Top 100 Medical Device Startups with Most Money Raised in 2020

The first half of 2020 brought record-breaking investment totals for health care companies, according to Silicon Valley Bank’s mid-year report.

As venture capitalists continue to invest heavily in medical technology, the pressure to innovate will only increase.

 

How We Researched the top 100 Medical Device Companies

The list uses data from Crunchbase, Angel List, and CB Insights and is ordered by total money raised. This overview provides a big-picture view of the medical device industry in 2020. Learn where innovations are coming from, what kinds of devices are taking off, and which markets are the most and least crowded.

Keep up with the evolving industry by reviewing this list of 100 medical device startups that raised the most money in 2020:

 

COMPANY NAME YEAR FOUNDED TOTAL RAISED LAST ROUND AMOUNT LAST ROUND DATE NUMBER OF EMPLOYEES

Tempus

2015

$620M (USD)

$100M (USD)

3/13/2020

501 - 1,000

Freenome

2014

$507.6M (USD)

$270M (USD)

8/26/2020

51 - 200

Recursion

2013

$465.4M (USD)

$239M (USD)

9/10/2020

51 - 200

CMR Surgical

2014

$384.8M (USD)

$240M (USD)

9/17/2019

51 - 200

AbCellera Biologics

2012

$296.2M (USD)

$105M (USD)

5/27/2020

51 - 200

Lyra

2015

$288.1M (USD)

$110M (USD)

8/25/2020

51 - 200

DNAnexus

2009

$272.6M (USD)

$100M (USD)

6/9/2020

51 - 200

Capsule

2016

$270M (USD)

$200M (USD)

9/16/2019

201 - 500

Doctolib

2013

$266.7M (USD)

$170M (USD)

3/19/2019

1,001 - 5,000

Omada Health

2011

$256.5M (USD)

$57M (USD)

5/19/2020

201 - 500

Karius

2014

$254M (USD)

$165M (USD)

2/24/2020

51 - 200

SOPHiA GENETICS

2011

$250.2M (USD)

$110M (USD)

10/1/2020

201 - 500

Insitro

2018

$243M (USD)

$143M (USD)

5/26/2020

51 - 200

Sema4

2017

$241M (USD)

$121M (USD)

7/29/2020

501 - 1,000

Oyster Point Pharma

2015

$235.8M (USD)

$120.8M (USD)

5/19/2020

11 - 50

Doctor On Demand

2013

$235.7M (USD)

$75M (USD)

7/8/2020

201 - 500

Olive

2012

$230.8M (USD)

$106M (USD)

9/17/2020

201 - 500

DispatchHealth

2013

$203.2M (USD)

$135.8M (USD)

6/23/2020

201 - 500

Aledade

2014

$194.9M (USD)

$64M (USD)

4/20/2020

51 - 200

Cue Health

2010

$183.6M (USD)

$100M (USD)

6/10/2020

51 - 200

Element Science

2013

$183.1M (USD)

$145.6M (USD)

3/3/2020

11 - 50

Atomwise

2012

$176.6M (USD)

$123M (USD)

8/11/2020

51 - 200

Virta

2014

$175M (USD)

$93M (USD)

1/10/2020

201 - 500

Heal

2014

$171.1M (USD)

$100M (USD)

7/29/2020

51 - 200

Mindstrong

2014

$160M (USD)

$100M (USD)

5/21/2020

51 - 200

Quartet Health

2014

$159.5M (USD)

$67.5M(USD)

12/2/2019

201 - 500

Mojo Vision

2015

$159M (USD)

$51M (USD)

4/29/2020

51 - 200

Acufocus

2001

$152M (USD)

$66M (USD)

9/9/2016

11 - 50

Sera Prognostics

2008

$150.3M (USD)

$36M (USD)

11/13/2019

51 - 200

Bigfoot Biomedical

2014

$147.6M (USD)

$55M (USD)

6/3/2020

51 - 200

Science 37

2014

$147.5M (USD)

$40M (USD)

8/20/2020

51 - 200

Biofourmis

2015

$143.6M (USD)

$100M (USD)

9/3/2020

51 - 200

Akili Interactive Labs

2011

$140.9M (USD)

$68M (USD)

8/9/2018

51 - 200

Verana Health

2018

$138.8M (USD)

$100M (USD)

2/5/2020

51 - 200

Pear Therapeutics

2013

$134M (USD)

$64M (USD)

1/4/2019

51 - 200

98point6

2015

$129.4M (USD)

$43M (USD)

4/3/2020

51 - 200

Hinge Health

2015

$126.1M (USD)

$90M (USD)

2/4/2020

201 - 500

Innovaccer

2014

$124.1M (USD)

$70M (USD)

2/14/2020

501 - 1,000

Neocis

2012

$122.9M (USD)

$72M (USD)

10/8/2020

51 - 200

TruePill

2016

$113.4M (USD)

$25M (USD)

7/8/2020

201 - 500

LetsGetChecked

2014

$113M (USD)

$71M (USD)

5/6/2020

201 - 500

LeanTaaS

2010

$107.7M (USD)

$40M (USD)

12/19/2019

51 - 200

TytoCare

2011

$106.7M (USD)

$50M (USD)

4/7/2020

51 - 200

Evidation Health

2012

$106M (USD)

$45M (USD)

7/5/2020

51 - 200

TriNetX

2013

$102M (USD)

$40M (USD)

3/13/2019

51 - 200

Paige

2018

$95M (USD)

$70M (USD)

7/13/2020

11 - 50

Aetion

2012

$93.6M (USD)

$82M (USD)

8/26/2020

51 - 200

PathAI

2016

$90.2M (USD)

$75M (USD)

11/4/2019

51 - 200

Healthy.io

2013

$90M (USD)

$60M (USD)

9/12/2019

51 - 200

Maven

2014

$88M (USD)

$45M (USD)

2/19/2020

51 - 200

Exo

2015

$87.6M (USD)

$40M (USD)

8/20/2020

51 - 200

Viz.ai

2016

$80.6M (USD)

$50M (USD)

10/23/2019

51 - 200

Ivantis

2007

$77M (USD)

$25M (USD)

1/9/2017

51 - 200

Oura

2013

$76.5M (USD)

$28M (USD)

3/17/2020

51 - 200

Owkin

2016

$74.1M (USD)

$70M (USD)

6/30/2020

51 - 200

nference

2015

$74M (USD)

$60M (USD)

1/8/2020

201 - 500

Carbon Health

2015

$72.5M (USD)

$28M (USD)

5/12/2020

201 - 500

Arterys

2016

$71.7M (USD)

$28M (USD)

5/29/2020

51 - 200

Cala Health

2014

$71.3M (USD)

$50M (USD)

5/21/2019

11 - 50

Mammoth Biosciences

2017

$68.1M (USD)

$45M (USD)

1/30/2020

11 - 50

Celcius Therapeutics

2018

$65M (USD)

$65M (USD)

5/15/2018

11 - 50

BrightInsight

2017

$65M (USD)

$40M (USD)

6/23/2020

51 - 200

Kindbody

2018

$63.3M (USD)

$32M (USD)

7/8/2020

51 - 200

Caption Health

2013

$60.9M (USD)

$53M (USD)

7/15/2020

11 - 50

Genome Medical

2016

$60.7M (USD)

$37M (USD)

7/1/2020

51 - 200

Zebra Medical Vision

2014

$57.4M (USD)

$30M (USD)

6/7/2018

51 - 200

Dreem

2014

$57M (USD)

$35M (USD)

6/26/2018

51 - 200

Whisper

2017

$53M (USD)

$35M (USD)

10/15/2020

11 - 50

Redox

2014

$50M (USD)

$33M (USD)

4/17/2019

51 - 200

DrChrono

2009

$48.7M (USD)

$20M (USD)

1/13/2020

51 - 200

Kaia Health

2016

$48M (USD)

$26M (USD)

6/18/2020

51 - 200

Abacus Insights

2017

$47.4M (USD)

$35M (USD)

6/16/2020

51 - 200

Perpectum

2012

$46.7M (USD)

$36M (USD)

4/14/2020

201 - 500

Lunit

2013

$46.5M (USD)

$26M (USD)

1/9/2020

51 - 200

Unite Us

2013

$45.3M (USD)

$35M (USD)

3/21/2019

51 - 200

CureApp

2014

$39.9M (USD)

$20.3M (USD)

7/5/2019

51 - 200

Brightside

2017

$39.2M (USD)

$35.1M (USD)

