Three rounds of funding in the healthcare tech at once
Published: 1/15/2025
Healthcare is a Klondike for startups in 2024 and 2025. Three healthcare startups have received good funding in the last few days.
1) Grove ($4.9M, Jan 7). This startup helps optimize and minimize efforts for clinical trials. They created an AI assistant named Grace that communicates with people participating in medical research trials, engaging and informing them providing necessary support for clinical trials. While this might seem like a small market, Grove successfully raised $4.9 million from several investors including A*, Afore Capital, LifeX Ventures, Pear VC, and Upfront Ventures. Grove - https://www.grovetrials.com.
2) Qualified Health ($30 million, Jan 8). This startup is working on something interesting - they're building an infrastructural platform to help doctors and hospitals use AI tools more easily. While they don't have a finished product yet, their goal is to combine healthcare knowledge with AI technology to create tools that medical professionals can actually use. Even though their product is still in development, they've managed to raise $30 million from investors including SignalFire, Healthier Capital, Town Hall Ventures and Frist Cressey Ventures. Qualified Health - https://www.qualifiedhealthai.com.
3) Red Rover Health ($4M, Jan 8). You probably familiar with Electronic Health Records or EHR. This startup organisations and doctors connect their patient record systems with other medical software providing a secure access to patient’s EHRs. Since healthcare data needs to be kept very secure, the company got an important security certification called SOC 2 Type 2 in December 2024. This helped them get $4M in funding from NewShore Partners. Red Rover - https://redrover.health.
In summary, there were three funding rounds in healthcare tech during the last few days. Obviously, much more will come this year. By the way, here's a small piece of advice if you're thinking of building a healthcare startup:
- Have people with strong healthcare expertise on board;
- Think about necessary certifications in advance (it's a painful part);
- Consider registering a .health domain name since all good .ai domain names are mostly taken.