Digital Health Funding Tracker (773 deals)

Our funding tracker covering the digital health market

Below is the table listing all the deals. You may find our methodology at the end of this page.

And, if you want to gain a deeper understanding of the market and its current dynamics, get our report covering the Digital Health Market.

Is digital health funding actually strong right now?

Digital health funding is strong right now, but the $28 million average round gives a distorted picture of what most companies are actually raising.

We tracked 773 financings across 677 companies between January 2024 and September 2026. A usable deal amount is available for 679 of those rounds, representing 87.8% of the market we identified. Those disclosed financings add up to $19.02 billion.

The more useful benchmark for an ordinary company is the $13 million median round. The average sits at $28 million because large financings pull it sharply upward.

Recent market research points in the same direction. Rock Health, using its narrower definition of U.S. digital health, reported $4 billion across 110 deals in Q1 2026, with 59% of the capital going into only 12 rounds of at least $100 million. Its market definition differs from ours, so the totals should not be compared directly. The pattern is more useful: digital health has plenty of capital, but investors are concentrating a large share of it on companies that have already broken away from the pack.

Are a few digital health mega-rounds doing all the work?

Digital health mega-rounds are doing a lot of the work, although there is still a substantial funding market below them.

Only 89 financings in our dataset exceeded $50 million. That is 11.5% of all deals, yet they captured 54.7% of disclosed capital. Removing those rounds brings the market down from $19.02 billion to $8.61 billion.

The concentration is spread across dozens of large rounds rather than one superstar financing. The largest single round accounts for 3.7% of capital, the top five for 9.9%, and the top ten for 16%.

That still leaves a real lower and middle market in digital health. The headline total simply starts climbing much faster once companies reach the stage where investors are comfortable writing $50 million, $100 million or several hundred million dollars at a time.

Deal size	Deals	Share of known-size deals	Capital	Share of disclosed capital
Below $5M	147	21.6%	$412M	2.2%
$5M to below $20M	280	41.2%	$3.04B	16.0%
$20M to below $50M	148	21.8%	$4.41B	23.2%
$50M to below $100M	60	8.8%	$3.77B	19.8%
$100M+	44	6.5%	$7.39B	38.9%
Amount undisclosed	94	-	-	-
All financings	773	-	$19.02B disclosed	100%

How many digital health companies are actually getting funded?

Digital health funding reaches a wide company base: we found 677 companies, and 595 of them appear only once during the full research window.

Another 71 companies raised twice and only 11 appear three or more times.

Nearly 88% of companies therefore have only one visible financing during more than two and a half years of activity. A single appearance does not mean a company stalled: some raised before our starting point, some will raise after it, and fundraising cycles can easily take several years. Still, rapid repeat fundraising is clearly unusual.

The companies with only one financing also account for roughly $10.61 billion of disclosed capital. Companies appearing multiple times account for about $8.40 billion. So a surprisingly large part of the money is going into businesses that show up once in the window, sometimes with a very substantial round.

Who has raised the most money in digital health?

Neko Health raised more money than any other digital health company in our window, while the top ten companies together still account for less than a quarter of disclosed capital.

Neko reached $960 million across two financings. OpenEvidence raised $735 million across four, and Abridge raised $700 million across three.

Those companies are scaling very different businesses. Neko is funding proprietary diagnostic technology, clinical operations and physical expansion. Abridge has moved well beyond basic ambient documentation into a broader clinical intelligence platform. Function Health is combining diagnostics, imaging and longitudinal health data. Truveta is building a huge clinical and genomic data asset.

Neko also offers a useful reality check on what a huge digital health round can finance. Its $700 million Series C supports expansion of a model that combines proprietary hardware, clinicians and physical locations. Shortly before the end of our research window, the company published real-world findings covering more than 80,000 members in the UK and Sweden.

Abridge gives us a different kind of scale. The company now says more than 300 enterprise health systems representing over 250 million patients have adopted its technology. That kind of institutional reach helps explain why a clinical software business can absorb hundreds of millions of dollars.

Company	Capital raised in window	Financings
Neko Health	$960M	2
OpenEvidence	$735M	4
Abridge	$700M	3
Function Health	$351M	2
Truveta	$320M	1
Ambience Healthcare	$313M	2
Forus	$310M	2
Hippocratic AI	$284M	3
Aidoc	$260M	2
Grow Therapy	$238M	2

What does a normal digital health funding round look like today?

A normal digital health round today is a low-double-digit-million financing, with $13 million sitting at the middle of the market.

