42 Healthcare Startups to Watch (2022)

by Josh Howarth - June 3, 2022

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The healthcare industry is increasingly digital-first. 

From the increasing use of data-based decision making, growing acceptance of telehealth, to the integration of AI into diagnosis, the healthcare space is rapidly being integrated with technology.

In this post, we’ll profile 42 healthcare startups that are innovating by launching new products, targeting specific health needs, and providing care in new and innovative ways.

1. SonderMind

5-year search growth: 3233%

Search growth status: Exploding

Year founded: 2014

Location: Denver, Colorado

Funding: $183M (Series C)

What they do: SonderMind offers technology that pairs individuals with therapists that meet their individual mental health needs. Features of their platform include quick matching and schedule coordination for individuals and administrative tools to help therapists provide services and engage with patients. Co-founders Sean Boyd and Mark Frank started SonderMind based on their experiences with the clinician and patient sides of a flawed mental healthcare system.

2. Lyra Health

5-year search growth: 733%

Search growth status: Exploding

Year founded: 2015

Location: Burlingame, California

Funding: $910.1M (Series F)

What they do: Lyra Health is a healthcare platform that helps employers provide their employees with mental health resources. The unicorn startup, founded by Facebook’s former CFO David Ebersman, was valued at over $1B in 2020 after bringing in $110M from a list of investors that included former Starbucks CEO Howard Schultz.

3. TytoCare

5-year search growth: 275%

Search growth status: Peaked

Year founded: 2012

Location: New York City, New York

Funding: $156.7M (Series D)

What they do: TytoCare offers telehealth services powered by artificial intelligence. Their platform enables patients to receive complete medical examinations, plus diagnoses and prescriptions, from home. The recent increase in demand for telehealth services powered TytoCare’s growth in 2020 and caused a considerable revenue increase. TytoCare achieved more financial milestones in 2021 with a $50M investment round and soaring valuation.

4. Meru Health

5-year search growth: 61%

Search growth status: Peaked

Year founded: 2016

Location: San Mateo, California

Funding: $53.3M (Grant)

What they do: Meru Health is a healthcare company focused on providing individuals with mental health resources in the form of an online program supported by individual therapy and support groups. In 2019, the company launched a biofeedback device to help people learn how to control their breathing. Slack, Y Combinator, and others contributed a total of $8.1M in their most recent Series A funding round in 2020.

5. Modern Fertility

5-year search growth: 916%

Search growth status: Exploding

Year founded: 2017

Location: San Francisco, California

Funding: $22M (Series A)

What they do: Modern Fertility focuses on the female healthcare space, bringing women unprecedented access to reproductive health and fertility tests. Co-founders Afton Vechery and Carly Leahy started the company after witnessing the expensive and hard-to-access resources for female fertility testing. Kirsten Green of Forerunner Ventures, the leader in a Series A funding round, joined the company’s board in 2019, adding her experience crafting B2C brands, such as Warby Parker, Glossier, and Dollar Shave Club.

6. embleema

5-year search growth: 100%

Search growth status: Peaked

Year founded: 2017

Location: New York City, New York

Funding: $3.7M (Non-Equity Assistance)

What they do: embleema’s secure network gives patients control of their own medical information, allowing them to share access to it with healthcare clinicians and scientists and receive cryptocurrency payments for it if they wish. In 2019, healthcare IT company Pharmagest Group gained 15% ownership of the blockchain startup with hopes to expand healthcare options for their European customer base.

7. Headspace

5-year search growth: -21%

Search growth status: Peaked

Year founded: 2010

Location: Santa Monica, California

Funding: $215.9M (Secondary Market)

What they do: Headspace is a meditation and wellness app that provides users with guided meditations, resources to promote better sleep, and more. Former Buddhist month Andy Puddicombe and Richard Pierson, who came from an advertising background, founded the company in 2010. Since its inception, the company has gained over $200M in investments and has been leveraged by researchers in multiple clinical trials.

8. nference

5-year search growth: 146%

Search growth status: Exploding

Year founded: 2013

Location: Cambridge, Massachusetts

Funding: $145M (Series Unknown)

What they do: nference aims to help healthcare professionals leverage insights from vast quantities of existing biomedical knowledge through their software. According to nference CEO/co-founder Murali Aravamudan, the company was created in order “to improve patient outcomes by unlocking insights in biomedical data while protecting individual patient privacy.” Based in biotechnology hub Cambridge, this company has received investments from a number of companies, including Mayo Clinic Ventures, the investment arm of Mayo Clinic, which has partnered with nference on their Clinical Data Analytics Platform.

