A investment led by Ballast Point Ventures. Medsender plans to use the investment to bolster its commercial team, accelerate its technology pipeline development and drive industry-leading performance for its clients, according to the company.
Thousands of healthcare providers across all 50 states use Medsender to help reduce administrative burdens. The company uses AI to handle data from unstructured sources and streamlines operations by automating complex tasks such as processing referrals, scheduling and patient requests.
The startup's platform leverages artificial intelligence to process and synchronize data from unstructured sources, such as fax, email and phone, automating administrative workflows and patient communications. The platform streamlines operations by automating complex tasks like processing referrals, scheduling, and managing patient requests, enabling healthcare providers to focus on delivering quality care.
Medsender integrates with EHR systems and utilizes AI to automate administrative tasks. The company's AI Medical Assistant, MAIRA, manages all inbound patient phone calls with accuracy and an authentic humanlike voice, according to the company.