Almost 63% of financings with a known amount are below $20 million. The largest bucket by far is $5 million to below $20 million, with 280 deals. Another 147 come in below $5 million.

The stage of the company changes the answer quickly. Seed financings have a $4 million median. Series A reaches $14.75 million, Series B $31 million and Series C $57.5 million.

Founders reading about $100 million rounds every week should keep that base rate in mind. Those deals get attention because they are unusual. Most digital health companies are still raising checks in the single-digit or low-double-digit millions.

Which digital health categories are getting serious money right now?

Clinical Workflow Software is currently the deepest pool of digital health funding, while Health Data Infrastructure and Remote Monitoring attract unusually large checks relative to their deal counts.

Clinical Workflow produced 281 financings and $7.43 billion in capital. It leads the market on both measures.

Virtual Care is the second-largest category by deal count, with 182 financings and $3.89 billion. Remote Monitoring has only 97 deals but reaches $2.70 billion, helped heavily by Neko Health.

Health Data Infrastructure stands out in a different way. It has just 55 financings, yet its median round is $17.75 million, the highest among the six categories. Its share of capital is also larger than its share of deals.

Patient Engagement sits at the other end. It generates plenty of activity, with 84 financings, but its $8.4 million median round is the smallest of the six categories.

Category	Deals	Capital	Median round	Funding intensity
Clinical Workflow Software	281	$7.43B	$15.0M	1.08x
Virtual Care Platforms	182	$3.89B	$12.25M	0.87x
Remote Monitoring Solutions	97	$2.70B	$12.2M	1.13x
Patient Engagement Tools	84	$1.42B	$8.4M	0.69x
Care Navigation Platforms	74	$1.93B	$14.0M	1.06x
Health Data Infrastructure	55	$1.64B	$17.75M	1.21x
Full market	773	$19.02B	$13.0M	1.00x

Why is clinical workflow getting so much digital health funding?

Clinical Workflow is pulling in big digital health checks because the category is expanding from documentation tools into software that sits inside core health-system operations.

Abridge is the clearest example. Its $300 million Series E was announced when the company was already working with more than 150 enterprise health systems. Since then, the company has pushed further into decision support, coding, revenue-cycle work and other workflows connected directly to the patient record. As of now, Abridge says its platform is present across more than 300 enterprise health systems.

Ambience Healthcare is moving along a similar path. The company raised a $243 million Series C to scale an AI platform spanning documentation, coding and clinical documentation integrity. More recently, Ambience introduced a commercial model where some fees are tied to measurable health-system outcomes, with teams working directly inside customer organizations.

Aidoc is another version of the same story. Its $150 million Series E in 2026 is financing a broader clinical AI platform and foundation model rather than a single radiology tool.

The bet is getting bigger. A company selling one useful feature can build a good business. A company embedded in clinical workflows, coding, reimbursement and decision-making can become infrastructure for an entire health system, and investors are funding that ambition accordingly.

Why does health data infrastructure need such big checks?

Health Data Infrastructure needs larger checks because some companies are building expensive data and research assets alongside the software itself.

The strongest example in our dataset is Truveta. Seventeen health systems, Illumina and Regeneron backed a $320 million preferred-equity financing tied to the Truveta Genome Project.

The first phase involves sequencing up to ten million exomes and connecting genomic information with clinical data. Regeneron alone committed $119.5 million upfront, while Illumina invested $20 million.

Projects at that scale require much more than an application layer. They involve health-system integrations, patient consent, genomic sequencing, storage, normalization, security, scientific infrastructure and the work needed to make enormous datasets useful.

That helps explain why this relatively small category can support some of the market's largest financings. There are fewer companies, but the strongest ones are trying to build assets that are expensive to replicate.

Is Remote Monitoring funding really as strong as it looks?

Remote Monitoring funding is strong, although Neko Health alone explains 25.9% of the category's capital through its $700 million Series C.

That single financing has an enormous effect on a category with $2.70 billion of total disclosed funding. Across two rounds, Neko raised $960 million during our research window.

The money is financing a capital-heavy model. Neko combines proprietary scanning technology, software, clinical research, clinicians and physical health centers. Its Series C also supports expansion into the United States.

The company's recent operating data gives that financing more context. Neko has already scanned tens of thousands of members at physical locations, and the company has been opening additional sites while preparing its U.S. rollout.

