There were 173 venture capital deals in the digital health space during the third quarter of 2018, totaling $3.1 billion, according to a report by market research firm Mercom Capital Group. This marks a steady increase from one year prior, when venture capital deals totaled $2.4 billion.
The first nine months of 2018 have seen 556 venture capital deals, down from 586 deals during the same period last year. However, funding was 46 percent higher year over year, with digital health companies raising a record $8 billion in venture capital deals in the first nine months of 2018, up from $5.5 billion last year.
"For the first time, we saw funding cross $3 billion in a single quarter in digital health and funding raised year to date has already surpassed all of 2017 with a realistic chance of hitting $10 billion this year," Raj Prabhu, CEO of Mercom Capital Group, said in a statement.
Here were the six most-funded digital health segments during the quarter, according to the report:
1. Analytics: $889 million
2. mHealth apps: $504 million
3. Mobile wireless: $374 million
4. Telemedicine: $206 million
5. Wearables: 149 million
6. Social health networks: $148 million
To download Mercom Capital Group's report, click here.