6/16/2020

11 - 50

Pixium Vision

2011

$39.1M (USD)

$8.5M (USD)

7/15/2020

11 - 50

Eko

2013

$36.5M (USD)

$20M (USD)

9/25/2019

11 - 50

Salvia BioElectronics

2017

$34.6M (USD)

$31M (USD)

9/22/2020

11 - 50

Vim

2015

$34.6M (USD)

$24M (USD)

9/9/2019

51 - 200

CyberMDX

2016

$30M (USD)

$20M (USD)

4/7/2020

51 - 200

Bright.md

2014

$29.2M (USD)

$16.7M (USD)

5/27/2020

51 - 200

Xealth

2017

$28.5M (USD)

$6M (USD)

8/10/2020

11 - 50

Alpha Health

2018

$25M (USD)

$20M (USD)

6/10/2020

11 - 50

GYANT

2016

$22.8M (USD)

$13.6M (USD)

7/15/2020

11 - 50

Modern Fertility

2017

$22M (USD)

$15M (USD)

6/11/2019

11 - 50

icometrix

2011

$20.2M (USD)

$18M (USD)

5/14/2019

11 - 50

Twistle

2011

$19.8M (USD)

$16M (USD)

10/29/2019

11 - 50

Notable

2017

$19.2M (USD)

$13.5M (USD)

9/6/2018

51 - 200

Wellth

2014

$19.1M (USD)

$10M (USD)

5/7/2020

11 - 50

AllStripes Research (formerly RDMD)

2017

$17.1M (USD)

$14M (USD)

4/16/2020

11 - 50

Incredible Health

2017

$17M (USD)

$15M (USD)

9/12/2019

11 - 50

Qure AI

2016

$16M (USD)

$16M (USD)

2/26/2020

11 - 50

Osso VR

2016

$16M (USD)

$14M (USD)

9/22/2020

51 - 200

Firefly Health

2016

$12.2M (USD)

$10.2M (USD)

9/16/2019

11 - 50

Unlearn

2017

$12M (USD)

$12M (USD)

4/20/2020

11 - 50

SonarMD

2015

$10M (USD)

$10M (USD)

12/17/2018

11 - 50

Meru Health

2015

$13.3M (USD)

$8.1M (USD)

5/13/2020

51 - 200

Innovein

2015

$6.7M (USD)

$6.5M (USD)

7/3/2018

1 - 10

 

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Top 100 Medical Device Startups with Most Money Raised in 2020

 

Tempus

Year founded: 2015

Total money raised: $620M (USD)

Amount raised in last round: $100M (USD)

Announcement date of last round: March 13, 2020

Number of employees: 501-1,000

Website: www.tempus.com

Tempus is a Chicago-based AI-forward tech company. They operate one of the world’s largest libraries of accessible clinical and molecular data, which enables physicians to deliver personalized patient care. Their ultimate goal is for all patients to benefit from past treatments of people with similar health problems.

 

Freenome

Year founded: 2014

Total money raised: $507.6M (USD)

Amount raised in last round: $270M (USD)

Announcement date of last round: August 26, 2020

Number of employees: 51-200

Website: https://www.freenome.com/

Freenome is a San Francisco-based company that designs blood tests that can detect the early warning signs of cancer. Freenome uses artificial intelligence to analyze patterns across DNA, RNA, and proteins in blood. Physicians can detect cancer earlier and treat it more effectively, thanks to Freenome’s tests.

 

Recursion

Year founded: 2013

Total money raised: $465.4M (USD)

Amount raised in last round: $239M (USD)

Announcement date of last round: September 10, 2020

Number of employees: 51-200

Website: https://recursionpharma.com/

Recursion is developing a drug-discovery platform that promises to reengineer how physicians find the right medicines for their patients. Recursion takes what it calls a “target-agnostic” approach, meaning they let data—combined with machine learning—tell them what to target. The company stands out for its wet- and dry -ab experimentation.

 

CMR Surgical

Year founded: 2014

Total money raised: $384.8M (USD)

Amount raised in last round: $240M (USD)

Announcement date of last round: September 17, 2019

Number of employees: 51-200

Website: https://cmrsurgical.com/

CMR surgical, based in Cambridge, UK, is working on a surgical robotic system that enables minimal-access surgery. The less access required, the safer patients will be. CMR’s Versius robot is smaller and more versatile than competing robots. Luke Hares, a cofounder of CMR Surgical, has argued that the independent modular arms Versius has will help hospitals “keep it busy, making it economical to run.”

 

AbCellera Biologics

Year founded: 2012

Total money raised: $296.2M (USD)

Amount raised in last round: $105M (USD)

Announcement date of last round: May 27, 2020

Number of employees: 51-200

Website: https://www.abcellera.com/

AbCellera Biologics provides an antibody-discovery platform that improves therapeutic programs. The company combines proprietary immunizations, imaging, microfluidics, genomics, laboratory automation, and computation to develop new therapeutic antibodies. Armed with better immune profiling and disease research, health care researchers can then accelerate their work on diagnostic tests and vaccines.

 

Lyra

Year founded: 2015

Total money raised: $288.1M (USD)

Amount raised in last round: $110M (USD)

Announcement date of last round: August 25, 2020

Number of employees: 51-200

Website: https://www.lyrahealth.com/

Lyra is a platform that helps businesses find and use mental health care for their employees. Employees who sign up for Lyra can find personalized care and get matched with a provider that suits them. Lyra promises an evidence-based approach that, according to their research, leads to clinical improvements among 71% of their members.

 

DNAnexus

Year founded: 2009

Total money raised: $272.6M (USD)

Amount raised in last round: $100M (USD)

Announcement date of last round: June 9, 2020

Number of employees: 51-200

Website: https://www.dnanexus.com/

DNAnexus is a San Francisco-based team working on a cloud platform for scientific collaboration focused on genomics. Genomics is an essential part of discovering and developing innovative medicines, but companies using genomics require an environment that can manage huge amounts of data securely and compliantly.

DNAnexus provides that solution and combines the solution with a global network of shared datasets. After its biggest round of funding, CEO Richard Daly said, “The trend toward cloud-based data analysis and collaboration is accelerating, and we are at the right place at the right time to future-proof and serve our customers.”

 

Capsule

Year founded: 2016

Total money raised: $270M (USD)

Amount raised in last round: $200M (USD)

Announcement date of last round: September 16, 2019

Number of employees: 201-500

Website: https://capsule.com/

Capsule bills itself as a “new kind of pharmacy.” The goal is to design a pharmacy that’s driven by mobile technologies and is faster, more reliable, and more caring than traditional models. The company has developed features such as predictive inventory, which keeps pharmacies from running out of medications and equips them to fulfill patients’ needs better than traditional pharmacies.

 

Doctolib

Year founded: 2013

Total money raised: $266.7M (USD)

Amount raised in last round: $170M (USD)

Announcement date of last round: March 19, 2019

Number of employees: 1,001-5,000

Website: https://www.doctolib.fr/

Doctolib is a European company developing a booking platform for specialist physicians. When Doctolib began, in 2013, it focused on helping health practitioners seamlessly schedule appointments with patients. The company has since expanded and now works with entire hospitals. As of 2019, Doctolib had 75,000 practitioners and 1,400 health care facilities as users, according to TechCrunch.

 

Omada Health

Year founded: 2011

Total money raised: $256.5M (USD)

Amount raised in last round: $57M (USD)

Announcement date of last round: May 19, 2020

Number of employees: 201-500

Website: https://www.omadahealth.com/

Omada Health is a software company focused on people who have chronic conditions. The team uses digital care programs to support users as they pursue their health goals. The focus is currently on prevention, type 2 diabetes, hypertension, and behavioral health.

 

Karius

Year founded: 2014

Total money raised: $254M (USD)

Amount raised in last round: $165M (USD)

Announcement date of last round: February 24, 2020

Number of employees: 51-200

Website: https://kariusdx.com/

Karius develops noninvasive tests to help clinicians make informed, effective decisions about treatment. The Karius team uses genomic data and artificial intelligence from a single blood draw to understand a patient’s “microbial landscape.” Armed with better data, clinicians can make better decisions and save more lives—all pointing toward the Karius mission of eliminating infectious disease.

 

SOPHiA GENETICS

Year founded: 2011

Total money raised: $250.2M (USD)

Amount raised in last round: $110M (USD)

Announcement date of last round: October 1, 2020

Number of employees: 201-500

Website: https://www.sophiagenetics.com

SOPHiA GENETICS is a Boston-based biotechnology company working on an artificial-intelligence platform that supports health care professionals by transforming hard-to-parse medical data into useful insights. As of October 2020, 1,000 health care institutions were using the platform, and the platform had helped analyze 600,000 genomic profiles.