Remote Monitoring covers businesses with very different capital needs. A pure software monitoring platform can scale with relatively little physical infrastructure. A company building scanners and clinics cannot. Neko pushes the category heavily toward that second model, which makes the headline funding total look especially large.

How far along are digital health startups when the big checks arrive?

Big digital health checks usually arrive after investors have watched the company mature for several years.

The median company in our age analysis is four years old when it raises. Companies receiving rounds below $5 million have a median age of three years, while companies raising more than $50 million are typically around six years old.

The progression by stage is even clearer. Seed companies are around two years old at financing. The median reaches four years at Series A, six at Series B and seven at Series C.

Funding size climbs at the same time. The median goes from $4 million at Seed to $14.75 million at Series A, $31 million at Series B, $57.5 million at Series C and $100 million at Series D+.

Remote Monitoring takes longer than the other categories, with a median company age of 6.5 years at financing. Hardware, regulatory work, clinical validation and physical deployment can all stretch the path before investors become comfortable writing a very large check.

Stage	Deals	Capital	Median round	Median company age
Seed	253	$1.13B	$4.0M	2 years
Series A	225	$3.59B	$14.75M	4 years
Series B	107	$4.46B	$31.0M	6 years
Series C	53	$4.71B	$57.5M	7 years
Series D+	31	$3.25B	$100M	7 years
Growth Equity	22	$999M	$47.0M	9 years
Unknown stage	82	$883M	$8.0M	-

Where does digital health funding get really hard?

Series B is where digital health funding gets really hard: the number of rounds falls by more than half after Series A.

We found 225 Series A financings and only 107 Series B rounds. The number then falls again to 53 Series C financings and 31 Series D+ rounds.

These are pooled market counts rather than a cohort conversion rate, so we should not read them as "53 out of every 225 companies make it to Series C." Companies in those groups were founded in different years and raised on different schedules.

Still, the narrowing is hard to miss. Digital health produces plenty of Seed and Series A companies. By Series B, investors are choosing from a much smaller field.

The standard has also changed. A Series B company usually needs more than a promising product and a few enthusiastic customers. Investors increasingly want proof that large healthcare organizations will buy, deploy and keep using the product, and that the company can survive the long sales cycles, integrations and operational complexity that come with healthcare.

Some later-stage rounds show what that money is paying for. Function Health's $298 million Series B supports a much broader diagnostics and medical-intelligence platform. Hippocratic AI said its $126 million Series C would finance product development, international expansion and acquisitions. By this point, the checks are funding scale rather than experimentation.

Is digital health funding mostly going to new startups?

Digital health money is mostly backing companies that have already raised before.

First financings account for 185 deals, or 23.9% of the market. Follow-on financings account for 587.

The dollar difference is much larger. First financings represent about $1.28 billion of disclosed capital, while follow-ons account for roughly $17.74 billion.

Check sizes follow the same pattern. The median first financing is $4.5 million. The median follow-on is $17 million.

Our financing-status research is directional because reconstructing every historical round for hundreds of companies is inherently harder than identifying financings inside the research window. Even allowing for that limitation, the gap is large.

Digital health is currently much more active as a market for scaling previously funded companies than as a market for handing out first institutional checks.

How global is digital health funding really?

Digital health startups are getting funded around the world, but deep scale capital is still overwhelmingly North American.

North America generated 528 financings, or 68.3% of all deals, and captured 79.7% of disclosed capital. The United States alone accounts for 515 financings and about $15.06 billion.

Europe has meaningful breadth, with 176 deals, but only 15.8% of capital. Its median round is $11 million compared with $14.5 million in North America.

The difference becomes much sharper beyond those two regions. Asia-Pacific has 48 deals and $636 million. The Middle East, Latin America and Africa have very small funding pools by comparison.

We also found no financing above $50 million in Africa, Latin America or the Middle East during the research window. That gap is striking when large checks are doing so much of the work elsewhere in the market.

The geography of digital health is broader at startup level than at scale-up level. Founders can build companies almost anywhere; access to $50 million-plus private rounds remains concentrated in a much smaller set of capital markets.

Region	Deals	Share of deals	Capital	Median round
North America	528	68.3%	$15.16B	$14.5M
Europe	176	22.8%	$3.01B	$11.0M
Asia-Pacific	48	6.2%	$636M	$5.2M
Middle East	12	1.6%	$121M	$4.5M
Latin America	6	0.8%	$70M	$8.4M
Africa	3	0.4%	$13M	$1.6M
United States alone	515	66.6%	$15.06B	-

Which investors keep showing up in digital health?

