5.24.21
4 min. read

Only $400 million in health tech funding. New puzzle.

Issue 029

Welcome back to E&O Mondays, the free newsletter from Exits & Outcomes that features the world’s most complete weekly health tech funding round-up.

 E&O Mondays.

In this issue:

  • This past week’s round-up includes less than $400 million in health tech funding as the summer slump continues.
  • Also: I switched it up. Instead of trivia this week there’s a kind of new Health Tech Puzzle. Let me know what you think of it?
  • Finally, if you’re new to E&O Mondays, this free newsletter isn’t much like the ones I send Fridays and every other Wednesday (or the long-form research reports). Yea, yea, it’s great and all, but you’re really missing out if you only read this funding list each week. So, consider becoming a full-fledged subscriber of E&O by clicking right here…

 

Last week: $400 million in health tech funding.

Here’s what I found for health tech funding this past week. Incredibly, we didn’t even hit $400 million this week after week-after-week of $1 billion+ round-ups.

If you see a * in front of the funding news below, that means E&O reported first. (It also means the company may end up announcing a larger amount of money once the round closes and the funding is official.)

As always, I simplified this list to remove funding verb-choice bias. (“Company X grabbed $5 million in funding.”) If you’re missing the full sentence structure, however, please assume that most of these companies “reaped” their latest round of funding, (but also know that I strongly believe one of them “scraped together” their funding). I used companies’ Twitter descriptions or press release one-liners instead of trying to deciphering what they do myself. As expected, the results were mixed:

$165 million – PathAI – Series C. Leads: D1 Capital Partners and Kaiser Permanente. “provider of artificial intelligence-powered technology for pathology” Release

$50 million – Wheel – Series B. Lead: Lightspeed Ventures. “Makes it simple for companies to build virtual care services under their brand by pairing technology with a nationwide clinician network.” Release

$30 million – Heru – Series A. Lead: D1 Capital Partners. “Developer of wearable AI-powered vision diagnostics and augmentation software.” Release

$30 million – Cynerio – Series B. Lead: ALIVE Israel HealthTech Fund. “Provider of Healthcare IoT cybersecurity and asset management solutions.” Release

$25 million – SymphonyRM – Series B. Lead: TT Capital Partners. “Helping health systems transform how they acquire, engage, and retain patients.” Release

$21.5 million – Artificial – Series A. Lead: M12 (Microsoft). “Software company providing a first-of-its-kind lab automation platform.” Release

$10 million – Healios – Series A. Lead: InHealth Ventures. “Reimagining how children, young people and adults access mental health and neurodevelopmental services with technology and clinical expertise.” TechCrunch

$7 million – AcuityMD – Lead: Benchmark. “Platform for commercializing and improving medical devices with data.” Release

$6.2 million – emocha Health – Series A. Lead: Claritas Health Ventures. “Digital adherence service to radically improve medication adherence, patient outcomes, and reduce the cost of care.” Release

$5.5 million – Wysa – Series A. Lead: W Health Ventures. “Digital mental health app … anonymous, safe, and free.” Release

* $5.1 million – Pebble Health – Investor: XYZ Ventures. This one is still relatively quiet, but it does have a simple landing page up here. “Pebble Health is a startup that is broadening healthcare access for small and medium businesses through innovative health insurance products.” Its trademark filing has a wide array of tech-enabled health services listed running the gamut from virtual care and appointment scheduling to comparing and buying health plans for an employee population. (No relation to the Pebble smartwatch crew.)

$5 million – MindPortal – Seed. Lead: Learn Capital. “Creators of the next personal computer that is a wearable non-invasive brain-computer interface.” Release

$4.5 million – Rhithm – Series: Seed. Lead: Reach Capital. “Empowering Education Institutions to build world-class, data-oriented SEL & Mental Health programs, overnight.” Blog

$4 million – Docbot – Series A. Lead: Khosla Ventures. “Artificial intelligence (AI) technology company focusing on gastrointestinal (GI) disease.” Release

$4 million – Healthstore – Series A. Lead: Undisclosed. “Focused on redefining customer experiences and personalization in eHealthcare through a vertically integrated Rx platform” Release

* $3.7 million in equity and other securities – 9amHealth – Here’s another stealthy one, but it, too, has a simple landing page site up. This is a new startup from some of the founders of diabetes-focused digital health company mySugr, which Roche ended up acquiring. 9am promises to provide healthcare on “your schedule”. “9am redesigns healthcare from the ground up, providing doctors, labs and medication for people who have a life.”

* $2.5 million – Medefy Health – “Engage modern employees with their benefits using modern methods” Site

* Undisclosed – Human Diagnosis Project – No other details, but DCVC just added this venture to its portfolio. “Human Diagnosis Project is a worldwide effort to map any health problem to its possible diagnoses.” Site

Health Tech Rebus Puzzle

OK, let’s try something new. How to play: This kind of puzzle is called a Rebus. Write down or think of the word for what’s pictured in each box as a starting point. Then swap letters (if you see =), or remove letters (when you see -), or add letters (when you see +) at the beginning, middle, or end of the words as noted. Then sound it out. Hint: This is a phrase we started to hear often in health tech circles… maybe starting seven years ago or so. Hit reply if you get it… 

That’s a wrap on E&O Mondays 029.
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