The 150-strong cohort hails from 18 totally different international locations, and chosen from a pool of almost 8,000 contenders. Their inclusion was judged by CB Insights primarily based on a variety of things, equivalent to market potential, investor profile, patent exercise, aggressive panorama and the novelty of their expertise.
WHY IT MATTERS
Bragging rights apart, CB Insights’ listing and accompanying report serve as a snapshot of the digital well being trade as outlined by a lot of its front-runners.
Collectively, the 150 startups had raised greater than $20 billion in whole funding from over 900 distinctive buyers. As well as, 12 unicorns are among the many startups that made the minimize – a decline from the 17 unicorns featured in final yr’s assortment.
Geographic disparities within the listing look like comparatively unchanged in 2020. Startups primarily based within the U.S. as soon as once more made up the lion’s share (77%) of the listing, and have been most intently adopted by six startups from China and 5 from the U.Okay.
When breaking down the startups into 12 totally different main classes, these centered on scientific intelligence and enablement have been probably the most outstanding (representing 17% of the cohort), intently adopted by screening and diagnostics startups (16% of the cohort). Behind these have been startups concentrating on digital care supply (11%) and illness administration and therapeutics (10%).
However the inflexible breakdown of main focus areas does not essentially inform the entire story. CB Insights made some extent to name out the skyrocketing demand for telehealth throughout the trade by highlighting the truth that 41% of the businesses on its listing now provide some type of remote-healthcare companies as a part of their enterprise.
Among the many different healthcare subcategories on the rise inside the high 150 listing have been drug R&D (26 firms), healthcare value optimization (20 firms), psychological and behavioral well being (10 firms) and ladies’s well being (10 firms).
THE LARGER TREND
The non-public digital well being sector has seen wholesome progress with every passing yr, and to date seems to be staying the course in 2020. New offers have hardly slowed down, regardless of some fears that COVID-19 may result in skittish buyers, with Rock Well being noting that telehealth and behavioral well being have each been key benefactors of the continued pandemic.
In the meantime, the markets have additionally been fairly beneficiant to digital well being firms which have gone public. A number of of 2020’s IPOs have opened sturdy and continued to develop, whereas the most important names like Teladoc Well being and Livongo have loved file excessive inventory costs (and now wish to be a part of forces).