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].
For news about funding deals from 2023, check out our 2023 Fundraising Tracker.
Sword Health scores $130M financing round
A virtual provider of musculoskeletal care, Sword Health banked a financing round of $130 million in a mix of primary and secondary sale, boosting its valuation to a reported $3 billion.
The company says its valuation has grown 50% from its series D round in 2021, when it was valued at $1.8 billion.
Virgilio "V" Bento, founder and CEO of Sword Health, told Fierce Healthcare that $100 million of that financing round will provide liquidity to current and former employees and early investors. Of the round, $30 million is a primary sale.
Sword Health did not disclose investors in this latest financing round but confirmed it was a mix of new and current investors. Investors in the company's series D round include Sapphire Ventures, Sozo Ventures, Willoughby Capital, General Catalyst and Khosla Ventures.
Biotech sensor company Allez Health picks up $60M
Allez Health Inc., formerly known as Zense-Life Inc., secured $60 million in a series A+ financing. The round was led by Korean in-vitro diagnostics company, Osang Healthcare Co., Ltd. as a strategic investor, with participation from existing investors.
Allez Health is a continuous glucose monitoring biosensor platform.
The new capital is expected to be used to accelerate growth towards pivotal trials, to support regulatory approval filings, and to scale manufacturing operations.
Tuesday Health secures $60M for end-of-life care
Raising $60 million, Tuesday Health launched its supportive care solution for seriously ill Medicare patients, in partnership with Valtruis, Blue Venture Fund, Mass General Brigham Ventures and CareSource.
Founded in 2023, Tuesday Health was developed from a partnership of Valtruis and Mass General Brigham Ventures.
Tuesday Health's mission focuses on providing supportive care earlier in a patient's journey and getting the right services, from the best providers, at the right time in an individual's life.
Tuesday Health provides compassionate, supportive care that aligns with patient and caregiver needs from diagnosis to treatment. Tuesday Health facilitates a seamless transition from Medicare Advantage, Medicaid, or commercial insurance into high-quality hospice care when appropriate, offering a coordinated and integrated experience for patients and caregivers, according to executives.
The startup's clinical program, powered by its proprietary technology platform includes its app mytuesday. Through the app, patients and caregivers can self-report symptoms, helping create personalized care plans delivered through a network of supportive care providers.
"Leveraging clinical expertise, advanced data solutions, and cutting-edge technology, while partnering with Ohio's largest Medicaid plan, its largest hospice provider and the unmatched palliative care experience of Mass General, Tuesday Health is dedicated to tackling one of healthcare's biggest challenges-providing support and care in the right setting, at the right time, for those facing serious illness", said Jim Wieland, CEO of Tuesday Health.
Medtech health and data company AcuityMD nabs $45M
AcuityMD picked up $45 million in new funding to expand its commercial intelligence platform and advance the company’s mission of accelerating adoption of cutting-edge medical technology.
The series B round was led by ICONIQ Growth, with additional participation from Boston-based Atreides Management and New York-based Stepstone Group as well as existing investors Redpoint Ventures, Benchmark Capital, and Artisanal Ventures. To date, AcuityMD has raised more than $83 million.
AcuityMD says it has achieved a significant 10x increase in annual recurring revenue since its 2022 series A raise.
Since its founding in 2019, AcuityMD has experienced rapid growth, now supporting more than 200 MedTech manufacturers—including six of the top 10—with its commercial intelligence platform.
Michael Monovoukas, CEO and co-founder of AcuityMD, says the company plans to use the additional capital to launch three new products to general availability, expand its pipeline management solution to more customers, and grow its engineering and product teams by 70% by the end of 2024.
Eko Health captures $41M to expand AI stethoscope business
Smart stethoscope maker Eko Health just raised $41 million in new backing to help expand its commercial reach in the U.S. and overseas.
The company’s series D round follows up on an FDA clearance in April that unlocked its artificial intelligence program for capturing cases of low cardiac ejection fraction, a key indicator of developing heart failure.
The new fundraising—which brings the company’s lifetime total to $165 million—was joined by ARTIS Ventures, Highland Capital Partners, NTTVC and Questa Capital. Meanwhile, strategic investments came from Double Point Ventures in the U.S. and the corporate investment arm of the Singapore Economic Development Board, EDBI, as well as from LG Technology Ventures in South Korea.