Digital health has a repeat-investor core, yet even the most active firms appear on only a small share of all financings.

We identified lead or co-lead investors for 657 deals. Across those financings, there are 587 different lead-investor names, and 130 appear more than once.

General Catalyst is the most frequent lead or co-lead in the dataset with 13 deals. Andreessen Horowitz follows with 11, Transformation Capital with nine and Lightspeed Venture Partners with eight.

Deals involving at least one recurring lead account for roughly half of financings where a lead was disclosed. There is clearly a central network of investors who know the space and keep coming back.

The long tail is still huge. Digital health financing is spread across specialist healthcare funds, major multi-stage venture firms, growth investors, corporates and hundreds of firms that appear only once.

Lead investor	Deals led or co-led	Combined size of those rounds
General Catalyst	13	$516.5M
Andreessen Horowitz	11	$842M
Transformation Capital	9	$314.5M
Lightspeed Venture Partners	8	$1.28B
Flare Capital Partners	7	$89.4M
Khosla Ventures	7	$147.3M
Oak HC/FT	6	$533.5M
Bain Capital Ventures	6	$234.1M
Kleiner Perkins	5	$574M
Insight Partners	5	$263M

Do strategic investors actually matter in digital health?

Strategic investors matter in digital health because their deals are larger and their value often extends into distribution, customers and deployment.

We found a strategic investor in 182 financings, or 23.5% of the market. The median deal involving a strategic investor is $20 million, compared with $11.4 million when no strategic investor is present.

CVS Health Ventures appears on 15 financings in our research, Optum Ventures on 12 and UPMC Enterprises on eight. Memorial Hermann, Intermountain, Kaiser Permanente, Mayo Clinic and McKesson also appear repeatedly.

Those names help explain why strategic capital can be especially useful in healthcare. CVS Health Ventures currently says more than 70% of its portfolio companies have established business relationships with CVS Health. Optum Ventures describes its model around access to health plans, providers, employers and patients alongside commercialization expertise.

The relationship between strategic participation and larger checks does not prove that strategic investors cause companies to raise more money. Bigger and more mature companies naturally attract them more often. What the data does show is that corporate and health-system investors are deeply embedded in the funding market.

The commercial side is becoming more explicit too. Ambience Healthcare recently introduced outcome-linked contracts and forward-deployed teams inside health systems. A partner that can help a startup get through procurement, implementation and real clinical workflows can be worth much more than the capital alone.

Where does digital health funding visibly run out?

Digital health funding gets thin when a company needs institutional-scale capital without already having strong commercial proof.

Several parts of the market point to the same pressure point. The funding ladder narrows sharply after Series A. Most companies appear only once in our window. Large financings become much rarer outside North America and Europe. Strategic investors also concentrate more heavily around companies that have already achieved enough maturity to become useful commercial partners.

The missing data adds another clue. Ninety-four financings have no usable disclosed amount, and 51 of them are Seed rounds. The least transparent part of the market is also the earliest one. Small early financings are probably somewhat more common than the disclosed-dollar data alone suggests.

For a founder, the difficult jump is from "we have something interesting" to "large healthcare organizations are buying this, deploying it and getting enough value to expand it."

Once that proof exists, the market can produce very large checks. Before it exists, capital is available, but the check sizes and investor pool are far more limited.

What should we actually take away from the funding data?

Digital health is a large and genuinely broad private funding market. Hundreds of companies raised during the research window, across software, virtual care, monitoring, navigation, engagement and health-data infrastructure.

The big money sits much higher up the ladder than the deal count suggests. Early-stage companies create most of the activity, while companies that have already proved enough to raise B, C and later rounds absorb a far larger share of the dollars.

Clinical Workflow has become the clearest center of gravity. Current product development at Abridge, Ambience and Aidoc shows why: these companies are trying to become part of the operating layer of healthcare rather than selling one isolated AI feature.

Capital intensity also depends heavily on what has to be built. Truveta needs major investment to create genomic and clinical data infrastructure. Neko needs capital for proprietary hardware and physical clinics. Those businesses naturally support a different financing profile from lighter software products.

Strategic investors are now part of the machinery of digital health funding. Health systems, payers and healthcare corporates can bring customers, infrastructure, distribution and implementation support alongside money.

The weakest part of the market is the middle of the funnel. Plenty of companies get started. Far fewer reach the point where investors are comfortable financing them at institutional scale. For now, that transition is the clearest dividing line between the broad digital health startup market and the much smaller group absorbing serious capital.