 

Insitro

Year founded: 2018

Total money raised: $243M (USD)

Amount raised in last round: $143M (USD)

Announcement date of last round: May 26, 2020

Number of employees: 51-200

Website: https://insitro.com/

Insitro is a San Francisco-based startup that provides a platform for predictive disease models that leverage vast troves of biological data. “Instead of relying on the limited existing ‘found’ data,” founder and CEO Daphne Koller writes, “[Insitro] leverage[s] the tools of modern biology to generate high-quality, large data sets optimized for machine learning.” Machine learning enables Insitro to parse this data and develop new drugs. Insitro is currently focusing on diseases that affect the liver and central nervous system.

 

Sema4

Year founded: 2017

Total money raised: $241M (USD)

Amount raised in last round: $121M (USD)

Announcement date of last round: July 29, 2020

Number of employees: 501-1,000

Website: https://sema4.com/

Sema4 provides an analytics tool called Centrellis, a health intelligence platform, to develop medical tests. Centrellis “analyzes and interprets extensive information about known inherited diseases.” That data informs the tests the company manufactures, including a prenatal blood test, a carrier screen, and a newborn screen.

 

Oyster Point Pharmaceuticals

Year founded: 2015

Total money raised: $235.8M (USD)

Amount raised in last round: $120.8M (USD)

Announcement date of last round: May 19, 2020

Number of employees: 11-50

Website: https://oysterpointrx.com/

Oyster Point Pharmaceuticals is a biopharmaceutical company working on therapies for ocular surface diseases. One of their star products is a nasal spray that treats the symptoms of dry eye disease. This product uses a “highly selective nicotinic acetylcholine receptors (nAChR) agonist,” an innovation that will inform future products.

 

Doctor On Demand

Year founded: 2013

Total money raised: $235.7M (USD)

Amount raised in last round: $75M (USD)

Announcement date of last round: July 8, 2020

Number of employees: 201-500

Website: https://www.doctorondemand.com/

Doctor On Demand is a US-based company working on a mobile app that offers telemedicine visits—both on-demand and scheduled—with health providers. The company takes a holistic approach by offering urgent care, behavioral health, preventive health, and chronic care. Reacting to the novel coronavirus epidemic, CEO Hill Ferguson said that telemedicine therapy, which previously seemed “substandard” to many people, now seems more practical as people learn that “much more can be treated virtually than was assumed before.”

 

Olive

Year founded: 2012

Total money raised: $230.8M (USD)

Amount raised in last round: $106M (USD)

Announcement date of last round: September 17, 2020

Number of employees: 201-500

Website: https://oliveai.com/

Olive developers process automation software that offers health care providers artificial intelligence for improving efficiency. The goal, which Olive CEO Sean Lane shared with Fierce Healthcare, is to empower health care workers to complete their jobs faster, smarter, and more efficiently. Lane said, “Olive Helps is like an ever-present companion that’s always sensing the needs of human workers and delivering valuable information tailored for the individual user and their environment."

 

DispatchHealth

Year founded: 2013

Total money raised: $203.2M (USD)

Amount raised in last round: $135.8M (USD)

Announcement date of last round: June 23, 2020

Number of employees: 201-500

Website: https://www.dispatchhealth.com/

DispatchHealth provides a mobile app that enables users to order in-home urgent care. The goal of the company is to provide on-demand health care at home, which reduces emergency-room visits and hospitalizations. Such care improves clinical outcomes for patients and reduces costs for the health care system as a whole.

 

Aledade

Year founded: 2014

Total money raised: $194.9M (USD)

Amount raised in last round: $64M (USD)

Announcement date of last round: April 20, 2020

Number of employees: 51-200

Website: https://www.aledade.com/

Aledade bills itself as a partner to independent physicians. The company provides a platform that offers “regulatory expertise, cutting edge technology, data analytics, business transformation services, [and] upfront capital” to help physicians do their jobs better. The team’s goal is to support the growth of Accountable Care Organizations, groups that help doctors remain both independent and successful.

 

Cue Health

Year founded: 2010

Total money raised: $183.6M (USD)

Amount raised in last round: $100M (USD)

Announcement date of last round: June 10, 2020

Number of employees: 51-200

Website: https://www.cuehealth.com/

Cue Health is a San Diego-based company that develops molecular tests that can deliver results in as little as 20 minutes. One device, the single-use Cue Cartridges, can convert test samples into digital results. In June 2020, the company received an emergency use authorization for a COVID-19 molecular test, and in October 2020, the United States Department of Health and Human Services and the Department of Defense awarded it $481 million.

 

Element Science

Year founded: 2013

Total money raised: $183.1M (USD)

Amount raised in last round: $145.6M (USD)

Announcement date of last round: March 3, 2020

Number of employees: 11-50

Website: https://www.elementscience.com/

Element Science is a San Francisco-based startup working on cutting-edge wearables. Their first product, not yet available commercially in the United States, is a cardioverter defibrillator. The wearable, designed as a patch, monitors the user’s heart throughout the day and is designed to be discreet and comfortable.

 

Atomwise

Year founded: 2012

Total money raised: $176.6M (USD)

Amount raised in last round: $123M (USD)

Announcement date of last round: August 11, 2020

Number of employees: 51-200

Website: https://www.atomwise.com/

Atomwise is developing AtomNet, a deep learning neural network that enables more effective drug design and discovery. The goal is to better predict small molecule binding affinity, which predicts the kinds of drugs that will be most effective in treating patient conditions. After their 2020 round of funding, cofounder and CEO Abraham Heifets said, “Over the past three years, our platform AtomNet has tackled — and succeeded — in finding small molecule hits for more undruggable targets than any other AI drug discovery platform.”

 

Virta

Year founded: 2014

Total money raised: $175M (USD)

Amount raised in last round: $93M (USD)

Announcement date of last round: January 10, 2020

Number of employees: 201-500

Website: https://www.virtahealth.com/

Virta is a mission-based startup with the goal of “reversing type 2 diabetes in 100 million people by 2025.” To do so, Virta provides a mobile app that provides medical records to physicians, nurses, and patients. Virta then provides experts with medical advice that educates and supports patients as they make healthy nutrition decisions, especially in terms of carbohydrate restriction.

 

Heal

Year founded: 2014

Total money raised: $171.1M (USD)

Amount raised in last round: $100M (USD)

Announcement date of last round: July 29, 2020

Number of employees: 51-200

Website: https://heal.com/

Heal provides a platform for patients to request house calls from doctors. The ambitious goal is to revolutionize health care and provide professional care to patients, within the privacy of their homes. Though the startup has taken COVID-19 precautions with its in-home visits, Heal also supports video appointments with doctors for primary care, digital monitoring, and telepsychology services.

 

Mindstrong

Year founded: 2014

Total money raised: $160M (USD)

Amount raised in last round: $100M (USD)

Announcement date of last round: May 21, 2020

Number of employees: 51-200

Website: https://mindstrong.com/

Mindstrong is developing a software platform that provides patients with psychiatry and evidence-based therapy. The goal is to lower the rates of inpatient readmission and emergency-room visits, as well as general mental and physical health costs. The Mindstrong platform combines goal-oriented care with machine learning that monitors interactions between human and software to better predict health care needs.

 

Quartet Health

Year founded: 2014

Total money raised: $159.5M (USD)

Amount raised in last round: $67.5M(USD)

Announcement date of last round: December 2, 2019

Number of employees: 201-500

Website: https://www.quartethealth.com/

Quartet Health provides a HIPAA-compliant platform for mental health care. Providers can refer patients to Quartet, or patients can sign up directly through the platform. Quartet Health matches patients to a health care plan that suits patient preferences, needs, and insurance. The overarching goal is to tie mental health care, via the digital tracking technology the platform provides, to a patient’s overall health care needs.

 

Mojo Vision

Year founded: 2015

Total money raised: $159M (USD)

Amount raised in last round: $51M (USD)

Announcement date of last round: April 29, 2020

Number of employees: 51-200

Website: https://www.mojo.vision/

Mojo Vision is an innovative startup combining augmented reality and medical care. Mojo Lens, the startup’s primary product, is a contact lens that uses microelectronics to display information to users. Mojo Vision has designed its product to ensure that it never gets in the way—a concept it calls “invisible computing.” Mojo Lens was recently one of three winners for the 2020 NASA iTech Cycle I.

