CB Insights today named Tendo Systems to its third annual Digital Health 150, which showcases the 150 most promising private digital health companies in the world. This year’s Digital Health 150 was unveiled live during CB Insights’ annual Future of Health event.
The 2021 Digital Health 150 cohort has raised roughly $14.9B in aggregate funding across 522 deals since 2016, and includes startups at various investment stages of development, from early-stage to well-funded unicorns. Companies this year include startups working on data integration & analytics, hybrid virtual / in-person care, digital therapeutics, clinical intelligence, and more.
“This year’s Digital Health 150 is one of our most expansive yet, spotlighting 16 categories including virtual care, clinical trials tech, and workflow automation, as well as adding new categories such as home health tech and computer-aided imaging,” said Brian Lee, SVP of CB Insights’ Intelligence Unit. “Last year’s class has seen more than 20 exits, raised an additional $18.6B in aggregate funding, and announced over 250 partnerships since being recognized, and we’re excited to see the future success of this year’s winners.”
“It’s an honor to have earned a place alongside other top innovators,” said Dan Goldsmith, chief executive officer at Tendo. “We aim to continue living up to this achievement by working to bring the consumer experience – connected, coordinated, easy – to patients, clinicians, and caregivers for a seamless end-to-end care journey.”
Through an evidence-based approach, the CB Insights research team selected the Digital Health 150 from a pool of over 11,000 companies, including applicants and nominees. They were chosen based on several factors, including data submitted by the companies, company business models and momentum in the market, and Mosaic scores, CB Insights’ proprietary algorithm that measures the overall health and growth potential of private companies.
Tendo seeks to transform the healthcare experience using its cloud-based digital engagement platform and suite of configurable applications to help patients seek, schedule, navigate, and manage care across their health journey. The company has raised $69 million in funding less than a year since its founding, and is working closely with select health systems, including Jefferson Health (Philadelphia, PA) – its first foundational customer – and Health First (Brevard County, Fl). Tendo was started by siblings Dan and Jen Goldsmith, who helped build Veeva Systems into a multi-billion-dollar cloud software company for the life sciences industry—and then helped grow Instructure into a leading software provider for education.
2021 Digital Health 150 Investment Highlights:
- Unicorns: 17 of the 150 companies (11%) are valued at or above $1B as of their latest funding rounds.
- Funding trends: In 2021 year-to-date (YTD), these 150 private companies have raised $9.2B in equity funding across 153 deals (as of 11/19/21).
- Mega-rounds: Since 2020, there have been 39 mega-round ($100M+) equity investments to this year’s Digital Health 150, with 31 (79%) of them taking place in 2021 YTD.
- Global representation: 23% of the 2021 Digital Health 150 are based outside the US. After the US, the UK is home to the most Digital Health 150 companies (9), followed by India (4). This year’s winners are based in 18 countries, including China, Israel, Nigeria, Germany, Argentina, and New Zealand.
- Top VC investor: General Catalyst is the most active investor in this year’s Digital Health 150 companies, having invested in 39 deals since 2016.
About CB Insights
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About Tendo
Tendo’s vision is to become the trusted connection between patients, clinicians, and caregivers by creating software that provides seamless, consumer-driven experiences throughout the care journey. We envision a healthier, more connected world where seeking, delivering, and managing care is frictionless. Our proven leadership, diverse team, and collaboration with forward-thinking healthcare organizations uniquely position us to drive digital transformation in healthcare. For more information on our job openings for product managers, engineers, and architects, please visit tendosystems.com and follow us on LinkedIn, Twitter, Facebook, and Medium.
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