Apps to help manage chronic conditions and other illnesses dominated the $220 million raised across 35 deals, according to a new report sizing up the first quarter of 2015 by Mercom Capital. Mercom noted that app developers had raised about $900 million since 2010. The split reflects the maturation of the technology. The report highlighted the diverse uses that these apps, wearable sensors and sensor-based implants are serving in the care management realm.
Advance Health raised $40 million for its mobile patient data capture applications for in-home health risk assessments and chronic care management, from Summit Partners and Noro-Moseley Partners.
Clinical Ink raised $20 million for its electronic data capture through mobile devices for clinical trials from MPM Capital, F2 Ventures, FCA Venture Partners and other investors.
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
Glooko, which received FDA clearance for a mobile diabetes management app and a metersync device, raised $16.5 million from Medtronic, Canaan Partners, The Social + Capital Partnership and Samsung’s venture investment arm. The funding will partly go towards adding data from insulin pumps and continuous glucose monitoring systems to integrate personalized, predictive algorithms into its platform.
On the fitness and wellness side, ClassPass, a mobile membership app that gives users access to fitness and wellness classes across different gyms and studios for a flat fee, received $40 million from General Catalyst and Thrive Capital. Noom raised $16.15 million for its virtual coaching health and fitness apps, raised $16.15 million from Han-Sing Hi-Tech Fund, TransLink Capital and RRE Ventures.
Wearable sensor companies attracted $42 million across nine deals. Sensors embedded in implants and wearables also accounted for some of the larger mobile health deals in the quarter. Orthosensor, which develops disposable orthopedic implants to help surgeons optimize placement of artificial knees and other clinical decisions, raised $19 million from Bridger Healthcare and Tullis Growth Fund. Implantable glucose meter developer GlySens, geared for people with diabetes, raised $12 million.
Mobile wireless technology companies raised $21 million in 12 deals. Augmented reality smart glass developer for physicians and other professionals, Atheer Labs, raised $8.8 million. Palo Alto Health Sciences, a developer of an FDA-cleared, at-home breathing system that trains individuals diagnosed with panic disorder to control their breathing and respiration, raised $3.9 million.
