We highlight the top-funded digital health startup in every US state, from tech-focused health insurer Oscar in New York to cancer detection startup Grail in California.
Funding to digital health startups is soaring. Last year, investors poured nearly $15B into the sector — a 33% uptick year-over-year.
In 2019 year-to-date, the states that have seen the most equity deals to digital health startups are, unsurprisingly, California, New York, and Massachusetts — but investors have bet on the sector across the country.
Using CB Insights data, we mapped out the top-funded digital health startup in every US state.
Collectively, these startups have raised $8.6B in total disclosed equity funding, with leading companies including cancer-focused molecular and clinical data startup Tempus (Illinois), emerging health insurer Bright Health (Minnesota), and care coordination platform Privia Health (Virginia).
See the full map below. For more on top-funded digital health startups, check out our research on the top 10 most well-funded US digital health startups over time.
Our analysis looks at total equity funding to private digital health startups that have raised an equity deal in the last 5 years (since 1/1/2014). We define digital health to include companies in the healthcare space that use technology and software as a key differentiator.
Please click to enlarge.
- The most well-funded US digital health startup is California-based early cancer detection startup Grail, with $1.6B in total disclosed equity funding. Most recently, the startup raised a $300M Series C from CRF Investment, Sequoia Capital China, and WuXi Nextcode, among others, to reach a $3.2B valuation.
- Grail is followed by New York-based tech-focused health insurer Oscar Health ($1.3B in total disclosed funding) and Massachusetts-based DNA startup Ginkgo BioWorks ($726M).
- There are 5 unicorn startups on our map: Ginkgo BioWorks ($4.2B valuation), Oscar ($3.2B), Grail ($3.2B), Tempus ($3.1B), and diagnostics & imaging startup Butterfly Network ($1.3B).
- 19 startups on our map have at least $100M in disclosed equity funding.
- 37 startups on our map have raised more than $10M in disclosed equity funding.
- The startup with the least funding on our list is AxoSim Technologies in Louisiana, with $1.1M. The company focuses on preclinical predictions around new drugs’ safety and efficacy.
- 11 companies in our map are included in our Digital Health 150 list, which highlights the most promising private digital health companies working to transform the healthcare industry. This includes AI-powered disease detection startup IDx Technologies (Iowa), dental insurer Beam Dental (Ohio), and care management platform Accolade (Pennsylvania). See the full list here.
|State||Company||Total Equity Funding ($M)|
|Arizona||Centauri Health Solutions||118.44|
|Kansas||Bardavon Health Innovations||20.88|
|Missouri||Essence Group Holdings||407|
|New Mexico||Electronic Caregiver||46.66|
|New York||Oscar Health||1267.5|
|North Dakota||Intelligent InSites||7.74|
|Rhode Island||Virgin Pulse||124.87|