9. Novoic

5-year search growth: -51%

Search growth status: Peaked

Year founded: 2019

Location: London, England

Funding: $2.6M (Seed)

What they do: Novoic aims to achieve earlier detection of neurological diseases through their AI-driven technology, which can detect variances in speech patterns that surface in individuals who experience Parkinson’s, Alzheimer’s, and other diseases years later. Their initial seed funding round brought in £2M from APEX Ventures, Anthemis Exponential Ventures, and others.

10. Aunt Bertha

5-year search growth: 164%

Search growth status: Regular

Year founded: 2010

Location: Austin, Texas

Funding: $49M (Series D)

What they do: Aunt Bertha is a technology platform that helps to match people with social services resources that fit their unique needs. The company’s network now includes 1,000+ social services options in every U.S. county and has helped over 4M users since its 2010 inception. Founder Erine Gray, who has a Public Affairs Master’s degree and experience as a developer and city project manager, first experienced an inefficient social services system as a child watching his mother struggle to get care after a brain-damaging case of encephalitis.

11. Paige.ai

5-year search growth: 700%

Search growth status: Peaked

Year founded: 2018

Location: New York City, New York

Funding: $220M (Series C)

What they do: Paige uses AI technology to fight the growth of cancer diagnoses and a simultaneous drop in trained pathologists. Their AI technology helps to provide medical workers with the data they need to precisely diagnose occurrences of cancer and assists companies in the life sciences space with producing better therapies. Their board includes professionals from the Memorial Sloan Kettering Cancer Center, Yale University School of Medicine, and other institutions.

12. Beddr

5-year search growth: 400%

Search growth status: Peaked

Year founded: 2016

Location: Mountain View, California

Funding: $5.6M (Series A)

What they do: Beddr is a sleep health company that helps people understand and treat their sleep issues with the Sleep Tuner, a medical wearable, plus coaching, sleep tests, and more. The company has received multiple commendations, including being named “Sleep Monitoring Solution of the Year” in the 2020 IoT Breakthrough Awards. This year, the company completed a Series A funding round with contributions from Three Leaf Ventures (lead investor), Delta Dental Washington Seed Fund, and others.

13. Wellframe

5-year search growth: 562%

Search growth status: Regular

Year founded: 2011

Location: Boston, Massachusetts

Funding: $45.2M (Series C)

What they do: Wellframe helps healthcare professionals extend crucial care to their patients through technology once they leave the hospital or clinic. The platform features chat functionality, task management capabilities, and personalized content programs. The company secured the financial assistance of BlueCross BlueShield’s investment arm in a 2019 $20 million Series C funding round.

14. Komodo Health

5-year search growth: 182%

Search growth status: Exploding

Year founded: 2014

Location: San Francisco, California

Funding: $314M (Series E)

What they do: Komodo Health uses its “Healthcare Map” and related technology to follow millions of patient healthcare journeys, with the primary objective of bettering the quality and application of care in the medical ecosystem. The technology company acquired cloud computing business Mavens in early 2021 to increase the capabilities of their software platform.

15. VillageMD

5-year search growth: 919%

Search growth status: Exploding

Year founded: 2013

Location: Chicago, Illinois

Funding: $491M (Corporate Round)

What they do: VillageMD is a primary care healthcare company that helps doctors provide better, more cost-effective treatment for their patients through the right combination of operational support and technology. VillageMD entered into a partnership with Walgreens in 2020 when the pharmacy company invested $1B in VillageMD to build out a network of medical clinics available within Walgreens locations.

16. PlushCare

5-year search growth: 247%

Search growth status: Exploding

Year founded: 2015

Location: San Francisco, California

Funding: $31M (Series B)

What they do: PlushCare is a telehealth company connecting patients with doctors to address physical and mental health needs. The company boasts phone-based care, $99 appointments, and a network of trained medical professionals. Accolade, a business based on guiding patients through healthcare options, recently acquired PlushCare after the two companies partnered to provide COVID-19 focused care in 2020.

17. DispatchHealth

5-year search growth: 554%

Search growth status: Regular

Year founded: 2013

Location: Denver, Colorado

Funding: $403.2M (Series D)

What they do: DispatchHealth provides in-home healthcare services. Through the company’s app, website, or by phone, patients can request home medical visits for issues that are urgent or otherwise, after which a trained medical team will arrive at the location and offer the necessary treatment. This year, Dispatch Health brought in $200M in funding and expanded its services to deliver at-home radiology.