Boulder Care takes in $35M to expand virtual addiction treatment services
Virtual addiction treatment provider Boulder Care raised an oversubscribed $35 million series C funding round. New investor Advance Venture Partners (AVP) led the round, joined by Stripes, with participation from existing investors, including First Round Capital, Qiming Venture Partners, and Laerdal Million Lives Fund.
Boulder delivers treatment for substance use disorders (SUD) with specialized clinical care, peer support, and social services, in partnership with a broad range of leading health plans.
Boulder has served over 12,000 patients nationwide with industry-leading outcomes, according to the company.
The company will use the new capital to meet the rising demand for addiction treatment services nationwide.
Atropos Health lands $33M to scale AI-powered real-world evidence
Atropos Health, maker of a real-world data platform, sits at the intersection of two rapidly growing fields, real-world evidence research and artificial intelligence.
The startup, founded in 2019 as a spin-out of the “Green Button” technology developed at Stanford University, is getting closer to its mission of addressing the evidence gap in healthcare and has secured $33 million in series B funding to help fuel its growth.
Venture capital firm Valtruis led the series B round backed by existing investors Breyer Capital, Emerson Collective and Presidio Ventures. The company also added new strategic investors including Cencora Ventures, McKesson Ventures and Merck GHI Fund.
Atropos Health plans to use the fresh funding to fuel the company's work in generative AI capabilities. Atropos launched its large language model-driven chatbot, ChatRWD, in beta in Q4 2023 and aims for a full launch this year.
Expressable clinches $26M for tech-enabled speech therapy solution
Expressable picked up $26 million in series B funding to build out its virtual speech therapy services.
The round was led by global investment firm HarbourVest Partners, with participation from Digitalis Ventures and existing investors F-Prime Capital and Lerer Hippeau.
Expressable integrates virtual services with its comprehensive education and technology platform, empowering caregivers to incorporate therapy techniques into the home for faster positive outcomes and more cost-effective care.
The financing will support efforts to enhance the company's technology-enabled care delivery platform, expand their clinical network of W2-employed speech-language pathologists, and accelerate a growing roster of health plan and provider partnerships across the country.
Expressable says it has partnered with hundreds of health plans nationwide, including Medicaid, to make high-quality therapy more accessible to everyone in need. Their therapy platform is now available in all 50 states to millions of families and individuals with timely, in-network coverage.
Medical nutrition therapy company Fay emerges from stealth with $25M
Startup Fay emerged from stealth after raising $25 million to tackle the emerging crisis stemming from food and our relationship with it. Fay connects people with registered dietitian nutritionists who deliver personalized nutrition counseling to change the way individuals think and feel about food—and gets all of the care covered by insurance.
A year after an unannounced seed round led by General Catalyst, Fay’s new $20 million series A round was led by Forerunner Ventures with participation from General Catalyst and 1984. Fay is also backed by founders at Grow Therapy and Maven Clinic.
Fay says it has the country's largest and fastest growing network of registered dietitians (RDs) in all 50 states, Fay plans to use the investment to further accelerate growth and enrich its offerings for both dietitians and their clients.
With over 1,000 providers on the platform to date, Fay is projected to exceed 2,000 providers by 2025. Fay dietitians cover more than 30 specialties, such as eating disorders, diabetes, kidney disease, weight management, gut health and general preventative care.
Future growth plans include integrating with food service delivery platforms to address food insecurity, expanding insurance coverage, and enhancing partnerships with existing employer plans.
Fay has partnered with major health insurance providers, including United Healthcare, Aetna CVS, Blue Cross, Anthem, Cigna, Optum and Humana.
Valar Labs banks $22M for oncology diagnostic platform
DCVC and Andreessen Horowitz co-led a $22 million series A in Valar Labs to accelerate the company's work to use AI for precision oncology.
The company's founders say they started Valar Labs to reduce uncertainty in cancer treatment decisions. Every day, oncologists are faced with challenging decisions for millions of cancer patients to determine which treatment pathway is most likely to be effective for a given patient.
