Funding for digital health startups was down by about half in 2022, with $15.3 billion in deals compared to $29.3 billion in 2021, a Jan. 9 report by Rock Health found.
Here are seven other things to know from the report.
1. The number of digital health deals decreased from 738 in 2021 to 572 in 2022.
2. The third quarter of 2022 was the slowest ($2.2 billion) since the fourth quarter of 2019 ($2.1 billion).
3. Megadeals of $100 million or more declined to 35 from 88 in 2021.
4. The top-funded deals of the year were DispatchHealth ($330 million), Biofourmis ($300 million) and TigerConnect ($300 million).
5. The number and dollar amount of series A deals grew in 2022, but series B, C, D and greater all fell.
6. The top-funded value proposition was on-demand healthcare ($2.4 billion) compared to research and development ($5.8 billion) in 2021.
7. Mental health was still the top-funded clinical indication, though funding dropped from $4.8 billion to $2.1 billion.