Rock Health Funding Reports
Rock Health publishes quarterly, midyear, and year-end funding reports which analyze trends in healthcare investment activity. These reports cover traditional funding metrics such as deal size and funding activity while providing specific insights from Rock Health’s network of investors and digital health experts. Rock Health’s Funding Reports are their most widely read and cited publications.
Q3 2022 digital health funding: The market isn’t the same as it was
Published: October 3, 2022
Given the year’s choppy venture waters and public market correction, investors are holding back from the market, waiting to strike once things stabilize. Q3’s low funding numbers—the lowest quarterly funding total in the past 11 quarters—reflect that sentiment. Yet, even though the market isn’t the same as it was, this quarter has featured some standout digital health activity, including major acquisitions by Amazon and CVS, and Akili’s SPAC close, this year’s first digital health public exit.
As we enter the last 90 days of 2022, a few key themes have emerged throughout Q3: 1) smaller checks across the board, 2) a focus on early-stage funding, 3) reprioritization of technology investments, and 4) an exit market that’s beginning to thaw. Each hints at the type of activity we may see in Q4 and the early days of 2023. In this piece, we’ll recap Q3’s venture funding and public market activity, with an eye toward what these movements signal for the last quarter of the year.
Rock Health Digital Health Consumer Adoption Reports
Through years of research, Rock Health identified the consumer space in digital health as one of the most challenging categories for investors. In 2015, Rock Health launched a landmark consumer adoption survey to help provide investors and stakeholders with greater insights into this challenging area. The survey has continued on an annual basis with findings generally published in the summer.
Digital Health Consumer Adoption of Telemedicine in 2021
Nearly two years into the COVID-19 pandemic, more consumers have used telemedicine than ever before. Venture investment in telemedicine is up, and big and small players are making land grabs for their share of the market, with many rolling out virtual–first care offerings. So with these accelerants—balanced with the full return of in-person care—what’s the state of telemedicine?
To answer this question and many more, we have surveyed U.S. adults every year since 2015 to check in with consumers and their relationship to digital health. Rock Health’s Digital Health Consumer Adoption Survey (hereto referred to as the “Survey”) is a U.S. Census-matched sample of adults age 18 and over—with a distinct group of adults surveyed each year. Respondents used their personal desktop, laptop, smartphone, or tablet to complete the survey in English. In both 2020 and 2021, 7,980 U.S. adults were surveyed each year in the summer to fall timeframe; in previous years, we surveyed approximately 4,000 U.S. adults annually. For statistical analyses, we used logistic regression to determine the association between a primary predictor and outcome of interest, controlling for covariates (i.e., confounders) in multivariate regression analysis.