18. Breathe99

5-year search growth: 0%

Search growth status: Peaked

Year founded: 2018

Location: Minneapolis, Minnesota

Funding: Undisclosed (Non-equity Assistance)

What they do: Breathe99 is the company behind the B2 Mask, a sleek, easy-to-wear respirator mask. The company, whose mask can be used to protect the wearer from allergens, pollution, and more, has only received funding through Kickstarter and philanthropic loans thus far but is eyeing FDA authorization. As of this article, Breathe99 had raised nearly half a million dollars on Kickstarter.

19. PatientPop

5-year search growth: 14%

Search growth status: Peaked

Year founded: 2014

Location: Santa Monica, California

Funding: $125M (Series C)

What they do: PatientPop offers a technology platform for healthcare practices to market their services, grow their patient base, track online sentiment around their company, provide more streamlined patient experiences, and more. PatientPop was founded by Luke Kervin and Travis Schneider, who previously worked together at ShopNation and StarBrand Media, both of which were later acquired by large media companies.

20. Hinge Health

5-year search growth: 1285%

Search growth status: Exploding

Year founded: 2015

Location: San Francisco, California

Funding: $1B (Series E)

What they do: Hinge Health is a healthcare company in the musculoskeletal space that delivers at-home physical therapy services through wearable body tracking devices and virtual communication with physical therapists and other healthcare professionals. Hinge concluded a $300M funding round in early 2021 as is now valued at $3B.

21. Tempus

5-year search growth: 450%

Search growth status: Regular

Year founded: 2015

Location: Chicago, IL

Funding: $1.1B (Debt Financing)

What they do: Tempus is a healthcare data analytics platform designed to improve precision medicine through AI. The organization has recently been collaborating with academic medical institutions throughout the US for their new Tempus N+ program, which aims to augment mental health medicine solutions using real-world data.

22. CareRev

5-year search growth: 7900%

Search growth status: Regular

Year founded: 2015

Location: Los Angeles, CA

Funding: $51.3M (Series A)

What they do: CareRev is an online marketplace platform that directly connects healthcare facilities with medical professionals. The solution allows organizations to reduce labor costs, providing workers with the freedom to choose and set their own hours. The company is highly profitable, generating as much as $100 million in revenue per year with over 30 hospitals/health systems, 500 outpatient centers, and 11,000 healthcare professionals. 

23. Calm

5-year search growth: 147%

Search growth status: Regular

Year founded: 2012

Location: San Francisco, CA

Funding: $218M (Series C)

What they do: Calm is a sleep, meditation, and relaxation app designed to improve overall mental health. The platform provides audio content, stories, and programs on topics such as anxiety, stress, insomnia, and sleep. Calm has soared these past few years and is currently valued at $2 billion with over 4 million paid users.

24. FOLX Health

5-year search growth: 6700%

Search growth status: Regular

Year founded: 2019

Location: Boston, MA

Funding: $29.4M (Series A)

What they do: FOLX Health is a telehealth startup that provides services for the LGBTQIA+ community. FOLX was founded with the intention of removing healthcare barriers for the LGBTQIA+ population as many transgender people face discrimination when seeking help. The company offers unlimited virtual access to clinicians, delivers at-home tests, provides hormone replacement therapy, and has various other forms of testing to ensure the health of the queer community. Although a fairly new company, FOLX has its sights set on expanding to all 50 states. 

25. eHealth Technologies

5-year search growth: 112%

Search growth status: Peaked

Year founded: 2006

Location: Rochester, NY

Funding: $46.7M (Series Unknown)

What they do: eHealth Technologies has created an intelligent medical record built to retrieve, store, digitize, and secure patient records, enabling medical professionals to have access to important records instantaneously. Since 2006, the company has worked closely with over 100 of the nation's top hospitals and has helped over 2.2 million patients receive prompt care.

26. Devoted Health

5-year search growth: 2466%

Search growth status: Exploding

Year founded: 2017

Location: Waltham, MA

Funding: $2B (Series D)

What they do: Devoted Health is a healthcare company that offers personalized patient care through medical plans. Some of the plans feature personal guides, contracts, and Medicare advantages, enabling beneficiaries with access to a network of doctors. With a focus on making healthcare affordable and easier for patients, the company has had great success in its 5-year run. Most recently, Devoted Health closed an astounding $1.23 billion Series D funding round.