 

Acufocus

Year founded: 2001

Total money raised: $152M (USD)

Amount raised in last round: $66M (USD)

Announcement date of last round: September 9, 2016

Number of employees: 11-50

Website: http://www.acufocus.com/

Acufocus is a Los Angelas-bases startup working on small aperture technology. The startup’s focus is on developing ophthalmic medical device products for cataract patients. Their first product, the IC-8 IOL, uses proprietary technology to focus light rays onto the retina, bringing what the patient sees into focus.

 

Sera Prognostics

Year founded: 2008

Total money raised: $150.3M (USD)

Amount raised in last round: $36M (USD)

Announcement date of last round: November 13, 2019

Number of employees: 51-200

Website: https://www.seraprognostics.com/

Sera Prognostics develops diagnostic blood tests that enable physicians to predict the risk of pregnancy complications like premature birth and preeclampsia. Sera Prognostics is a leader in proteomic science—the study of proteins. Combining technology that uses advanced bioinformatics and data analysis, the startup promises to continually improve the way physicians detect and predict risks to pregnancy.

 

Bigfoot Biomedical

Year founded: 2014

Total money raised: $147.6M (USD)

Amount raised in last round: $55M (USD)

Announcement date of last round: June 3, 2020

Number of employees: 51-200

Website: https://www.bigfootbiomedical.com/

Bigfoot Biomedical is a San Francisco-based startup founded by people living with type 1 diabetes and is dedicated to helping others with type 1 diabetes. The startup provides an automated insulin delivery system—an “artificial pancreas”—to improve health outcomes for patients. The device is neither an implanted device nor a biological cure for diabetes, but instead monitors insulin delivery to reduce hypoglycemia and hyperglycemia.

 

Science 37

Year founded: 2014

Total money raised: $147.5M (USD)

Amount raised in last round: $40M (USD)

Announcement date of last round: August 20, 2020

Number of employees: 51-200

Website: https://www.science37.com/

Science 37 is a Los Angeles-based company that enables people to participate in research virtually. Science 37 can do fully virtual clinical trials, supplement existing trials, or help other companies with the technology and change management involved in virtual trials. CEO David Coman has described the company as having the “mission to democratize clinical research by bringing trials directly to the patients.”

 

Biofourmis

Year founded: 2015

Total money raised: $143.6M (USD)

Amount raised in last round: $100M (USD)

Announcement date of last round: September 3, 2020

Number of employees: 51-200

Website: https://www.biofourmis.com/

Biofourmis is a biotechnology company that provides a portfolio of products that use digital therapeutics. Among those products is prescription software that detects heart failure and software that automatically detects over 15 types of cardiac arrhythmias. Biofourmis has FDA 510(k) clearance for numerous products in its portfolio.

After a round of funding in 2020, Biofourmis split into two divisions: Biofourmis Health and Biofourmis Therapeutics. The latter division is working on a heart-failure system that will undergo the De Novo submission process and receive oversight from both the Center for Drug Evaluation and Research and the Center for Devices and Radiological Health.

 

Akili Interactive Labs

Year founded: 2011

Total money raised: $140.9M (USD)

Amount raised in last round: $68M (USD)

Announcement date of last round: August 9, 2018

Number of employees: 51-200

Website: https://www.akiliinteractive.com/

Akili Interactive Labs is a Boston-based company developing cognitive therapeutics, assessments, and diagnostics with a twist: patients play them like video games. The company’s products combine neuroscience and entertainment to create a kind of medicine that patients will enjoy taking and using. Recent studies show improvements in patients with ADHD.

 

Verana Health

Year founded: 2018

Total money raised: $138.8M (USD)

Amount raised in last round: $100M (USD)

Announcement date of last round: February 5, 2020

Number of employees: 51-200

Website: https://www.veranahealth.com/

Verana Health provides a platform for storing life-sciences data that it promises will accelerate patient-based research. The startup uses a regulatory-grade data platform to store the data and partners with medical associations to gather the data. The goal is to reinvent medical research by offering physicians deeper insights about the conditions their patients deal with and the treatment options available.

 

Pear Therapeutics

Year founded: 2013

Total money raised: $134M (USD)

Amount raised in last round: $64M (USD)

Announcement date of last round: January 4, 2019

Number of employees: 51-200

Website: https://peartherapeutics.com/

Pear Therapeutics is a Boston-based company focusing on prescription digital therapeutics, or PDTs. A PDT is a software-based disease treatment that replaces treatments using pills or injections. Some of Pear’s PDT products include reSET, which treats Substance Use Disorder, and reSET-O, which targets Opioid Use Disorder.

 

98point6

Year founded: 2015

Total money raised: $129.4M (USD)

Amount raised in last round: $43M (USD)

Announcement date of last round: April 3, 2020

Number of employees: 51-200

Website: https://www.98point6.com/

98point6 provides a virtual clinic that delivers primary care from certified physicians. 98point6 provides instant, text-message based access to physicians via mobile app. Beyond increased access, physicians can use AI-powered features to diagnose, treat, prescribe, and follow up with patients. CEO Robbie Cape said that one of its primary advantages is users’ abilities to “fit [it] into the microslices of time that people have in their day.”

 

Hinge Health

Year founded: 2015

Total money raised: $126.1M (USD)

Amount raised in last round: $90M (USD)

Announcement date of last round: February 4, 2020

Number of employees: 201-500

Website: https://www.hingehealth.com/

Hinge Health is a San Francisco-based startup developing a digital clinic for back and joint pain. The goal is to provide musculoskeletal support throughout a patient’s life, from prevention to postsurgery recovery. The Hinge Health platform delivers this care through wearable sensors, a mobile app, and health coaching. Cofounder and CEO Daniel Perez claims that the platform is “cutting anxiety and depression rates by more than half.”

 

Innovaccer

Year founded: 2014

Total money raised: $124.1M (USD)

Amount raised in last round: $70M (USD)

Announcement date of last round: February 14, 2020

Number of employees: 501-1,000

Website: https://innovaccer.com/

Innovaccer provides patient records that integrate with hundreds of separate systems, as well as health analytics, across different populations. Within the platform, users can take advantage of an environment that integrates event- and data-driven care management. Physicians can also avoid burnout, a serious problem, by using the platform’s intelligent automation assistance to help make decisions.

 

Neocis

Year founded: 2012

Total money raised: $122.9M (USD)

Amount raised in last round: $72M (USD)

Announcement date of last round: October 8, 2020

Number of employees: 51-200

Website: https://www.neocis.com/

Neocis is a Miami-based startup developing dental implant surgery devices that are robot-assisted. In 2016, the startup finished a successful clinical study, and the FDA gave it market clearance. As of October 2020, the technology was already in use by two dental schools, Boston University and West Virginia University, to train dental students.

 

Truepill

Year founded: 2016

Total money raised: $113.4M (USD)

Amount raised in last round: $25M (USD)

Announcement date of last round: July 8, 2020

Number of employees: 201-500

Website: https://www.truepill.com/

Truepill is an innovative medical technology company that built the industry’s first pharmacy API. Behind the scenes, Truepill is helping companies fulfill and deliver prescriptions. Truepill is part of what’s called “direct to patient” health care—startups that are expanding medical access and reducing barriers to care. In 2019, Truepill made the Forbes Next Billion-Dollar Startups list.

 

LetsGetChecked

Year founded: 2014

Total money raised: $113M (USD)

Amount raised in last round: $71M (USD)

Announcement date of last round: May 6, 2020

Number of employees: 201-500

Website: https://www.letsgetchecked.com/us/en/

LetsGetChecked provides at-home testing kits. Users can order numerous different tests and receive them within a day, all while avoiding waiting rooms. Users do the tests themselves and then mail back samples that a laboratory can analyze. LetsGetChecked is one of a few companies providing COVID-19 testing kits and can provide results online—often within 72 hours.

 

LeanTaaS

Year founded: 2010

Total money raised: $107.7M (USD)

Amount raised in last round: $40M (USD)

Announcement date of last round: December 19, 2019

Number of employees: 51-200

Website: https://leantaas.com/

LeanTaaS promises “better healthcare through math.” This startup’s mission is to provide data analysis for providers who are undergoing digital transformations. A combination of data science and machine learning helps providers achieve greater operational efficiency. CEO Mohan Giridharadas and CMO Sanjeev Agrawal have written a whole book about the use of math in health care. Giridharadas says technology is necessary, that asset utilization “needs to be rooted in a level of calculation that simply cannot be performed manually.”

