Jul 8, 2021 - Health

Digital health funding balloons

Illustration of a $100 bill with a magnifying glass.
Illustration: Sarah Grillo/Axios

The money was flowing in digital health in the first half of this year, already outpacing funding rounds in the entirety of 2020, according to a new report from Rock Health.

The big picture: Digital health funding is accelerating — in the total number of deals and in size.

For instance, in the first six months of 2021, $14.7 billion in funding went to companies in 372 rounds.

  • That is up from $14.6 billion in 2020 on 460 deals. It's also up from $7.7 billion in 2019 on 383 deals.
  • The average deal size in the first half of 2021 was $39.6 million in funding with 48 mega-rounds or rounds of $100 million or more.
  • The average deal size in 2020 was $31.7 million with a total of 44 mega-rounds and the average deal size was $20.1 million with a total of 11 mega-rounds in 2019.

Among the largest rounds in the first half was $540 million in a Series F round by weight loss company Noom. It was also one of the largest single rounds in digital health history, Rock Health said.

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