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1StartUpHealthInsights1®2019Q1StartUpHealthInsightsAquarterlyreportonhealthinnovationandthehealthmoonshotstransformingtheworld.™ACCESSTOCARECOSTTOZEROCUREDISEASECANCERWOMEN’SHEALTHCHILDREN’SHEALTHNUTRITION&FITNESSBRAINHEALTHMENTALHEALTH&HAPPINESSADDICTIONLONGEVITY2StartUpHealthInsights3STARTUPHEALTHINSIGHTSOverviewHealthInnovationHighlightsABOUTSTARTUPHEALTHAtStartUpHealthwebelievethatwiththerightmindset,amoonshotvision,andthespiritofanentrepreneur,anythingispossible.Wealsoknowthatsomethingmagicalhappenswhenyoubringtogetherpeoplewhoarepassionateaboutimpact-ingpeople’slivesforthebetteraroundcommongoals.That’swhysince2011,we’vebeeninvest-inginaglobalarmyofHealthTransform-erstosolvetheworld’sbiggesthealthchallenges.ABOUTSTARTUPHEALTHINSIGHTS™StartUpHealthcollectsandsharesmarketinsightsbecausethesedatapointstellacriticalpartofthehealthinnovationstory.Morethansimplychroniclingtheflowofmoney,thisreportprovidesaglimpseintotheoverallhealthofourHealthMoonshots.Thestorybeneaththetop-linefiguresopensupnewchallengesaswellasop-portunities.HealthMoonshotsrequireradicalcollabo-ration,soweencourageyoutodigintothisreportandthenbringyourowninsightstothetableathq.startuphealth.com.ReportAuthorsLizTucciLoganPlasterPolinaHaninContributorsTaraSalamoneJenniferHankinNicoleKinsey---©2019StartUpHealthHoldings,Inc.StartUpHealthandHealthTransformerandassociatedlogosareregisteredtrade-marksofStartUpHealthLLC.Signuptoreceiveweeklyfundinginsightsatstartuphealth.com/insiderSource:StartUpHealthInsights|startuphealth.com/insights.Note:Reportbasedonpubliclyavailabledatathrough3/31/19onseed(incl.accelerator),venture,corporateventure,andprivateequityfundingonly.CompaniestrackedinStartUpHealthInsightsmayfallundermultipleMoonshotsandthereforewillberepresentedthroughoutthereport.Ifyou’vebeenreadingStartUpHealthInsightsforanylengthoftime(we’vebeentrackingdatasincein2010)you’llnoticethatthisreportisdifferent.We’restilltrackingallthesamefundingandinvestornumbers,butwe’renowhighlightinginsightsbykeyHealthMoonshots.We’redrillingdownontheprog-ressbeingmadeincriticalareasthathavethepotentialtoimpactbillionsofpeople’slivesglobally.Webelieve,aswe’vewrittenbefore,thatwhatwasoncedefinedas“digitalhealth”iscon-vergingacrossallhealthsectors–healthIT,biotech,med-tech,pharma,healthservices,consumerandsoon.Whatmattersmostinouropinionis“healthinnovation”–which,inadditiontodigitalsolutions,connectivityanddata,needstoincludenewbusinessmodels,designthinking,andotheressentialingredi-entshelpingtransformhealth.Withthatlenswecanfocusontheprogressbeingmadetowardsolvingtheworld’sbiggesthealthchallenges,likeeffectivelydeliveringqualitycaretobillionsofpeople,orendingcancerasweknowit,orradicallyreducingcost.Ironically,weseehealthinnovationmovingfasterthanwedreamedpossibleandslowerthanweneedatthesametime.It’snowonemassivedynamicglobalmarketandthetrueinnovationmaybeyettocome.Herearesomekeyinsightswe’vepulledfromthisquarter’sdata.DEALCOUNTDIPS,MARKETMATURESWithagrandtotalof$2.8billionininvest-ment,Q12019dippedintotalfundingbyonly3.7%,however,totalnumberofdealsdroppedby37%overthissametimelastyear.Thisdis-parityisinlargepartduetothemassive$500milliondealbyCloverHealth.While2019mayhavehadaslowerstartthanpreviousyears,therearesignsthatthemarketiscontinu-ingtomature,asmediandealsizeoverallclimbedto$9.2M,outpacingeveryotherquarterbeforeit.Infact,sixofthe11healthmoonshotswetracksawmorethan40%oftheirdealsreachabove$10million.NEWOPPORTUNITIESININSURETECHCloverHealth’smassiveraisefollowsquicklyafterDevotedHealth’s$300MraiseinQ42018,suggestingastronginterestinInsureTechstartupsenteringtheMedicareAdvantagespace.Theopportunityforanycompanyinhealthinnovationistofigureouthowtobestcollaboratewiththeseorganiza-tions.COST+ACCESSTOPTHELISTTheCosttoZeroandAccesstoCareMoon-shotswerethemostfundedimpactareasat$1.1billionand$983millionrespectively–theywerealsothehealthmoonshotsthatoverlapthemostintermsofcompanyfocus.WOMEN’SHEALTHSEESBUMPWe’repleasedtoreportthatWomen’sHealthMoonshotfundingisstartingoffstrongcom-paredtoQ12018,with$91.6millionraisedacross8deals,ascomparedtoamere$7.8millionthistimelastyear.With20dealsinallof2018,we’reoptimisticthetrendwillcontinue.NEWGLOBALHUBSEMERGENewglobalentrantslikeLausanne,Switzer-landandAthens,Greeceremindusofthero-bustnessoftheglobalhealthinnovationcom-munity.TheystillpaleincomparisontotheSanFranciscoBayArea,whichhadfiveofthe10topU.S.deals,andwhosefundingismorethantherestoftheU.S.dealscombined.Thereisstillalotmoreworktobedonearoundtheworld.Infact,theChildren’sHealthandBrainHealthMoonshots–amongothers–areextremelyunderfunded.Weencourageentrepreneurstodiscoverhowtheirtechnologiesmayapplytoareaswhereinnovationisstillneeded.Andwealsoen-courageinvestors(andwelcomenewones)tocontinuetofundcompaniesthataremakingalong-termimpact.2StartUpHealthInsights3INVESTMENTSPECTRUMEverycompanyintheStartUpHealthInsightsdatabaseissortedintooneof10functions–itsmainvaluedrivers.Thistoplinebreak-downoffersalookintothebreadthofinvestment,whichspeakstotheoverallhealthofthemarket(shownhere),a