 

TytoCare

Year founded: 2011

Total money raised: $106.7M (USD)

Amount raised in last round: $50M (USD)

Announcement date of last round: April 7, 2020

Number of employees: 51-200

Website: https://www.tytocare.com/

TytoCare is a mobile platform that enables patients to do physical examinations on their own and get remote diagnoses. The product combines an app and a handheld exam kit to help patients provide information to their physicians remotely. Using Tyto, providers can examine a patient’s “heart, lungs, throat, ears, skin, abdomen, heart rate, and body temperature,” which results in the ability to diagnose conditions like ear infections, fevers, and allergies.

 

Evidation Health

Year founded: 2012

Total money raised: $106M (USD)

Amount raised in last round: $45M (USD)

Announcement date of last round: July 5, 2020

Number of employees: 51-200

Website: https://evidation.com/

Evidation Health provides a platform for health data analytics. The startup’s product gathers passive behavioral data and analyzes it to produce insights that “reflect an individual's day-to-day experience.” The goal is to measure health in normal, nonclinical contexts, providing researchers with unprecedented amounts of data. Importantly, the startup takes user privacy data seriously, committing to a permissioned data model.

 

TriNetX

Year founded: 2013

Total money raised: $102M (USD)

Amount raised in last round: $40M (USD)

Announcement date of last round: March 13, 2019

Number of employees: 51-200

Website: https://trinetx.com/

TriNetX provides a global research network that enables new therapies to go to market faster. The mission of TriNetX is to further the “collective understanding of human health” by providing data that informs clinical trial design, site selection, and patient recruitment. The platform provides real-time access to real-world data that users can analyze to improve how they run clinical trials.

 

Paige

Year founded: 2018

Total money raised: $95M (USD)

Amount raised in last round: $70M (USD)

Announcement date of last round: July 13, 2020

Number of employees: 11-50

Website: https://paige.ai/

Paige provides software that enables doctors to better diagnose, treat, and discover cancer. The company, whose name is an acronym of Pathology-AI-Guidance-Engine, provides an AI suite that offers a “clinical decision support system.” The software is built on computational technology that analyzes patient samples at depths previously unavailable, leading to personalized treatments and better patient outcomes.

 

Aetion

Year founded: 2012

Total money raised: $93.6M (USD)

Amount raised in last round: $82M (USD)

Announcement date of last round: August 26, 2020

Number of employees: 51-200

Website: https://www.aetion.com/

Aetion provides data science-driven technology to life sciences companies, payers, regulators, and HTA agencies. The startup developed the Aetion Evidence Platform, software that performs “rapid analyses to generate real-world evidence at scale.” As of October 2020, the startup had performed over 9,000 treatment effectiveness analyses, which helped the startup earn a partnership with FDA, establishing better approaches to drug approval.

 

PathAI

Year founded: 2016

Total money raised: $90.2M (USD)

Amount raised in last round: $75M (USD)

Announcement date of last round: November 4, 2019

Number of employees: 51-200

Website: https://www.pathai.com/

PathAI is developing technologies that offer precise prognostic tests for pathologists. These technologies help researchers find patients who may benefit from novel therapies. The technology also uses artificial intelligence to personalize medical care, making it scalable and sustainable across global markets.

In 2020, PathAI studied how well its technology characterizes tumor microenvironments. The results of this study caused PathAI cofounder and CEO Andy Beck to share his excitement about the “potential power of digital pathology and AI technologies to advance cancer research and drug development.”

 

Healthy.io

Year founded: 2013

Total money raised: $90M (USD)

Amount raised in last round: $60M (USD)

Announcement date of last round: September 12, 2019

Number of employees: 51-200

Website: https://healthy.io/

Healthy.io converts the camera hardware in smartphones into medical devices. The startup accomplishes this transformation through computer vision that enables the early detection of chronic kidney disease, the evaluation of wounds, and the detection of of urinary tract infections. The team refers to the company as “category creators of smartphone urinalysis.” The startup is the only company offering an FDA-cleared and CE-marked home urine test that matches up to lab-based devices.

 

Maven

Year founded: 2014

Total money raised: $88M (USD)

Amount raised in last round: $45M (USD)

Announcement date of last round: February 19, 2020

Number of employees: 51-200

Website: https://www.mavenclinic.com/

Maven is a virtual clinic that specializes in health care revolving around women’s health and fertility. Maven provides an app that connects patients to physicians, granting greater access to necessary health care information. Pregnant people have to visit the doctor frequently, especially during the third trimester, so a virtual clinic can save a patient lots of time. Kate Ryder, CEO of Maven said that, with the clinic, "You don't need to disrupt your day as much for those visits."

 

Exo

Year founded: 2015

Total money raised: $87.6M (USD)

Amount raised in last round: $40M (USD)

Announcement date of last round: August 20, 2020

Number of employees: 51-200

Website: https://www.exo.inc/

Exo is a California-based startup developing handheld ultrasound devices. The device can provide greater image fidelity, penetration depth, and 3D imaging than previously possible, thanks to its silicon-based chip design. The device can image the whole body, including the heart, abdomen, and musculoskeletal features. Founder Sandeep Akkaraju describes his company as a “team of uber-focused professionals trying to change the world and our product is such.”

 

Viz.ai

Year founded: 2016

Total money raised: $80.6M (USD)

Amount raised in last round: $50M (USD)

Announcement date of last round: October 23, 2019

Number of employees: 51-200

Website: https://www.viz.ai/

Viz.ai is a startup using artificial intelligence to prevent strokes. Its product detects symptoms and alerts stroke teams when patients exhibit symptoms of an impending stroke. Viz.ai provides a mobile app that enables those stroke teams to work together in real time and deliver fast, effective treatment. In October 2020, the startup saw a record quarter, with more than 100 hospitals adopting the product.

 

Ivantis

Year founded: 2007

Total money raised: $77M (USD)

Amount raised in last round: $25M (USD)

Announcement date of last round: January 9, 2017

Number of employees: 51-200

Website: https://www.ivantisinc.com/

Ivantis is a startup focused on developing devices for the treatment of glaucoma. So far, devices range from eye drops to laser therapy and surgery. The goal is to improve patient outcomes while using less-invasive solutions. The startup’s lead product is the Hydrus Microstent, which reduces eye pressure by enhancing outflow and expands the fluid pathway in the eye.

 

Oura

Year founded: 2013

Total money raised: $76.5M (USD)

Amount raised in last round: $28M (USD)

Announcement date of last round: March 17, 2020

Number of employees: 51-200

Website: https://ouraring.com/

Oura has developed a ring-based wearable for sleep monitoring and analysis. While users sleep, the Oura ring picks up signals—such as heart rate and body temperature—and analyzes them. When users wake, they can check the Oura app to see insights into how well they slept the previous night and how well they slept over time, and it tells them what they can do to improve the quality of their sleep.

 

Owkin

Year founded: 2016

Total money raised: $74.1M (USD)

Amount raised in last round: $70M (USD)

Announcement date of last round: June 30, 2020

Number of employees: 51-200

Website: https://owkin.com/

Owkin is an innovative startup dedicated to the problems of drug discovery and drug efficacy. The startup’s lead product is Owkin Loop, a research platform that connects medical researchers to academic data sets. Owkin Studio, a machine-learning platform, and Owkin Connect, a federated-learning framework, completes the software suite. So far, the company is focusing on oncology, immunology, and cardiovascular disease.

 

nference

Year founded: 2015

Total money raised: $74M (USD)

Amount raised in last round: $60M (USD)

Announcement date of last round: January 8, 2020

Number of employees: 201-500

Website: https://nference.ai/

nference is a Boston-area startup that provides technology powered by artificial intelligence for the analysis of biomedical databases. The startup’s mission is to leverage the digitization of health care information that’s occurred over the past decade and make all this data more accessible and usable. This wave of digitization is vast. Because manual human analysis isn't sustainable, the need for the startup’s technology arose.

 

Carbon Health

Year founded: 2015

Total money raised: $72.5M (USD)

Amount raised in last round: $28M (USD)

Announcement date of last round: May 12, 2020

Number of employees: 201-500

Website: https://carbonhealth.com/

Carbon Health is a San Francisco-based startup developing a mobile health network. Users can book same-day appointments on their phones and chat with their doctor, as well as with a wider health team. The goal is to meet users with all their health care needs in one centralized, accessible place. Users can get primary and urgent care, as well as virtual care.

