Industry: Digital Health
Digital health investors
Investors in digital health now ask who pays before they ask about market size. Waveup turns your contracts, enrollment and outcomes data into a case they can test.
- Investor lists that mix specialist VCs, corporate funds and grants
- Decks and models built on buyer contracts and enrollment
- Waveup prepares investor materials for digital health companies: $3B+ raised for 600+ startups since 2014
In short
Who are digital health investors?
Digital health investors fund software, services and connected devices that change how care is given or paid for. They include specialist VCs, multi-stage funds, the venture arms of insurers and health systems, and grant programmes. US digital health startups raised $11.1B in 2026 to September. Most of these investors now check who pays before anything else.
- Who it's for
- Digital health companies selling to patients, clinicians, insurers or employers, pre-seed to Series D+
- What we build
- Investor deck, financial model, valuation, investor list, data room
- Prices
- Deck from $6,000, model from $3,000. Flat fees
- Track record
- $3B+ raised for 600+ startups since 2014
Market data checked on 5 November 2026. Sources are under each section.
What are investors funding in digital health in 2026?
Mostly AI that saves clinicians time, and tools that insurers, employers or hospitals already pay for. Money is back, but it lands in fewer and bigger rounds.
The opportunity
Clinicians, patients and payers all use more digital tools than they did a few years ago.
- Most US doctors now use AI in their practice
- Patients reach their records and data through apps
- Most buyers plan to keep or raise their digital health budgets
The problem
Much of the money goes to a few large rounds. In 2025, rounds above $100M took 42% of US digital health funding.
Market size
What market does digital health sell into?
In the US alone, health spending reached $5.3 trillion in 2024. Four shifts are moving more of that money to software and remote care:
- AI at work: 81% of US doctors used AI in their practice in 2026, more than double the 2023 rate
- Apps: 57% of people who used their online records did so through an app in 2024
- Wearables: 46% of people in Rock Health's 2025 consumer survey owned one
- Budgets: 64% of buyers in PHTI's 2026 survey raised digital health spending in the past two years
Venture capital
Is digital health venture capital back in 2026?
US funding peaked in 2021, fell three years in a row, and is now rising again. If 2026 keeps its pace, Rock Health projects more than $14.8B for the year.
average round in 2026 to September, up from $20.6M in 2024
of 2025 funding went to AI-enabled companies, up from 37% in 2024
digital health M&A deals in 2026 to September, on par with the same months of 2025
Who invests in digital health startups?
Specialist VCs, multi-stage funds, the venture arms of insurers and health systems, growth investors and federal grants. For more names, see our guide to healthcare venture capital firms.
Investor database
Healthtech investors in our database
The funds with the most healthtech investments. Pick a stage, or open a fund for its cheque sizes.
Top 5 by healthtech investments
Investments by industry
- Healthtech & Wellness48%
- Biotech24%
- Pharma21%
- Rounds
- Series ASeries BSeries C+
- Average cheque
- $500K–$1M$1M–$3M$3M–$10M$10M–$50M
- Based in
- New York, United States
- Invests in
- East Asia, USA
704 investments in total, 49 tagged Healthtech & Wellness.Open the full fund profile
Investments by industry
- Healthtech & Wellness42%
- Biotech26%
- Pharma18%
- Rounds
- SeedSeries ASeries BSeries C+
- Average cheque
- $100K–$500K$500K–$1M
- Based in
- Cambridge, United States
- Invests in
- Southeast Asia, USA
613 investments in total, 40 tagged Healthtech & Wellness.Open the full fund profile
Investments by industry
- Healthtech & Wellness56%
- Software & Apps12%
- AI & Deep Tech7%
- Rounds
- SeedSeries ASeries BSeries C+
- Average cheque
- $3M–$10M$10M–$50M
- Based in
- San Francisco, USA
- Invests in
- USA
83 investments in total, 38 tagged Healthtech & Wellness.Open the full fund profile
Investments by industry
- Healthtech & Wellness45%
- Biotech30%
- Pharma19%
- Rounds
- Series ASeries BSeries C+
- Average cheque
- $0–$100K$100K–$500K$500K–$1M$1M–$3M$3M–$10M
- Based in
- Menlo Park, United States
- Invests in
- Europe, USA, Canada
382 investments in total, 30 tagged Healthtech & Wellness.Open the full fund profile
Investments by industry
- Software & Apps36%
- AI & Deep Tech17%
- Healthtech & Wellness16%
- Rounds
- SeedSeries ASeries BSeries C+
- Average cheque
- $3M–$10MOver $50M$10M–$50M
- Based in
- Boston, United States
315 investments in total, 27 tagged Healthtech & Wellness.Open the full fund profile
From our investor database.
Where do digital health raises get stuck?
Our Fundraising 2025 study asked 56 VCs why they say no. Revenue growth and unit economics topped the list. In digital health, both depend on buyers who want proof before they pay.
Buyers pay for results
Many buyers tie fees to outcomes. In PHTI's 2026 survey, 68% of employers used performance-based contracts.
What investors ask
- How much of your revenue depends on hitting outcome targets?
What your deck shows
- Outcomes data a paying buyer has accepted
- The share of fees at risk, contract by contract
Low enrollment
A signed contract does not mean patients use the product. In 2026, 47% of buyers enrolled no more than a quarter of eligible members.
What investors ask
- How many eligible people sign up, and how many stay?
What your deck shows
- Enrollment and retention for each customer
- Revenue per enrolled member, not per contract
Short contracts
Buyers sign short deals and review them often. 71% of buyers in PHTI's survey had contracts of two years or less.
What investors ask
- How much of next year's revenue is already under contract?
What your deck shows
- Renewal rates by buyer type
- Contracted revenue for the next 12 months
No IPO window
No US digital health company has gone public since HeartFlow in August 2025. Exits now come mostly through sales to other companies.
What investors ask
- Who would buy this company, and why?
What your deck shows
- A short list of likely buyers and their reasons
- A plan that works without a quick exit
How we help you raise
Flat fees agreed before we start. No success fee on advisory work.
Who pays, what they pay for and your proof, in plain words.
Contracts, enrollment, fees at risk and runway in one model.
A range set against digital health deals and listed peers.
Specialist funds, corporate VCs and grants that fit your stage.
Contracts, outcomes data and privacy files, ready for review.
For a sale to an insurer, a provider or a larger platform.
Who we are
Waveup is a London-based fundraising and growth advisory, working in 60+ countries and 90+ industries. Since 2014 we have built the decks, models, CIMs and valuations behind $3B+ raised for 600+ startups. In healthtech, Waveup prepared the investor materials for Aumet's $7M pre-Series A round.
About usDigital health investors FAQ
Which investors back digital health startups right now?
How do digital health startups get funding?
How much venture capital goes into digital health in 2026?
What do investors look for in a digital health startup?
Is digital health M&A picking up in 2026?
How much does help with a digital health raise cost?
Industries we work with
Healthtech
- Healthtech
- Dental
- Digital Health
- Mental Health and Psychology
- Telehealth
Related industries
Raising for a digital health company?
Tell us your stage and who pays for your product. Once the round closes, we stay on for the brand, website and sales materials.