27. Insitro

5-year search growth: 3700%

Search growth status: Peaked

Year founded: 2018

Location: San Francisco, CA

Funding: $743M (Series C)

What they do: Insitro is a medicine development organization that uses AI/ML to transform the way that drugs are discovered and delivered to patients. The company announced the formation of a Scientific Advisory Board (SAB), bringing in additional expertise for fields such as gene editing, genetics, genomics, and molecular design. The team was formed with the intention of advancing Insitro’s technology and drug programs.

28. Carbon Health

5-year search growth: 300%

Search growth status: Peaked

Year founded: 2015

Location: San Francisco, CA

Funding: $522.5M (Secondary Market)

What they do: Carbon Health is a mobile-based network that connects healthcare providers to patients through various channels with a mission of making healthcare accessible to everyone. Despite the pandemic, the company doubled its full-time staff, opened over 80 clinics, and expanded their virtual care services to 23 states. The company is showing no signs of slowing down soon and with their most recent funding round of $350 million, Carbon Health plans to open 1,500 clinics across the nation by 2025.

29. Medable

5-year search growth: 1014%

Search growth status: Exploding

Year founded: 2012

Location: Palo Alto, CA

Funding: $506.6M (Series D)

What they do: Medable is a cloud-based healthcare platform designed to streamline clinical trials and provide efficient therapies to patients. Medable’s back-end consists of modules, analytics, collaboration, and research surveys that adhere to the compliance of the healthcare sector, allowing for their virtual approach. Additionally, the company supports over 150 decentralized and hybrid trials throughout 60 countries.

30. Kriya Therapeutics

5-year search growth: 99X+

Search growth status: Exploding

Year founded: 2013

Location: Cambridge, MA

Funding: $450.5M (Series C)

What they do: Kriya Therapeutics is a gene therapy startup that develops remedies for biological diseases. The company recently raised Series C funding, which they intend to use to advance their pipeline, along with the scaling of their engineering, manufacturing, and computational platforms. Kriya is well-positioned to continue bringing solutions to various diseases as their manufacturing infrastructure and their design toolkit are both in-house.

31. Parachute Health

5-year search growth: 4900%

Search growth status: Exploding

Year founded: 2014

Location: Princeton, NJ

Funding: $15.4M (Series Unknown)

What they do: Parachute Health is a medical equipment ordering platform that ensures prompt and on-time delivery. The company offers healthcare providers a streamlined approach to eliminate unnecessary busy work while reducing errors and increasing clinician efficiency. According to their website, the company supports over 40,000 clinical facilities, has 2,000 supplier locations, and provides over 10,000 products and services.

32. BetterUp

5-year search growth: 550%

Search growth status: Peaked

Year founded: 2011

Location: San Francisco, CA

Funding: $566.9M (Series E)

What they do: BetterUp is an online coaching platform that assists professional workers through skill development. The company primarily offers one-on-one guidance sessions and provides actionable insights, enabling employees to improve their mindset and leadership skills. According to BetterUp’s reports, they’ve found that individuals who partake in their services see a 130% increase in job performance.

33. WorkIt Health

5-year search growth: 393%

Search growth status: Regular

Year founded: 2014

Location: Ann Arbor, MI

Funding: $138.2M (Series C)

What they do: WorkIt Health is an online addiction recovery program that assists patients by delivering personalized virtual care. The platform is powered by patient engagement and clinical data which provides unique paths to recovery, allowing patients to receive the care they need from their homes. The pandemic not only heightened the use of substances, but along with that, closed many rehabilitation centers down. This has led to the recent explosion of not only the telehealth sector but WorkIt Health in particular.

34. Brightline

5-year search growth: 500%

Search growth status: Exploding

Year founded: 2019

Location: Palo Alto, CA

Funding: $209M (Series C)

What they do: Brightline is a behavioral telehealth platform that supports children, teens, and families through interactive education, therapy, coaching, and skill-building exercises. The company recently announced a partnership with Peer Health Exchange in hopes to expand Brightline’s teen program by offering more tools and coaching to this demographic. This partnership is highly anticipated as recent studies have shown that teens are facing mental health crises more often.