 

Arterys

Year founded: 2016

Total money raised: $71.7M (USD)

Amount raised in last round: $28M (USD)

Announcement date of last round: May 29, 2020

Number of employees: 51-200

Website: https://arterys.com/

Arterys is a San Francisco-based startup dedicated to making medicine more data-driven and “reducing subjectivity and variability in clinical diagnosis.” The startup uses cloud computing to help hospitals read big data files generated by 4D flow technology. With their product, any provider with a web browser can access lifesaving imaging data to diagnose conditions and make treatment decisions.

 

Cala Health

Year founded: 2014

Total money raised: $71.3M (USD)

Amount raised in last round: $50M (USD)

Announcement date of last round: May 21, 2019

Number of employees: 11-50

Website: https://calahealth.com/

Cala Health is a San Francisco-based startup working in bioelectronic medicine. The company is developing wearable neuromodulation therapies that provide patients with peripheral nerve stimulation. The startup’s lead product, Cala Trio, is a prescription therapy for essential tremor that isn’t invasive. The startup is also working on therapies in the fields of neurology, cardiology, and psychiatry.

 

Mammoth Biosciences

Year founded: 2017

Total money raised: $68.1M (USD)

Amount raised in last round: $45M (USD)

Announcement date of last round: January 30, 2020

Number of employees: 11-50

Website: https://mammoth.bio/

Mammoth Biosciences is a San Francisco-based startup developing products based on clustered regularly interspaced short palindromic repeats (CRISPR) technologies. The company’s cofounder is CRISPR-Cas genome editing coinventor Jennifer Doudna. The challenges the startup is targeting range across health care, agriculture, and biodefense. In October 2020, Doudna won a Nobel Prize in chemistry for her CRISPR discovery.

 

Celcius Therapeutics

Year founded: 2018

Total money raised: $65M (USD)

Amount raised in last round: $65M (USD)

Announcement date of last round: May 15, 2018

Number of employees: 11-50

Website: https://celsiustx.com/

Celcius Therapeutics is a Boston-based startup developing medicines for conditions such as autoimmunity and cancer. The startup uses machine-learning algorithms to analyze massive quantities of data more precisely. By sorting through this information, the company can identify specific cells and genes behind diseases.

Celsius cofounder and president Christoph Lengauer compares previous genomic sequencing to smoothies: "Before, we looked at tissue knowing that there are many different types of cells in there. You put all it in a blender and then sequence it to find the average."

 

BrightInsight

Year founded: 2017

Total money raised: $65M (USD)

Amount raised in last round: $40M (USD)

Announcement date of last round: June 23, 2020

Number of employees: 51-200

Website: https://brightinsight.com/

BrightInsight is a startup in the San Francisco area that is working on a digital health platform for the biopharmaceutical and medical device industries. The goal of the startup, according to cofounder and CEO Kal Patel, MD, is to provide “the underlying technology so that our biopharma and medtech clients can concentrate on bringing new treatment innovations to market to transform patient outcomes.”

 

Kindbody

Year founded: 2018

Total money raised: $63.3M (USD)

Amount raised in last round: $32M (USD)

Announcement date of last round: July 8, 2020

Number of employees: 51-200

Website: https://kindbody.com/

Kindbody is a New York-based startup that provides fertility, gynecology, and family-building care. The company offers virtual and in-person fertility assessment, as well as egg freezing, conception, and reciprocal IVF assessments. The startup keeps prices low through proprietary technology that creates a smooth, end-to-end experience for members.

 

Caption Health

Year founded: 2013

Total money raised: $60.9M (USD)

Amount raised in last round: $53M (USD)

Announcement date of last round: July 15, 2020

Number of employees: 11-50

Website: https://captionhealth.com/

Caption Health is a San Francisco-based startup that offers providers artificial intelligence-powered software for interpreting ultrasound exams. The startup’s vision is to translate the expertise of specialty medical experts into technology that all providers can use. The product is FDA cleared, and in October 2020, Northwestern Memorial Hospital was the first hospital in the United States to become a customer.

 

Genome Medical

Year founded: 2016

Total money raised: $60.7M (USD)

Amount raised in last round: $37M (USD)

Announcement date of last round: July 1, 2020

Number of employees: 51-200

Website: https://www.genomemedical.com/

Genome Medical is a San Francisco-based startup offering genetic health services through telemedicine. The company’s virtual care network makes genetic specialists accessible to a much wider range of patients. The field of genetic testing is evolving rapidly, which makes Genome’s technology especially relevant. Genome Medical experts help individuals, families, clinicians, and patients understand their tests and use the results of the tests to better understand disease and diagnoses.

 

Zebra Medical Vision

Year founded: 2014

Total money raised: $57.4M (USD)

Amount raised in last round: $30M (USD)

Announcement date of last round: June 7, 2018

Number of employees: 51-200

Website: https://www.zebra-med.com/

Zebra Medical Vision is a San Francisco-based company working on expanding the supply of radiology information. According to the company, the demand for medical imaging services has outpaced the availability of radiologists.

The startup is offering technology that helps radiologists manage their workloads better. The company develops algorithms that can automatically sort through millions of clinical records to detect medical conditions and provide radiologists with powerful insights.

 

Dreem

Year founded: 2014

Total money raised: $57M (USD)

Amount raised in last round: $35M (USD)

Announcement date of last round: June 26, 2018

Number of employees: 51-200

Website: https://dreem.com/

Dreem is a San Fransciso-based startup working on ways to help people sleep better. The company is developing a headband wearable that tracks data points from users’ bodies and brains to analyze how well they sleep. A 2020 peer reviewed study showed that the results from the device were just as accurate as analysis from sleep-center experts.

 

Whisper

Year founded: 2017

Total money raised: $53M (USD)

Amount raised in last round: $35M (USD)

Announcement date of last round: October 15, 2020

Number of employees: 11-50

Website: https://whisper.ai/

Whisper is a San Francisco-based startup working on a smart hearing aid. The device updates itself using artificial intelligence and comes with sound separation technology. Users also receive specialized care from a local hearing health care provider. Whisper cofounder and president Andrew Song explains the device as “a new kind of product, one that could get better over time and better support the needs of people who use hearing aids, and be a hearing aid that gets better.”

 

Redox

Year founded: 2014

Total money raised: $50M (USD)

Amount raised in last round: $33M (USD)

Announcement date of last round: April 17, 2019

Number of employees: 51-200

Website: https://www.redoxengine.com/

Redox is a Madison, Wisconsin-based startup working on a platform for interoperability between health care data exchanges. The goal of the company is to provide a scalable infrastructure that simplifies how health care providers share data. As of October 2020, more than 900 healthcare organizations—between them using 55 electronic health record (EHR) vendors—were using Redox to integrate digital health data.

 

DrChrono

Year founded: 2009

Total money raised: $48.7M (USD)

Amount raised in last round: $20M (USD)

Announcement date of last round: January 13, 2020

Number of employees: 51 -200

Website: https://www.drchrono.com/

DrChrono, a San Francisco-based company, claims to be the first electronic health record (EHR) company to build a native app for the iPhone and the iPad. The company is the official Apple Mobility Partner for health care and is one of the youngest companies involved in the US government’s Precision Medicine Initiative. The startup offers a telehealth platform that includes mobile health records, medical billing, and an open health care API.

 

Kaia Health

Year founded: 2016

Total money raised: $48M (USD)

Amount raised in last round: $26M (USD)

Announcement date of last round: June 18, 2020

Number of employees: 51-200

Website: https://www.kaiahealth.com/

Kaia Health is a New York-based startup working on a platform for digital therapeutics. Konstantin Mehl and Manuel Thurner started the company after struggling to manage chronic pain. Multimodal therapy, the best way to deal with that pain, was inaccessible. Kaia Health is dedicated to making chronic-pain therapies more widely available and eventually envisions working on conditions like osteoarthritis and Parkinson’s disease.

 

Abacus Insights

Year founded: 2017

Total money raised: $47.4M (USD)

Amount raised in last round: $35M (USD)

Announcement date of last round: June 16, 2020

Number of employees: 51-200

Website: https://abacusinsights.com/

Abacus Insights is a New York-based startup working on a data management platform for the health care industry. The startup is dedicated to solving the problem of unnecessary complexity around access, cost, and quality. The core problem, according to the company, is that data silos cause inefficient information asymmetry. The company is leveraging the digitization of health care and the power of cloud computing to gather data, analyze it, and make it accessible.

