SHM Converge Scientific Abstract ePoster Gallery-Impact of Covid-19 on Digital Health Venture Capital Funding

Pdf Summary

This study examined whether venture capital–backed healthcare companies founded before vs. after the start of COVID-19 differed in their characteristics. Using Crunchbase data, the authors compared companies founded from March 14, 2019 to March 14, 2020 (pre-pandemic) with those founded from March 15, 2020 to March 14, 2022 (post-pandemic).<br /><br />They found that the overall distribution of healthcare subcategories was similar across the two periods, with wellness, software, and biotech/biopharma representing the largest shares. Geographic distribution across U.S. regions also did not change significantly. Median last funding round amounts were comparable, and the median number of funding rounds and founders were also not meaningfully different.<br /><br />However, some differences emerged in company funding status: early-stage companies were more common pre-pandemic, while late-stage and merger/acquisition outcomes were less common post-pandemic. Despite these differences, proportions of IPO, seed, and private equity funding statuses were not significantly different overall.<br /><br />The main conclusion is that the characteristics of venture-backed healthcare companies were largely similar before and after COVID-19. The authors suggest that better reporting standards and a centralized venture capital data repository would improve understanding of capital flow in digital health.

Asset Subtitle

Smitha Ganeshan

Meta Tag

Author List Joshua Goldstein, Lisa Rotenstein, Russell Phillips, Smitha Ganeshan

Category Research

Concept Venture Capital Funding

Concept Healthcare Companies

Concept Digital Health Technology

Concept Healthcare Company Subcategory

Concept Funding Stage

Distinguished Non-Finalist

Presenter Organization Ucsf

Presenting Author Smitha Ganeshan

Track Technology in Hospital Medicine

Keywords

venture capital

healthcare companies

COVID-19

pre-pandemic

post-pandemic

Crunchbase

funding rounds

digital health

biotech

company characteristics

Venture Capital Funding

Healthcare Companies

Digital Health Technology

Healthcare Company Subcategory

Funding Stage