35. Vori Health

5-year search growth: 4500%

Search growth status: Regular

Year founded: 2020

Location: New York, NY

Funding: $50M (Series A)

What they do: Vori Health specializes in personalized patient care in an effort to prevent unnecessary procedures. Vori focuses on patients experiencing muscle and joint pain and assigns a care team to patients. After careful diagnosis, the team will eventually connect the patient with a physical therapist in hopes to avoid surgery and lead to a faster recovery. In February, the New York City Health Business Leaders recognized Vori Health on its NYC Digital Health 100 which showcases some of the top innovative startups in New York.

36. Circulo Health

5-year search growth: 314%

Search growth status: Regular

Year founded: 2020

Location: Columbus, OH

Funding: $50M (Series A)

What they do: Circulo Health is a medical insurance platform that supports the United States underprivileged population by providing tech-enabled care. The company recently acquired Huddle Health in hopes to offer more personalized care to patients through Huddle’s human-first care model and bring better overall health to the community.

37. Covera Health

5-year search growth: 2000%

Search growth status: Peaked

Year founded: 2017

Location: New York, NY

Funding: $59.9M (Series C)

What they do: Covera Health analyzes clinical datasets using AI-powered systems to discover and drive emerging science information, therefore reducing unnecessary healthcare spending. Covera’s goal intends to solve one of healthcare’s most pressing issues, ensuring patients receive the right diagnosis at the correct time.

38. Rightway

5-year search growth: 4700%

Search growth status: Regular

Year founded: 2017

Location: New York, NY

Funding: $130M (Series C)

What they do: Rightway is a healthcare advocacy platform built to optimize health expenditures for employers and employees. The organization provides insights and identifies cost-saving options, ensuring individuals receive affordable care providers. The company recently received their HITRUST CSF SOC 2 Certification, which highlights that the company has met key regulations and met industry-standard requirements for ensuring patient data privacy.

39. Lyfegen

5-year search growth: 4700%

Search growth status: Regular

Year founded: 2018

Location: Basel, Switzerland

Funding: $2.9M (Non-Equity Assistance)

What they do: Lyfegen is a SaaS healthcare platform that collects, analyzes, and reconciles data to automate value-based contracting. The company enables hospitals, health insurance agencies, medical device, and pharmaceutical companies to effectively scale and improve patient health outcomes. In 2021, the organization partnered with Johnson & Johnson in hopes to support their clinics with value-based healthcare at a lower cost.

40. Medely

5-year search growth: 191%

Search growth status: Exploding

Year founded: 2015

Location: Santa Monica, CA

Funding: Undisclosed (Seed)

What they do: Medely is an on-demand staffing marketplace for the healthcare sector. The company enables hospitals to continuously have a steady workforce, while giving medical staff the flexibility to choose when and how much they work. Medely is highly regarded as one of the largest workforce management platforms in the healthcare industry as they continuously provide well paid jobs to medical professionals.

41. Trusted Health

5-year search growth: 509%

Search growth status: Exploding

Year founded: 2017

Location: San Francisco, CA

Funding: $174.5M (Series C)

What they do: Trusted Health is an online employment platform that assists in the facilitation of hiring nurses for healthcare companies. Trusted Health offers a streamlined approach in the application process by digitizing, saving, and managing resumes, while providing real-time updates to nurses for new opportunities. With their recent $150 million funding round, the company plans to invest in the rollout of a new platform called Works which assists in filling and finding shifts for nurses.

42. HealthSherpa

5-year search growth: 166%

Search growth status: Peaked

Year founded: 2012

Location: Sacramento, CA

Funding: $6.6M (Series Unknown)

What they do: HealthSherpa has created a health insurance enrollment platform dedicated to assisting consumers in finding a suitable plan to fit their budget and needs. The organization services over 45,000 insurance agents, supports over 40 insurance carriers, and has over 9 million Americans enrolled in the Affordable Care Act coverage.

Conclusion

Among the 42 companies on our list, a few clear trends that stand out. The first trend is an increased focus on mental health care, which coincides with a growing rate of mental illnesses and related concerns.

The second trend centers around the idea of more convenient healthcare options, including telehealth, at-home health, and accessible healthcare. According to McKinsey & Company data, telehealth usage has grown 35% since 2019, largely prompted by the coronavirus pandemic.

In light of these societal shifts and an overall move toward digitization, these 42 healthcare startups have the potential to influence health and wellness in a big way over the next few years.

Written By
Josh Howarth
Co-founder of Exploding Topics.
548 Market St. Suite 95149
San Francisco, California
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