The 10 Most Funded Digital Health Companies, Ever
Every year, billions of venture dollars are poured into U.S. digital health startups with the hopes of rich returns. These companies promise to “disrupt”, “redefine”, and “transform” healthcare as we know it. Some go on to do just that, while others have failed to live up to their hype.
I wanted to take a look at the companies that have raised the most funding (thanks Rock Health team for pulling this data!) and see where they are today. This post will look at the top ten highest-funded digital health startups: Devoted Health, Oscar Health, Oura, Tempus, Ro, Peloton, Jawbone, Hinge Health, Lyra Health, and Olive. Let’s go!
Devoted Health
Total funding: $2.3B
Latest valuation: $13B (2025)
V/F Ratio: 5.7×
Year founded: 2017
Status: Private
Location: Waltham, MA
About: Devoted Health offers Medicare Advantage plans with a focus on care coordination and technology-enabled support. With a $13 billion valuation, it’s the most valuable private digital health company today.
Oscar Health
Total funding: $1.6B
Latest valuation: $5.53B (Oct. 2025)
V/F Ratio: 3.5×
Year founded: 2012
Status: Public
Location: New York, NY
About: Oscar is a health insurance company focused on technology-driven member engagement. After years of heavy losses, the company has shown improving margins and investor confidence is slowly returning.
Oura
Total funding: $1.5B
Latest valuation: $11B (2025)
V/F Ratio: 7.3×
Year founded: 2013
Status: Private
Location: Oulu, Finland / San Francisco, CA
About: Oura’s smart ring tracks sleep, activity, and physiological metrics. Its massive valuation reflects consumer appetite for wearable health tech and potential applications beyond wellness.
Tempus
Total funding: $1.3B
Latest valuation: $16.16B (March 2025)
V/F Ratio: 12.4×
Year founded: 2015
Status: Public
Location: Chicago, IL
About: Tempus uses AI to personalize cancer care through large-scale molecular and clinical data analysis. It went public in 2024 and remains a standout in precision medicine.
Ro (previously Roman)
Total funding: $1.0B
Latest valuation: $7B (2023)
V/F Ratio: 7.0×
Year founded: 2017
Status: Private
Location: New York, NY
About: Ro began as a men’s health platform and evolved into a vertically integrated telehealth company offering diagnostics, telemedicine, and pharmacy delivery. It has served more than 1.5 million patients.
Peloton Interactive
Total funding: $976M
Latest valuation: $3.16B (March 2025)
V/F Ratio: 3.2×
Year founded: 2012
Status: Public
Location: New York, NY
About: Peloton’s connected fitness model boomed during the pandemic but later contracted sharply. While still public, the company is working to stabilize its subscriber base and diversify its product line.
Jawbone
Total funding: $948M
Latest valuation: $0
V/F Ratio: —
Year founded: 1999
Status: Deadpool
Location: San Francisco, CA
About: Jawbone was once a pioneer in wearables, but mismanagement, competition, and execution challenges led to its demise. Despite nearly $1B in funding, it shut down in 2017.
Hinge Health
Total funding: $841M
Latest valuation: $6.2B (2021)
V/F Ratio: 7.4×
Year founded: 2015
Status: Private
Location: San Francisco, CA
Hinge Health offers digital musculoskeletal care combining sensor-guided exercise, behavioral therapy, and coaching. It continues to grow steadily and has avoided major layoffs or restructuring.
Lyra Health
Total funding: $915M
Latest valuation: $5.58B (2022)
V/F Ratio: 6.1×
Year founded: 2015
Status: Private
Location: Burlingame, CA
About: Lyra provides mental health benefits to employers through its digital platform and therapist network. It remains a top performer in the employer benefits space, with strong employee satisfaction and retention.
Olive AI (previously CrossChx)
Total funding: $855M
Latest valuation: $0
V/F Ratio: —
Year founded: 2012
Status: Deadpool
Location: Columbus, OH
Olive once promised to automate healthcare’s back office using AI. Despite reaching a $4B valuation at its peak, the company shut down in 2023 amid operational and cultural turmoil.
What do these companies have in common?
Capital outcomes: 30% are active private companies, 50% are publicly traded, and 20% have shut down. None have been acquired—likely because valuations this high leave few acquirers.
Longevity: The average company age is 12 years, with a median of 10 years.
Leadership: 100% are run by male CEOs, which is not a surprise as we know women face systemic barriers when fundraising.
Geography: Four are in Silicon Valley, three in New York, one in Boston/Cambridge, one in Chicago, and one in Columbus.
Business models: From D2C (Ro, Oura, Peloton, Jawbone) to B2B2C (Lyra, Hinge, Oscar) to B2B (Tempus, Devoted).