 

Perspectum

Year founded: 2012

Total money raised: $46.7M (USD)

Amount raised in last round: $36M (USD)

Announcement date of last round: April 14, 2020

Number of employees: 201-500

Website: https://perspectum.com/

Perspectum is a UK-based startup that first got its start at the University of Oxford, where researchers discovered that T1 mapping could potentially predict liver fibrosis. Liver disease is becoming more prevalent and many patients require transplants. Perspectum focuses on developing digital technologies that help clinicians detect and measure diseases of the liver, gallbladder, and pancreas.

 

Lunit

Year founded: 2013

Total money raised: $46.5M (USD)

Amount raised in last round: $26M (USD)

Announcement date of last round: January 9, 2020

Number of employees: 51-200

Website: https://www.lunit.io/en/

Lunit is a Korean startup that has won multiple international awards for its deep-learning AI technology. Lunit’s mission is to conquer cancer by pioneering the next stages of medical intelligence. The company’s AI-powered solutions cover two key medical device categories: precision diagnostics and precision medicine. The company’s current solutions for analyzing chest x-rays, mammographies, and tissue slides help doctors diagnose patients more efficiently and prescribe therapeutics more accurately.

 

Unite Us

Year founded: 2013

Total money raised: $45.3M (USD)

Amount raised in last round: $35M (USD)

Announcement date of last round: March 21, 2019

Number of employees: 51-200

Website: https://uniteus.com/

Unite Us is a New York-based tech company that’s building coordinated care networks for health and social care providers. Founded by veterans, the company is on a mission to take wellness beyond medical care. The company gives communities the infrastructure needed to track outcomes together and streamline the delivery of health care services. The Unite Us platform integrates medical and social care workflows, generates insights, and facilitates payments to align health care, government, and community stakeholders on shared goals.

 

CureApp

Year founded: 2014

Total money raised: $39.9M (USD)

Amount raised in last round: $20.3M (USD)

Announcement date of last round: July 5, 2019

Number of employees: 51-200

Website: https://cureapp.co.jp/en/

CureApp is a Japanese startup focused on the growing field of digital therapeutics. The company developed a mobile health program with the goal of improving disease prevention. CureApp currently has solutions for hypertension, smoking cessation, and liver treatment for those with NASH. These solutions rely on patient data from smartphones and other mobile devices to inform personalized treatment plans.

 

Brightside

Year founded: 2017

Total money raised: $39.2M (USD)

Amount raised in last round: $35.1M (USD)

Announcement date of last round: June 16, 2020

Number of employees: 11-50

Website: https://www.brightside.com/

Brightside is a San Francisco-based startup dedicated to giving people easy and affordable access to anxiety and depression care. The company’s mission is based on the idea that standard approaches to anxiety and depression care aren’t effective enough. Brightside is an FDA-approved platform for medication and evidence-based therapy. The platform connects patients with doctors and therapists; tracks patient progress and outcomes; and provides interactive, self-guided therapy lessons.

 

Pixium Vision

Year founded: 2011

Total money raised: $39.1M (USD)

Amount raised in last round: $8.5M (USD)

Announcement date of last round: July 15, 2020

Number of employees: 11-50

Website: https://www.pixium-vision.com/

Pixium Vision is a French startup whose mission is to develop bionic vision-restoration systems capable of restoring some sight to the blind. The company’s goal is to improve quality of life for people who have lost their sight. The company has developed the PRIMA System, which includes a sub-retinal implant, a pair of glasses with a mini camera, and a pocket computer powered by AI algorithms that process visual scenes. Together, these solutions stimulate retinal nerves and transmit information to the brain.

 

Eko

Year founded: 2013

Total money raised: $36.5M (USD)

Amount raised in last round: $20M (USD)

Announcement date of last round: September 25, 2019

Number of employees: 11-50

Website: https://www.ekohealth.com/

Eko is a startup in Oakland, California, that develops advanced stethoscopes, software, and AI-powered analysis to improve cardiac care. The company’s suite of solutions helps physicians and nurses digitize the traditional cardiovascular exam to improve the accuracy of auscultation assessments. Eko also provides telehealth solutions that give remote physicians access to high-fidelity audio streams of electrocardiogram (ECG) and visualized waveforms, which improves patient access to accurate stethoscope exams.

 

Salvia BioElectronics

Year founded: 2017

Total money raised: $34.6M (USD)

Amount raised in last round: $31M (USD)

Announcement date of last round: September 22, 2020

Number of employees: 11-50

Website: www.salvianeuro.com/

Salvia BioElectronics is a Dutch startup in the emerging field of bioelectronics. Founded by neuromodulation industry veterans, Salvia BioElectronics aims to develop a bioelectronics therapy for chronic migraine sufferers that will make it easy to take medication and remain side-effect-free. The startup is building on research around known neural targets in migraines to develop an effective, safe, and affordable solution for stimulation.

 

Vim

Year founded: 2015

Total money raised: $34.6M (USD)

Amount raised in last round: $24M (USD)

Announcement date of last round: September 9, 2019

Number of employees: 51-200

Website: https://getvim.com/

Vim is a San Francisco-based startup that helps integrate data from payers and providers at the point of care. By bringing payer data to EHR interfaces, Vim enables health care providers to improve patient experiences with insights into top in-network doctors and more actionable insights at the point of care. The company’s mission is to support value-based care that maximizes the performance of health care systems while making services more affordable for all patients.

 

CyberMDX

Year founded: 2016

Total money raised: $30M (USD)

Amount raised in last round: $20M (USD)

Announcement date of last round: April 7, 2020

Number of employees: 51-200

Website: https://www.cybermdx.com/

CyberMDX is a New York-based startup that specializes in cybersecurity for medical device companies. The company provides AI-powered software that provides clients with greater visibility into network security. This is important because medical devices, according to the company, “are among the weakest assets in hospital networks.”

 

Bright.md

Year founded: 2014

Total money raised: $29.2M (USD)

Amount raised in last round: $16.7M (USD)

Announcement date of last round: May 27, 2020

Number of employees: 51-200

Website: https://bright.md/

Bright.md is a startup inPortland, Oregon, creating a virtual care-delivery platform that increases health care accessibility and affordability for patients. The company’s main product is an AI-powered automation platform called SmartExam. It’s a first-point-of-contact solution that can triage and provide care for many low-acuity conditions or refer patients to in-person or video-based services. According to CEO Dr. Ray Costantini, the latest round of funding will help Bright.md expand coverage to more health systems.

 

Xealth

Year founded: 2017

Total money raised: $28.5M (USD)

Amount raised in last round: $6M (USD)

Announcement date of last round: August 10, 2020

Number of employees: 11-50

Website: https://www.xealth.com/

Xealth is a Seattle-based startup that spun out of Providence St. Joseph Health (PSJH) to develop a digital health prescribing platform. The company gives health care teams the tools needed to order and monitor digital tools, including educational content, remote monitoring devices, mobile applications, services that require patient enrollment, product recommendations, and more. Xealth’s goal is to help care teams and physicians monitor patient engagement more effectively and understand how that engagement impacts outcomes.

 

Alpha Health

Year founded: 2018

Total money raised: $25M (USD)

Amount raised in last round: $20M (USD)

Announcement date of last round: June 10, 2020

Number of employees: 11-50

Website: https://alphahealth.com/

Alpha Health is a Silicon Valley startup that’s dedicated to solving the financial complexity of the United States health care system. The company believes that advanced machine-learning solutions can eliminate the complexities of medical billing and reimbursement that create hidden costs. According to cofounder and CEO Malinka Walaliyadde, “Alpha Health will be a powerful force for restoring trust in healthcare.”

 

GYANT

Year founded: 2016

Total money raised: $22.8M (USD)

Amount raised in last round: $13.6M (USD)

Announcement date of last round: July 15, 2020

Number of employees: 11-50

Website: https://gyant.com/

GYANT is a San Francisco-based startup that creates customizable solutions for health systems, integrated delivery networks, hospitals, and providers. The goal of these solutions is to improve patient experiences, streamline workflows, and reduce costs.

The company’s suite of AI-powered solutions help automate care navigation, triage, patient data collection, asynchronous treatment, and patient outreach. According to CEO Stefan Behrens, GYANT’s vision is to achieve “personalized patient experiences with digital navigation to the right, best possible care.”