Precision oncology started with sequencing of solid tumors, then progressed to liquid biopsies. The space is now entering the digital and AI generation of precision oncology.
"Valar Labs is pioneering this new category of diagnostic testing where pathology paired with AI yields unprecedented insight into clinical outcomes and treatment response," executives wrote in a blog post.
The funding will support the advancement of Vesta, an AI test to predict treatment response in bladder cancer, and catalyze the company's expansion in other cancers.
Anterior pockets $20M to use AI to make prior auth seamless
Anterior is an AI company built by clinicians to transform healthcare administration. The startup picked up $20 million in series A funding round to build out its tech to streamline administration tasks for payers and providers.
The funding round was led by New Enterprise Associates (NEA), with participation from Sequoia Capital, Blue Lion Global, and Neo.
Previously named Co:Helm, the company recently rebranded to Anterior.
Anterior initially focused on making prior authorization invisible, like the seamless communication that occurs when a credit card is swiped. Anterior’s technology leverages generative AI to clinically reason, delivering value out of the box, according to executives.
The company plans to use the funding to accelerate its hiring and growth strategies. Anterior’s AI clinical co-pilot, named Florence (Nightingale), tackles the challenges that weren’t previously solvable by technology.
Anterior was founded by Abdel Mahmoud, M.D., a doctor turned engineer and a Facebook and Google alum.
Plenful picks up $17M to automate administrative tasks
Startup Plenful launched out of stealth seven months ago to tackle the labor challenges and administrative bottlenecks plaguing pharmacy operations.
Plenful, which developed an artificial intelligence workflow automation platform to streamline pharmacy and healthcare operations, banked $17 million in series A funding to build out its infrastructure and fuel more product development.
The series A funding round was led by TQ Ventures with participation from Bessemer Venture Partners, Mitchell Rales (co-founder and chairman of Danaher), Susa Ventures and existing investors.
SamaCare snags $17M for specialty med prior authorization platform
SamaCare developed a cloud-based patient access platform for specialty medications. The startup closed an oversubscribed $17 million series B investment round led by new investor Questa Capital.
Existing investors Vive Collective and South Park Commons also joined the round.
SamaCare plans to use the funding to accelerate product development of its one-stop patient access platform that saves healthcare organizations time and resources while ensuring patients receive therapy sooner. The company said it will use the investment to build the comprehensive Script-to-Therapy Operating System.
SamaCare partners with over 15,000 providers. Pharmaceutical clients partnering with SamaCare have seen abandonment rates drop by 24%, time-to-approval cut by over 84%, and a reduction in unnecessary administrative prior authorization denials by up to 42%, the company said.
Employer-focused pharmacy benefits company Truveris adds $15M
Truveris, a company that provides pharmacy benefit solutions to employers, raised $15 million in series E investment led by two lead investors, Canaan Partners and New Leaf Venture Partners.
The funding will support Truveris’ next stage of corporate development and operational growth. Truveris’ proprietary technology platform replaces traditional PBM (pharmacy benefit manager) contracting and renewal models. The company says it creates a transparent and dynamic competitive marketplace that drives significant savings on pharmacy pricing and improved contract terms.
Better Health raises $14M to deploy expanded payer partnerships
Medical supplier Better Health has raised $14 million in a strategic funding round backed by CareFirst BlueCross BlueShield’s venture capital arm, Healthworx.
The company hopes to use the funds to expand its payer partnerships and reach more members with chronic disease.
Outside of CareFirst’s $2.5 million commitment, the University of Miami Health System and Mosaic General Partnership also invested in this round of funding.
Canary Speech plucks $13M series A for AI-powered voice biomarker tech
Canary Speech developed technology to help healthcare organizations screen for mental wellness and cognitive health.
The startup developed AI-powered voice biomarker health technology that uses real-time patented vocal analysis to screen for mental health and neurological disorders. Canary’s vocal biomarker technology captures and analyzes speech data within seconds to identify irregularities in behavioral and cognitive changes before current clinical screening standards or noticeable symptoms for invisible illnesses like anxiety, depression and dementia.
Canary secured a $13 million series A funding round led by Cortes Capital, LLC (Love’s Private Equity), with participation from Sorenson Communications, LLC., SMK (Japan), and Hackensack Meridian Health.
