The Definitive List of Digital Health Unicorns
A startup unicorn refers to a privately held startup with a valuation of over $1 billion. The term "unicorn" was coined by VC (and lead investor in my last startup!) Aileen Lee in 2013 to represent what was at that time a rare achievement. Now, it’s a little more common, and today, there are over 80+ active privately-held digital health unicorns.
A business only has a 0.00006% chance of becoming a unicorn. For those who do become a unicorn, it takes, on average, seven years from founding to achieve this valuation.
For venture-backed startups, the chances are a little better: a venture-backed seed-stage startup has an estimated 2.5% chance of becoming a unicorn.
Since 2016, I’ve kept a list of digital health companies, including those valued at over $1 billion, M&A (over $100 million), and those that are publicly traded. I’m happy to share the list of unicorns below. You can also support my work and download it here. The full spreadsheet includes much, much more.
A couple of things to note:
A company is typically given a valuation during a major financial event, like a venture capital raise, acquisition, or IPO (between these events, companies do internal valuations— called 409A valuations—to price employee stock options, but these rarely become public and are generally much lower)
Some companies proudly announce their valuations, especially when reaching unicorn status, while others choose to keep their funding rounds and valuations private
A company might announce reaching a $1 billion valuation but later raise money at a lower valuation without making it public—meaning some "unicorns" in our data may no longer be worth $1 billion
This list, based on public data, shows clear patterns but may not capture every detail
So, without further adieu, here’s the current list of privately held digital health unicorns as of October 2025:
Abridge
Aledade
Ambience
Bellabeat
Benchling
Biofourmis
Blink Health
Cadence
Calm
Judi Health
Capsule
Carbon Health
Caris Life Sciences
Cedar
Cerebral
Chapter
Cityblock Health
Clarify Health
Clipboard Health
Collective Health
Color
Commure
Concert AI
Datavant
Devoted Health
Disbatch Health
Doc.com
Elemy
Epic
Everly Health
Evidation Health
Flo Health
Formation Bio
Freenome
Function Health
Headspace
Headway
Healthcare.com
Heartflow
Hioppocratic AI
Honor
Included Health
Incredible Health
Innovaccer
IntelyCare
Interwell Health
Komodo Health
LeanTaaS
LetsGetChecked
Lyra Health
Maven Clinic
Medable
Modern Health
Modernizing Medicine
Neko Health
NexHealth
Nomi Health
Noom
Nourish
Omada Health
OpenEvidence
Oura
Owkin
Papa
Prenuvo
Reify Health
Ro
ShiftKey
Sidecar Health
Somatus
SonderMind
Spring Health
Sword Health
Thirty Madison
Thyme Care
Transcarent
Truveta
Unite Us
Virta Health
Viz.ai
Wellhub
Wheel Health
Whoop
Zelis
Zocdoc
Want an updated list with even more data points? Download the List of Digital Health Companies spreadsheet. This includes a list of private digital health companies valued at $1 billion+, the year they became a unicorn, plus details on publicly traded and acquired companies.
