StartUp Health Insights: Beijing-Based Waterdrop Raises $150M to Expand Healthcare Crowdfunding Platform | Week of Nov 25, 2020
This week saw significant raises for insurance tech and multiple telemedicine and mental health-focused companies.
We saw over $450M in health innovation funding this week, led by Waterdrop. The Beijing-based insurance tech firm raised another $150M from Tencent to fund its expansion in healthcare crowdfunding. <source>
Other recent deals included:
Medable, a Palo Alto-based telemedicine trial platform, raised $91M led by Sapphire Ventures, with participation from GSR Ventures, PPD, and Streamlined Ventures. <source>
Spring Health, a New York-based provider of behavioral health benefits, raised $76M led by Tiger Global, with participation from GingerBread Capital, Operator Partners, Northzone, Rethink Impact, William K. Warren Foundation, Work-Bench, SemperVirens, Able Partners, True Capital, Kyle Lowry, and Breanna Stewart. <source>
K Health, a New York-based company that provides patients remote access to healthcare services through their smartphones, raised $42M led by Valor Equity Partners, with participation from Marcy Venture Partners, Atreides Management, PICO Venture Partners, 14W, and Max Ventures. <source>
Headway, a New York-based company that helps people search for and engage therapists who accept insurance, raised $26M co-led by Thrive and GV, with participation from Accel, GFC, and IA Ventures. <source>
WithMe Health, a medication guidance company, raised $20M led by OMERS Ventures, with participation from Oak HC/FT, Section 32, Shulman Ventures, and MTS Ventures. <source>
Sofia, a Mexico City-based healthtech startup that will provide access to a complete healthcare experience enabled by technology, raised $19M led by Index Ventures. <source>
ClosedLoop.ai, an Austin-based data science platform for healthcare organizations, raised $11M co-led by Greycroft and .406 Ventures, with participation from Silicon Valley Bank and Meridian Street Capital. <source>
Paceline, a San Francisco-based health and wellness platform that rewards physical activity with financial benefits, raised $5M co-led by Montage Ventures and Propel Venture Partners, with participation from Northwestern Mutual and Mark McCombe. <source>
Outcomes4Me, a Cambridge, MA-based developer of a mobile app and platform to navigate cancer treatment and care, raised $4.7M led by Asset Management Ventures, with participation from Sierra Ventures, Merstal Ltd. and others, plus federal funds from the National Cancer Institute. <source>
Joon Care, a Seattle-based remote therapy service for teens and young adults, raised $3.5M led by Route 66 Ventures, with participation from PSL Ventures, Vulcan Capital, and angels. <source>
Aya Payments, a Toronto-based payments solution and program administration for employee benefits, raised C$3.7M ($2.9M) led by MaRS Investment Accelerator Fund and Luge Capital, with participation from Anthemis Group, BDC Capital, StandUp Ventures, and angels. <source>
Data is from StartUp Health Insights, the most comprehensive funding database for health innovation. Get all our free quarterly reports.
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