Digital health funding reached $10.2 billion in 2024, holding steady despite broader market challenges.
The landscape shifts. Early-stage deals dominate. AI-enabled startups capture 62% of funding. Value-based care enablement emerges as the hot sector.
Traditional health IT plays consolidate. New entrants focus on narrow, high-impact problems. Investors demand clear ROI paths from day one.
This guide profiles 35+ healthtech investors actively funding digital health startups.
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35 Best active healthtech investors
1. Rock Health
First dedicated digital health venture fund, now with advisory arm.
Investment focus: Digital health exclusively, pre-seed to Series A
Investment range: $500K-$5M initial check
Notable investments: Omada Health, Collective Health, 100+ portfolio
Contact: rockhealth.com
2. 7wire Ventures
Chicago-based fund investing in informed connected health consumers.
Investment focus: Digital health empowering patients, Series A focus
Investment range: $2M-$15M initial investment
Notable investments: Transcarent (unicorn), HomeThrive, 42 portfolio companies
Contact: 7wireventures.com
3. Define Ventures
Largest early-stage digital health fund with operational expertise.
Investment focus: Digital health transformation, seed to Series B
Investment range: $1M-$20M
Notable investments: FOLX Health, digital health category leaders
Contact: definevc.com
4. LRVHealth
Healthcare venture platform with health system connections.
Investment focus: Digital health, health IT, services technology
Investment range: Series A-B, $5M-$20M
Notable investments: Phreesia (IPO), IntelyCare, Olive
Contact: lrvhealth.com
5. Flare Capital Partners
Healthcare technology specialist with $350M latest fund.
Investment focus: Healthcare IT, digital health infrastructure
Investment range: Series A-C, $5M-$30M
Notable investments: Bright Health, HealthVerity, Aetion
Contact: flarecapital.com
6. Health Velocity Capital
Operator-led fund with payer/provider network.
Investment focus: Care delivery, behavioral health, labor enablement
Investment range: Series A-B, $5M-$25M
Notable investments: Digital health platforms with enterprise traction
Contact: healthvelocitycapital.com
7. Echo Health Ventures
Strategic fund backed by Cambia Health Solutions.
Investment focus: Early-stage healthcare technology
Investment range: Seed to Series B, $2M-$15M
Notable investments: Healthcare cost and quality improvement tools
Contact: echohealthventures.com
8. Healthy Ventures
Seed-stage digital health specialist.
Investment focus: Digital health infrastructure, care delivery innovation
Investment range: Seed, $500K-$2M
Notable investments: Marley Medical, Turquoise Health
Contact: healthy.vc
9. a16z Bio + Health
Andreessen Horowitz's dedicated healthcare fund.
Investment focus: Digital health, AI in healthcare, care delivery
Investment range: Seed to growth, $1M-$100M+
Notable investments: Most active digital health investor 2024 (26 deals)
Contact: a16z.com/bio-health
10. HealthTech Capital
Angel network focused on early-stage healthtech.
Investment focus: Digital health, health IT, medical software
Investment range: Pre-seed to seed, $250K-$1M
Notable investments: Portfolio attracted $1B+ follow-on funding
Contact: healthtechcapital.com
11. Transformation Capital
Growth equity for scaling healthtech companies.
Investment focus: Post-pilot businesses with real traction
Investment range: Series B+, $20M-$100M
Notable investments: DexCare, proven digital health platforms
Contact: transformcap.com
12. Zeal Capital Partners
Focused on value-based care innovation.
Investment focus: Medicaid, dual-eligible, specialty care tech
Investment range: Series A-B, $5M-$20M
Notable investments: Value-based care enablement platforms
Contact: zealcapitalpartners.com
13. Questa Capital
Healthcare services and technology investor.
Investment focus: Companies with strong unit economics
Investment range: Growth equity, $20M-$100M
Notable investments: Profitable healthtech businesses
Contact: questacapital.com
14. Virtue (Fka RH Capital)
Women's health focused fund by Rhia Ventures.
Investment focus: Reproductive and maternal health tech
Investment range: Seed to Series A, $250K-$1M
Notable investments: Femtech and women's health platforms
Contact: rhiaventures.com
15. GV (Google Ventures)
Alphabet's venture arm with healthtech practice.
Investment focus: AI-powered health, digital therapeutics
Investment range: Seed to growth
Notable investments: Healthtech leveraging Google ecosystem
Contact: gv.com
16. Bessemer Venture Partners
Multi-stage investor with digital health portfolio.
Investment focus: Cloud-based health platforms
Investment range: Series A to growth
Notable investments: Healthcare SaaS leaders
Contact: bvp.com
17. Oak HC/FT
Healthcare and fintech specialist.
Investment focus: Digital health, health IT, services tech
Investment range: Early to growth, $5M-$100M+
Notable investments: Athenahealth, Benefitfocus, Castlight Health
Contact: oakhcft.com
18. Lux Capital
Deep tech investor with healthtech focus.
Investment focus: Frontier health technologies
Investment range: Seed to growth
Notable investments: Breakthrough digital health solutions
Contact: luxcapital.com
19. Mayfield Fund
Early-stage technology investor.
Investment focus: Healthcare system transformation
Investment range: Seed to Series B
Notable investments: Patient care redefinition platforms
Contact: mayfield.com
20. Left Lane Capital
Growth equity for higher-acuity care.
Investment focus: Mental health, chronic care management
Investment range: Series B+, $20M-$100M
Notable investments: Talkiatry, AnswersNow
Contact: leftlanecapital.com
21. Polaris Partners
Healthcare and technology convergence investor.
