This year is shaping up to be a big one for digital health funding after the sector received a record-setting amount for the first quarter, according to a StartUp Health report.
In Q1, the sector brought in $1.8 billion in funding, compared to $1 billion that came in Q1 of 2015. Overall, funding hit $5.8 billion in 2015--the year the sector "hit its stride," according to StartUp.
Now, as it enters Q2 of 2016, StartUp says digital health is continuing to transition "from something reminiscent of the Wild West to the early stages of maturity."
This year, there have already been four deals over $100 million, the report notes. One of those deals--which is part of the reason the year started so strong--was $400 million for insurance upstart Oscar Health. That deal makes up about 22 percent of the overall funding pot for the quarter.
The other three above $100 million include data/analytics company Flatiron ($175 million), Guardant Health ($100 million) and MindMaze ($100 million).
Areas that saw the most funding include big data and analytics at $286 million, medical devices at $198 million and patient and consumer experience at $195 million.
However, while initial public offerings in the segment--like Teladoc's for $157 million--helped boost numbers for 2015, there has yet to be a major IPO this year.
To learn more:
- download the report