Digital Health Startup Funding 2025-2026

What are all the funding deals in the digital health market from August 2025 to September 2026?

The table below lists every qualifying disclosed equity financing raised by pure-play digital health companies from August 2025 through September 2026. We define the digital health market as products and services that use digital technology to deliver, support, or improve health care and health outcomes.

We include telehealth and virtual care, remote monitoring and connected devices, health IT and clinical workflow software, and patient-facing health applications. For a wider analysis of the market, its segments, funding patterns, and opportunities, see our Digital Health market report.

How active has fundraising been in the digital health market?

As of September 2026, fundraising in the digital health market has been consistently active over the past 12 months, with 57 disclosed equity financings and $2.3568B of capital in the qualifying dataset. Deal flow averages 4.07 financings per month, while the median month contains 3.5 deals.

Dollar deployment is more uneven than the transaction count suggests. Average monthly capital is $168.34M and median monthly capital is $175.20M, but individual months range from no qualifying financings to $410M.

January 2026 was the largest month by capital at $410M, driven heavily by OpenEvidence's $250M round. October 2025 was the most active month by transaction count, with 10 deals totaling $338.5M.

November 2025 and April 2026 contain no qualifying financings in the revised corpus. This means the digital health market is active overall, but monthly momentum should not be interpreted as a smooth funding cadence.

For a broader view of where activity is accumulating across the market, see our Digital Health funding and market report.

How concentrated has fundraising been in the digital health market?

As of September 2026, fundraising in the digital health market is meaningfully concentrated but not dependent on one extraordinary transaction over the past 12 months. The largest financing represents 10.61% of total capital, the top three reach 22.06%, and the top five reach 30.55%.

The ten largest financings account for 48.03% of all disclosed capital. That means fewer than one-fifth of transactions determine almost half of the market's funding total.

OpenEvidence leads with $250M, followed by Grow Therapy at $150M and Candid Health at $120M. Nourish and Cadence each add $100M, while Thyme Care raised $97M and Pomelo Care raised $92M.

The concentration is important, but the remaining capital base is still substantial. More than half of market funding sits outside the ten largest rounds, so digital health is broader than a simple one- or two-company funding story.

How much of the digital health funding signal is driven by outliers?

As of September 2026, large financings drive a major share of the digital health funding signal over the past 12 months, but the market is not built exclusively on extreme outliers. Fifteen of 57 deals are strictly above $50M, representing 26.32% of transactions.

Removing every round strictly above $50M reduces disclosed capital from $2.3568B to $921.8M. Those 15 transactions therefore generate roughly 61% of all capital deployed.

Only three financings are strictly above $100M: OpenEvidence at $250M, Grow Therapy at $150M and Candid Health at $120M. Nourish and Cadence are exactly $100M and therefore do not enter that stricter bucket.

This distinction matters when reading market headlines. Digital health concentration is driven less by repeated $200M-plus financings than by a larger group of $50M-to-$100M scale-up rounds.

Is the digital health market broad with many targets, or narrow with few fundable companies?

As of September 2026, the digital health market is broad in company count but concentrated around a few dominant operating models over the past 12 months. The corpus contains 57 financings across 57 unique companies, so no repeat company fundraising inflates the transaction count.

The category distribution shows meaningful breadth. Clinical Workflow Software leads with 21 deals, Virtual Care Platforms has 17, Health Data Infrastructure has six, Remote Monitoring has five, and Care Navigation and Patient Engagement have four each.

At the same time, Clinical Workflow Software and Virtual Care Platforms together represent 38 of 57 financings, or 66.7% of the market. Their combined capital share is almost identical at approximately 66.6%.

This makes digital health broad at the company level but much narrower at the investment-thesis level. Most venture activity keeps returning to workflow automation and digitally delivered care.

Is digital health mostly an early-stage formation market or a late-stage scaling market?

As of September 2026, the digital health market combines a broad early-stage pipeline with a late-stage capital structure over the past 12 months. Seed and Series A generate 30 of 57 transactions but receive only $526.3M, or 22.33% of disclosed capital.

Later rounds from Series B through Series D+ and Growth Equity absorb $1.7484B, equal to 74.18% of total capital. Unknown-stage rounds account for the remaining $82.1M.

Series A alone represents 25 deals, or 43.86% of all transactions, but just 20.46% of capital. Series D+ is the mirror image: only five transactions absorb $687M, or 29.15% of all disclosed dollars.

The financing ladder is also unusually coherent. Median round size rises from $8.6M at Seed to $17M at Series A, $46M at Series B, $65M at Series C and $120M at Series D+.

For more detail on how maturity changes the opportunity set, see our Digital Health market analysis by funding stage.

How much of digital health fundraising is follow-on capital rather than first financing?

As of September 2026, digital health fundraising is overwhelmingly follow-on driven over the past 12 months. Only Attuned, OutcomesAI and XCaliber Health are identified as first disclosed institutional financings in the qualifying dataset.

That leaves approximately 54 of 57 transactions, or 94.7%, associated with companies that had already raised capital previously. Visible financing therefore rewards continued validation much more often than first-time institutional formation.

This does not mean new company creation has stopped. Instead, it means the disclosed financing market is dominated by businesses that can return to investors after establishing product, distribution, clinical, payer or provider traction.