Investment focus: Digital health across care continuum
Investment range: Early to growth stage
Notable investments: Healthcare technology transformations
Contact: polarispartners.com
22. Canaan
Early-stage investor with healthtech practice.
Investment focus: Digital health, health IT infrastructure
Investment range: Seed to Series B
Notable investments: Healthcare workflow automation
Contact: canaan.com
23. General Catalyst
Technology investor with major health initiative.
Investment focus: Health assurance model, digital health
Investment range: Seed to growth, $1M-$200M+
Notable investments: Livongo, Mindstrong, health platforms
Contact: generalcatalyst.com
24. Optum Ventures
UnitedHealth Group's strategic investment arm.
Investment focus: Healthcare delivery innovation, digital tools
Investment range: Series A+, $5M-$50M
Notable investments: 75+ digital health portfolio companies
Contact: optumventures.com
25. Blue Yard Capital
European fund backing healthtech challengers.
Investment focus: Blockchain health, decentralized care
Investment range: Pre-seed to Series A
Notable investments: European healthtech innovators
Contact: blueyardcapital.com
26. Redalpine Venture Partners
European VC disrupting traditional healthcare.
Investment focus: Tech-enabled health transformation
Investment range: Seed to Series B
Notable investments: European digital health leaders
Contact: redalpine.com
27. CRV (Charles River Ventures)
Early-stage investor with healthtech focus.
Investment focus: Digital health platforms, AI applications
Investment range: Seed to Series B
Notable investments: Consumer health technology
Contact: crv.com
28. Kleiner Perkins
Legendary VC with digital health practice.
Investment focus: Healthcare technology breakthroughs
Investment range: Early to growth stage
Notable investments: Digital health category creators
Contact: kleinerperkins.com
29. F-Prime Capital
Fidelity's venture arm with health focus.
Investment focus: Healthcare IT, digital therapeutics
Investment range: Early to growth stage
Notable investments: Health technology transformations
Contact: fprimecapital.com
30. Norwest Venture Partners
Multi-stage investor with health IT expertise.
Investment focus: Digital health, healthcare services tech
Investment range: Series A to growth, $10M-$100M
Notable investments: Diana Health, proven platforms
Contact: nvp.com
31. .406 Ventures
Boston-based digital health investor.
Investment focus: Healthcare IT, data platforms
Investment range: Series A-B, $5M-$20M
Notable investments: East coast healthtech leaders
Contact: 406ventures.com
32. HealthX Ventures
Madison-based digital health fund.
Investment focus: B2B healthtech, provider solutions
Investment range: Seed to Series A, $1M-$5M
Notable investments: Midwest healthtech ecosystem
Contact: healthxventures.com
33. First Analysis
Chicago growth equity firm.
Investment focus: Healthcare technology, outsourced services
Investment range: Growth stage, $10M-$50M
Notable investments: Sware, healthcare automation
Contact: firstanalysis.com
34. Flint Capital
International fund with healthtech focus.
Investment focus: Cross-border digital health
Investment range: Series A-B, $3M-$15M
Notable investments: Flo Health, Sensi.AI
Contact: flintcap.com
35. SV Health Investors
Transatlantic healthcare specialist.
Investment focus: Digital health addressing unmet needs
Investment range: Early to growth stage
Notable investments: Amwell, transformative platforms
Contact: svhealthinvestors.com
Non-dilutive funding options
Digital health accelerators
Y Combinator: Increasing digital health focus, $500K
Techstars Healthcare: Multiple programs annually
Cedars-Sinai Accelerator: Hospital-backed program
Rock Health: Beyond funding, provides industry connections
Government programs
NIH SBIR: $2M for digital health R&D
ARPA-H: New agency funding breakthrough health tech
State programs: Many states offer digital health grants
Strategic partnerships
Health systems increasingly invest directly. Payers launch innovation funds. Pharma seeks digital therapeutics partners.
Provider partnerships offer:
- Pilot sites
- Clinical validation
- Revenue guarantees
- Strategic investment
Recent wins and warnings
Momentum builders
Hinge Health: Digital MSK preparing IPO, validates the model
Sword Health: $30M primary raise at $3B valuation
Mental health consolidation: Talkiatry, Spring Health scaling fast
Market realities
B2C health remains challenging. D2C models pivot to B2B2C. Pure telehealth commoditizes.
Winners focus on:
- Specialty care (not primary)
- Clear clinical outcomes
- Multi-stakeholder value
- Sustainable unit economics
Why healthtech startups fail
Built for consumers, not enterprises. Beautiful app, impossible implementation.
Underestimated compliance burden. HIPAA was just the beginning.
No clear buyer. Everyone likes it, no one owns budget.
Competed on convenience alone. Teladoc already won that game.
How Ellty accelerates healthtech fundraising
Healthtech pitch decks need depth without complexity. ROI slides get maximum scrutiny.
Ellty reveals:
- Which investors understand enterprise health
- Time spent on integration architecture
- Who forwards to health system advisors
Healthtech founders using Ellty see:
- 2.8x higher response rates
- Faster identification of strategic investors
- Clear insights on deck optimization
FAQs
Q: B2C or B2B for healthtech?
B2B2C usually works best. Pure D2C rarely scales profitably.
Q: How long to close enterprise pilots?
6-12 months typical. Have 18-24 months runway.
Q: When to bring strategic investors?
Series A or later. They want proven product-market fit.
Q: Should we white-label for health systems?
Depends on your exit strategy. Limits direct scaling.
Q: How important is HIPAA compliance?
Table stakes. Also need SOC 2, HITRUST for enterprise.
