Midyear Florida Digital Health Funding: 11 Deals & $193M Invested

Published Thursday, July 5, 2018


Florida (11 deals & $193M invested

South Florida (4 deals & $158M invested)

Top Florida Digital Health Deals:

  1. Insightec (Miami $150M)
  2. Voalte (Sarasota $15M)
  3. Peerfit (Tampa $8M)
  4. Healthmap Solutions (Tampa $5.6M)
  5. Bridge Connector (Palm Beach Gardens $4.5M)
  6. ObioHealth (Orlando $3M)

STARTUP HEALTH INSIGHTS:  2018 Midyear Global Digital Health Funding Report

2018 Midyear Summary

Deal volume continued to trend upwards through the first half of 2018, with a total of 414 deals. That's approximately a 20% increase over the first half of 2017.

  • Late-Stage Investment Continues to Grow: Early stage deals still dominate the market volume, but we saw more series B deals (as a percentage of total deals) – and larger series C and D deals – than ever. This resulted in a record first half, with over $6B total raised.
  • Huge International Deals: Three of the top ten deals of the quarter involved companies based outside the U.S. – Toronto, London, and Zhenjiang. Zhenjiang makes its debut on our list of international hubs, joining Stockholm and Tel Aviv as a top city to watch.
  • Power to the Patient: Patient empowerment sits at the top as the most funded function (a company’s main activity/value driver), and patients are the second most funded end user. Six out of eight top investors made major investments in patient empowerment as well.
  • China’s Funding Surge: China is proving to be the most consistent and well-funded country in the international digital health market, with funding totals in Beijing rivaling major U.S. cities. With well-resourced players like Ping An committed to digital health investments, we expect this trend to continue.
  • Less Time Between Early Raises: While seed and series A deals as a percentage of all deals decreased, average time between these two rounds has also decreased.
  • Top Investors Cast a Wider Net: Nine of this year’s top ten investors are making deals at multiple stages, and five are making deals at every stage. More investors are keeping an eye out for transformative technology and growth potential, regardless of deal size.

There have been 754 unique investors in digital health so far in 2018, compared to 583 at midyear 2017. If historical trends continue, those 754 unique investors will more than double by the end of the year.

The time between seed and series A funding has sped up, with the average time between rounds falling by 2.5 months to 15.7 months. Companies addressing admin workflow issues have proven to be the fastest, with new rounds taking just over a year to raise. Companies addressing clinical workflow are taking almost six months longer on average to raise a series A.

Most Active Technologies of 2018

  • Web App ($2.4B)
  • Mobile App ($1.3B)
  • Analytics Tools ($1.0B)
  • Genetic Sequencing ($828M)
  • Hardware / Medical Devices ($590M)

Most Active Applications of 2018

  • Diagnostic/Screening ($978M)
  • Genomics ($959M)
  • Clinical Decision Support ($683M)
  • Care Coordination ($668M)
  • Operational Management ($518M)

The Most Active U.S. Metro Areas of 2018

While many metro areas on our list are equaling their 2017 pace, Boston and Phoenix showed strong growth in the first half of 2018. San Francisco, New York, and Boston have dominated in funding deals and dollars, accounting for 78% of total deals (146) and 81% of total dollars invested ($3.32B).

1. San Francisco Bay Area (77 deals & $2.2B invested)

2. New York City (46 deals & $634M invested)

3. Boston (24 deals & $498M invested)

4. Los Angeles (9 deals & $109M invested)

5. Austin (7 deals & $$107M invested)

5. Chicago (7 deals & $165M invested)

7. Seattle (5 deals)

7. Baltimore (5 DEALS & $93m Invested)

7. Philadelphia (5 deals)

7. Minneapolis (5 deals & $137M invested)

11. Denver (4 deals & 117M invested)

11. Phoenix (4 deals & $56M invested)

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