The pattern is consistent with the stage split. More than half of transactions are still Seed or Series A, but most of those Series A companies are already follow-on fundraisers rather than first-time entrants.

Which categories attract the most investor attention in digital health?

As of September 2026, Clinical Workflow Software attracts the most investor attention in the digital health market over the past 12 months. It accounts for 21 of 57 financings and $888.4M, representing 36.84% of deals and 37.70% of capital.

Virtual Care Platforms rank second with 17 transactions and $682.4M. Together, workflow software and virtual care account for approximately two-thirds of both transaction volume and disclosed dollars.

Health Data Infrastructure ranks third by deal count with six financings, while Remote Monitoring has five. Care Navigation Platforms and Patient Engagement Tools each contain four financings.

The strength of workflow software is especially notable because it survives the stricter pure-play screen. Removing healthcare-delivery hybrids materially reduces virtual-care activity without dislodging workflow software as the market's largest category.

We examine these category-level themes more deeply in our Digital Health market report on investment themes.

Which categories attract disproportionately large checks in the digital health market?

As of September 2026, Care Navigation Platforms attract the most disproportionate capital relative to their transaction share in the digital health market over the past 12 months. Their capital-share-to-deal-share ratio is 1.16x.

Patient Engagement Tools follow at 1.11x, Remote Monitoring Solutions at 1.09x, Clinical Workflow Software at 1.02x and Virtual Care Platforms at 0.97x. Health Data Infrastructure trails at 0.75x.

Care Navigation's four transactions average $48M with a $40M median. Patient Engagement is even more striking on median size: its four rounds have a $47.5M median, the highest category median in the corpus.

Those figures should not be interpreted as broad category strength without context. Assort Health and Artera alone contribute $141M of Patient Engagement's $184M, while Cadence's $100M round represents 44.4% of Remote Monitoring capital.

Which geographies matter most for fundraising in the digital health market?

As of September 2026, North America overwhelmingly dominates digital health fundraising over the past 12 months. The region accounts for 52 of 57 financings and $2.2018B, equal to 91.23% of deals and 93.42% of capital.

North America's average financing is $42.34M and its median is $26M, essentially matching the overall market's $26M median. Its dominance therefore comes primarily from the number of funded companies rather than dramatically larger typical rounds.

Europe and Latin America each contribute two financings totaling $45M. Asia-Pacific contributes one financing, Heidi Health's $65M Series B.

No qualifying financings in the revised corpus come from the Middle East or Africa. The visible pure-play digital health financing market is therefore geographically much narrower than the technology's global healthcare relevance would imply.

For more geographic context, see our Digital Health market report covering regional activity.

Is the digital health opportunity set broad across regions or concentrated in one hub?

As of September 2026, the digital health opportunity set is highly concentrated in one geographic hub over the past 12 months. North America captures more than nine out of ten qualifying transactions and more than 93% of disclosed capital.

Europe's two qualifying rounds total $45M, exactly matching Latin America's two-round total. Neither region has enough activity in this pure-play corpus to form a broad financing pipeline comparable with North America.

Asia-Pacific contributes more capital than either Europe or Latin America, but only because its sole qualifying financing is Heidi Health's $65M round. One transaction cannot establish broad regional depth.

The concentration becomes more pronounced after excluding borderline technology-enabled healthcare providers and marketplaces. A stricter digital-health definition therefore changes the apparent geographic opportunity set as well as the category mix.

Is digital health a market of small experiments or scaled financings?

As of September 2026, the digital health market contains a substantial middle layer of financings rather than being dominated entirely by either small experiments or giant rounds over the past 12 months. The median disclosed financing is $26M and the average is $41.35M.

Twenty-one transactions fall between $5M and below $20M, while 19 fall between $20M and below $50M. Together, those two bands contain 40 of the 57 qualifying financings.

Seventeen rounds are $50M or larger. There are no qualifying disclosed financings below $5M because the smallest retained rounds in this corpus are already above that level.

The gap between the $26M median and $41.35M average shows the influence of larger rounds, but the market still has meaningful financing depth below megaround scale. This is not a market where aggregate activity disappears once the five largest deals are removed.

For a deeper view of funding sizes and concentration, explore our Digital Health funding market report.

Who are the investors that appear the most in digital health fundraising?

As of September 2026, Andreessen Horowitz is the most frequently recurring named investor in the qualifying digital health dataset over the past 12 months, appearing in at least three transactions: Counsel Health, Pomelo Care and Pearl Health.

General Catalyst appears in at least two financings through Commure and Cadence. Atomico and BoxGroup each appear in Pomelo Care and Nourish, while First Round Capital appears in Assort Health and Assured.

Tau Ventures appears in Cascala Health and AmplifyMD, while ENIAC Ventures appears in Cascala Health and Predoc. GV appears in Counsel Health and OpenEvidence.

These repeat counts should be treated as conservative rather than exhaustive. Financing announcements often name only the lead investor or a partial syndicate, so absence from the repeat ranking does not necessarily mean an investor participated only once.

Individual investor dollar commitments are also not disclosed consistently. A round's total size should therefore never be treated as the amount personally invested by every named participant.

Who is the author of this content?

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