Mobile Health Funding Ramps Up in 2014
VC funding in health IT more than doubled with $1.8 billion raised in 161 deals, a 104 percent increase compared to the $861 million raised in the first quarter of 2014.The majority of consumer-centric health care funding in the second quarter of 2014 went into the mobile health category ($401 million in 45 deals), and within mobile health, $129 million went to 23 companies developing apps, and $226 million went to 17 companies developing wearables, according to communications and consulting firm Mercom Capital Group. Overall venture capital (VC) funding in the sector more than doubled with $1.8 billion raised in 161 deals, a 104 percent increase compared to the $861 million raised in the first quarter of 2014, and 10 of those deals were for more than $50 million each. The top funding deal topping $100 million in the second quarter was the $135 million raise by NantHealth, a cloud-based health care IT company delivering care through a single integrated clinical platform, from the sovereign wealth fund, Kuwait Investment Authority and BlackBerry. In second place was the $130 million raise by Flatiron Health, a developer of a cloud-based business and clinical intelligence oncology data platform, from Google Ventures, First Round Capital and Laboratory Corporation of America.
Globally, companies in the United States raised $1.6 billion from 140 of the $1.8 billion total and 161 deals, while 13 other countries recorded at least one deal apiece.