As much of the world prepares for the possibility of a coronavirus-driven recession, a new report suggests that some digital health startups scored a critical infusion of cash just in the nick of time.
Rock Health — a digital-health-focused venture fund — released a report Monday showing that such startups raised a record-breaking $3.1 billion from investors between January 1 and March 31, 2020. The funding, which took place over roughly 100 deals, is more than double the total first quarter funding seen in any previous year.
“This being bigger than ever is not indicative of the future, it’s indicative of the past,” Bill Evans, Rock Health CEO and managing director, told STAT. Most of the deals detailed in the report were finalized long before the coronavirus became a worldwide crisis.