Digital health startups collected the lion’s share of VC money last year.
2020 wasn’t a great year for many companies, but it was a good time to be a medical startup.
On Tuesday, med-tech trade group Medical Alley Association reported that its startups raised a record $1.4 billion in venture capital last year. Minneapolis-based health insurance startup Bright Health landed the biggest raise in 2020, securing an eye-popping $500 million in September.
The second-largest raise last year went to Preventice Solutions, an Eagan-based medical device startup that raised $137 million in the third quarter. Digital health firm Bind Benefits was close behind with a $105 million raise in October.