The company plans to use the fresh capital to expand its team to support the accelerating growth driven by advancements in artificial intelligence and the healthcare industry’s demand for more advanced tools.
As an API-first company, Canary’s vocal biomarker technology has a wide range of applications within the healthcare industry. These applications include contact centers, ambient clinical listening, remote patient monitoring, and annual wellness checks. Ambient listening tools, which are systems designed to unobtrusively capture and analyze conversations in real-time, enable healthcare providers to focus on patient interactions while automatically documenting clinical notes.
Marigold Health secures $11M to expand peer-based addiction support
Marigold Health closed an $11 million series A fundraise to scale up its peer support program.
Rock Health and Innospark Ventures led the round with additional investment from the Commonwealth Care Alliance (CCA), Wavemaker360, Stand Together Ventures Lab, Epsilon Health Investors, Koa Labs, VNS Health Plan and KdT Ventures.
Marigold is addressing a national shortage of substance use disorder care by expanding access to high-quality peer support.
The startup's proprietary peer support program combines one-on-one coaching from a certified peer specialist with 24/7 access to text-based support groups in the Marigold app, which is integrated with natural language processing that flags health needs expressed in chats and triggers additional support when needed.
The series A will allow Marigold to meet a national demand for more engaging SUD supports – their program is currently available to 25,000 members in Delaware, Rhode Island, and Massachusetts and Marigold is expecting to expand to at least 4 additional states by the end of next year.
Grayce nabs $10.4M for caregiver support platform
Grayce developed a comprehensive program that connects social workers to families navigating care for loved ones and themselves.
The startup raised $10.4 million in series A funding to scale its platform to enhance its employer solution and member experience as well as enter the payer market.
Maveron led the round with participation from BBG Ventures and Correlation Ventures, GingerBread Capital, Alumni Ventures, Visible Ventures, Gaingels, and What If Ventures.
Grayce’s social care platform addresses unmet needs in medical care, supporting family caregivers in reducing stress and navigating caregiving complexities. Each member receives dedicated support from a social worker who manages their comprehensive care needs—from planning and prioritizing to identifying resources, coordinating care, and advocating on their behalf. For example, for an aging parent, Grayce could help a family to navigate eldercare needs, including evolving housing and in-home support, paying for care, treatment considerations, and social support.
The platform is available globally in over 250 languages.
With this new round of funding, Grayce will partner with payers to extend its comprehensive support to additional populations.
Additionally, Grayce will continue investing in data-driven personalization, expanding on the breadth of its offerings for members across all geographies and spectrum of care needs. Grayce plans to strengthen its community and content offerings.
Amino Health picks up $10M to scale benefits navigation platform
Digital healthcare navigation company Amino Health picked up a $10 million funding round led by Transformation Capital.
The funds will be used to accelerate Amino’s AI product roadmap to build personalized patient care journeys, the company said. This latest capital infusion follows a $30 million investment by Transformation Capital in May 2023.
The startup build its care navigation platform to simplify the complexity of healthcare by recommending high quality healthcare providers based on objective, proprietary clinical data. Amino created a simple consumer interface that routes more than 10,000 medical topics to the best provider, facility, or employer program.
Amino’s AI investments will further improve the user experience by offering personalized care recommendations based on a user’s unique care journey.
Automation platform for healthcare emerges from stealth with $3M
Keragon, an AI-powered HIPAA-compliant automation platform for healthcare, launched out of stealth armed with $3 million.
The pre-seed funding round was co-led by Focal and Afore, followed by 25 Madison Health - Lifepoint Health.
The platform enables instant integration of various popular software used by healthcare practitioners, such as EHRs, healthcare CRMs, AI medical scribes, appointment scheduling and billing software. It has also built-in personalized AI assistants that fuel faster automations with less hassle.
Keragon says it's the first no-code workflow automation platform designed specifically for the U.S. healthcare industry. Currently, it is used by practices and clinics, fast-growing digital health startups, all the way up to hospitals & NASDAQ-listed companies, across 50 states.
With over 100 pre-built healthcare integrations, multiple data transformation helpers and advanced error debugging capabilities, Keragon claims it is set to accelerate the digital transformation of healthcare.