 

Modern Fertility

Year founded: 2017

Total money raised: $22M (USD)

Amount raised in last round: $15M (USD)

Announcement date of last round: June 11, 2019

Number of employees: 11-50

Website: https://modernfertility.com/

Modern Fertility is a San Francisco-based startup that provides direct-to-consumer fertility tests as well as personalized reporting and educational material to help people understand more about their reproductive health. According to a TechCrunch report, CEO Afton Vechery says the mission is to “enable women to learn more about their bodies without having to shell out $1,500 to gain access to a similar picture by turning to a fertility specialist.”

 

icometrix

Year founded: 2011

Total money raised: $20.2M (USD)

Amount raised in last round: $18M (USD)

Announcement date of last round: May 14, 2019

Number of employees: 11-50

Website: https://icometrix.com/

icometrix is a Belgium-based startup that creates cloud-based, AI-powered solutions for medical imaging. The company’s icobrain portfolio generates clinically meaningful insights from MR and CT scans for patients suffering from multiple sclerosis, brain trauma, epilepsy, dementia, and more. More recently, icometrix released an icolung solution in response to the COVID-19 pandemic, helping health care providers quantify lung pathology on chest CT scans.

 

Twistle

Year founded: 2011

Total money raised: $19.8M (USD)

Amount raised in last round: $16M (USD)

Announcement date of last round: October 29, 2019

Number of employees: 11-50

Website: https://www.twistle.com/

Twistle is a Seattle-based startup that automates HIPAA-compliant communication between patients and their care teams to improve experiences and outcomes while reducing health care costs. The company’s mission is to optimize patient care by facilitating (and automating) proactive conversations across multiple channels, including text messaging, IVR, digital applications, and patient portals. By making communication with health care providers more effective, Twistle aims to motivate patients to take more ownership over their health.

 

Notable

Year founded: 2017

Total money raised: $19.2M (USD)

Amount raised in last round: $13.5M (USD)

Announcement date of last round: September 6, 2018

Number of employees: 51-200

Website: https://notablehealth.com/

Notable is a Silicon Valley startup that automates the administrative side of health care. The company started by using artificial intelligence and natural language processing to create a digital assistant that helped doctors digitize their notes and simplify patient records. Now, Notable offers an end-to-end suite of solutions that automate routine pre-visit, in-visit, and post-visit tasks, as well as in other areas such as risk management and care coordination.

 

Wellth

Year founded: 2014

Total money raised: $19.1M (USD)

Amount raised in last round: $10M (USD)

Announcement date of last round: May 7, 2020

Number of employees: 11-50

Website: https://www.wellthapp.com/

Wellth is a Los Angeles-based health tech company that believes behavioral economics is critical to improving outcomes for patients with chronic conditions. The startup provides a platform powered by AI that’s built on behavioral economic principles, giving members evidence-based steps to build healthy habits. Wellth then provides daily financial incentives for members who complete individual steps in their care plans, such as scheduled check-ins.

 

AllStripes

Year founded: 2017

Total money raised: $17.1M (USD)

Amount raised in last round: $14M (USD)

Announcement date of last round: April 16, 2020

Number of employees: 11-50

Website: https://www.allstripes.com/

Formerly called RDMD, AllStripes is a San Francisco-based startup dedicated to giving patients and communities the ability to contribute to drug development for rare diseases. The company’s research platform helps patients strip identifying information from their medical records so they can safely share data that can help drive faster drug development for rare conditions. AllStripes hopes to harness the collective insights of patients to improve rare disease treatment.

 

Incredible Health

Year founded: 2017

Total money raised: $17M (USD)

Amount raised in last round: $15M (USD)

Announcement date of last round: September 12, 2019

Number of employees: 11-50

Website: https://www.incrediblehealth.com/

Incredible Health is a San Francisco-based startup that connects nurses and other high-shortage health care workers with care providers to accelerate hiring processes. The company’s mission is to ensure that hospitals are able to solve staffing issues so patients have the highest-quality care possible. And according to CEO Dr. Iman Abuzeid, the company’s vision is “to help healthcare professionals live better lives” by intelligently matching them to the right employers.

 

Qure.ai

Year founded: 2016

Total money raised: $16M (USD)

Amount raised in last round: $16M (USD)

Announcement date of last round: February 26, 2020

Number of employees: 11-50

Website: https://qure.ai/

Qure.ai is a Mumbai-based startup that develops deep learning algorithms for medical imaging. The company offers two main products: qXR to detect abnormalities on chest x-rays, and qER, a triage and notification tool that helps health care providers prioritize head CT scans that show critical abnormalities. According to cofounder Pooja Rao, qER offers “a comprehensive solution to the clinicians, rather than a partial one that triages on the basis of limited or even single findings.”

 

Osso VR

Year founded: 2016

Total money raised: $16M (USD)

Amount raised in last round: $14M (USD)

Announcement date of last round: September 22, 9/22/2020

Number of employees: 51-200

Website: https://ossovr.com/

Osso VR is a Boston-based startup working on a platform for virtual reality surgery training and assessment. Cofounder and CEO of Osso VR, Justin Barad, combined a passion for game development with an urgent need for improved surgical training. The product comes with built-in, user-specific assessments that operators can use to review the proficiency of its trainees. The company also offers content creation services, hardware leasing, and performance analytics.

 

Meru Health

Year founded: 2015

Total money raised: $13.3M (USD)

Amount raised in last round: $8.1M (USD)

Announcement date of last round: May 13, 2020

Number of employees: 51-200

Website: https://www.meruhealth.com/

Meru Health is a startup based in San Mateo, California, that is on a mission to improve quality of life for people suffering from mental health challenges. The company’s 12-week program is completed entirely via smartphone and provides access to licensed therapists, psychiatrists, peer support, biofeedback, activities for building new habits, and guidance on mindfulness. Meru Health takes an outcome-driven approach to treating depression, anxiety, and burnout.

 

Firefly Health

Year founded: 2016

Total money raised: $12.2M (USD)

Amount raised in last round: $10.2M (USD)

Announcement date of last round: September 16, 2019

Number of employees: 11-50

Website: https://www.firefly.health/

Firefly Health is a Boston-based startup that provides virtual primary care through its digital platform called Lucian. With Firefly, patients get “a personalized care team that includes [a] Primary Care Provider (PCP), Nurse Practitioner (NP), and Health Guide.” The company strives to develop solutions for continuous, intelligent care that cuts waste out of the health care system.

 

Unlearn

Year founded: 2017

Total money raised: $12M (USD)

Amount raised in last round: $12M (USD)

Announcement date of last round: April 20, 2020

Number of employees: 11-50

Website: https://www.unlearn.ai/

Unlearn is a San Francisco startup that is using artificial intelligence to speed up clinical-trial processes. According to the company’s main investor, 8VC, “Unlearn builds computational models trained on data from prior placebo patients . . . [and] generates virtual control patients with features indistinguishable from real ones.” The virtual patients are called “digital twins.” The company’s AI-generated clinical records help accelerate trial timelines while providing patient-level insight into how patients will respond to treatments.

 

SonarMD

Year founded: 2015

Total money raised: $10M (USD)

Amount raised in last round: $10M (USD)

Announcement date of last round: December 17, 2018

Number of employees: 11-50

Website: https://sonarmd.com/

SonarMD is a Chicago-based company that develops a care coordination and therapy optimization solution specifically for gut health. The virtual tool gives patients an easier way to track Crohn’s and ulcerative colitis symptoms independently while improving communication with GI specialists. By working directly with sub-specialists and contracting with payers, SonarMD strives to provide value-based care for those with high-beta conditions.

 

InnoVein

Year founded: 2015

Total money raised: $6.7M (USD)

Amount raised in last round: $6.5M (USD)

Announcement date of last round: July 3, 2018

Number of employees: 1-10

Website: https://www.innoveinmedical.com/

InnoVein is a California-based medical device startup backed by Y Combinator. The company is developing a replacement valve for patients suffering from venous ulcers and other advanced vein diseases. InnoVein’s novel technology, a prosthetic valve replacement that can definitively cure veins affected by poorly functioning valves, is in trials for approval.

FREE DOWNLOAD: Click here to download the free chart of the top 100 medical device startups with most money raised in 2020.

Quality—the Key to Competing with Well-Funded Medical Device Startups

Accelerating time to market is critical if you want to compete with well-funded medical device companies. But too often, speed comes with a focus on bare-minimum compliance that leads to unnecessary risk.

To see how a focus on quality can make your company more productive and innovative, get a personalized demo of Greenlight Guru’s medical device QMS (MDQMS).


Looking for a design control solution to help you bring safer medical devices to market faster with less risk? Click here to take a quick tour of Greenlight Guru's Medical Device QMS software