- Healthcare startups raised about $35 billion globally in 2021’s second quarter, CB Insights reports.
- Among them are 11 companies valued for the first time at more than a billion dollars each.
- The startups, spanning from telehealth apps to dental clinics, are valued at a combined $27 billion.
- See more stories on Insider’s business page.
raised a record roughly $35 billion in 2021’s second quarter.
That included funding for 11 startups whose valuations of $1 billion and more propels them into the “unicorn” category, according to a new report from research firm CB Insights.
Most are buoyed by their technology — a sign that the software and apps that cropped up in response to the pandemic could stick around long after, CB Insights managing analyst Marissa Schlueter told Insider in an email.
Funding continues to tick up — healthcare companies raised about $32 billion in the previous quarter — though the growth rate appears to have slowed. But these 11 companies — valued at an aggregate $27 billion — could hint at upcoming initial public offerings.
The 11 newcomers offer a wide range of products and services spanning from cloud software for life sciences research to precision medicine to dental clinics and hospitals. They join a cadre of 78 healthcare unicorns valued at a total of $214 billion.
The 11 healthcare startups that just scored unicorn status
- Valued at $7.8 billion, Texas-based Caris Life Sciences offers DNA, RNA, and protein profiling to help doctors tailor treatment to specific patients. The molecular science and artificial intelligence company, which also has offices in Switzerland, offers services globally including in the US, Asia, and Europe. Caris raised $830 million in May.
- Backed by investors like Sequoia Capital, Menlo Ventures, and Thrive Capital, Benchling sells software for life sciences research and development — including applications that help track the location of vials and sample batches, among other offerings. The San Francisco-based company is valued at $4 billion.
- Weight-loss app company Noom — backed by investors like RRE Ventures and Samsung Ventures — offers users personalized health plans as well as access to human health coaches. The company, which is planning to expand into behavioral health, is valued at $3.7 billion.
- Valued at $2 billion, KRY‘s technology connects patients in Sweden, Norway and Germany to doctors. A KRY subsidiary called Livi offers similar services in France and the UK. Investors include Fidelity Investments and CPP Investments, according to CB Insights.
- Dental services company Arrail operates clinics and hospitals in China. It’s valued at $2 billion, with its latest $200 million funding round led by Temasek in April.
- $1.6 billion French company Alan offers health insurance plans to companies in Europe. Its app processes most reimbursement requests in less than an hour and lets members chat with medical experts, according to the company.
- Valued at $1.3 billion, Yaoshibang’s technology helps pharmacies and health systems order medicines, according to Pitchbook.
- San Francisco-based telehealth company Cerebral offers online mental health appointments and prescriptions for depression, insomnia and anxiety. Already valued at $1.2 billion, the company was founded in January 2020 and raised $127 million in April.
- LetsGetChecked — which sells at-home test kits for conditions such as COVID-19 or sexually transmitted diseases — is valued at $1 billion. The company sends test directly to consumers and processes samples in its own labs; it raised $150 million in June.
- Thirty Madison, valued at more than $1 billion, prescribes medication and offers online visits for conditions like hair loss, gastrointestinal issues, allergies and migraines. Backers include Johnson & Johnson.
- Capsule Pharmacy offers same-day prescription delivery and online access to pharmacists. The service is free with patients’ co-pay, according to the company. Capsule raised $300 million in May and is valued at more than $1 billion.
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