Every year, billions of venture dollars are poured into U.S. digital health startups with the hopes of rich returns. These companies promise to “disrupt”, “redefine”, and “transform” healthcare as we know it. Some go on to do just that, while others have failed to live up to their hype.

I wanted to take a look at the companies that have raised the most funding (thanks Rock Health team for pulling this data!) and see where they are today. This post will look at the top ten highest-funded digital health startups: Tempus, Ro, Peloton Interactive, Jawbone, Lyra Health, Olive AI, Amwell, Hinge Health, 23andMe, and Oscar Health. Let’s go!

Tempus

Total funding: $1.3B
Latest valuation: $7.73B (March 2025)
Year founded: 2015
Current status: Public
Number of employees: 2,600
Location: Chicago, IL
About: Tempus is a technology company that is making precision medicine a reality by gathering and analyzing clinical and molecular data at scale. Through its machine learning and AI platform, Tempus provides physicians with actionable insights to help them make more personalized treatment decisions for their patients. They went public in 2024.

Ro (previously Roman)

Total funding: $1.0B
Latest valuation: $7B (2023)
Year founded: 2017
Current status: Private
Number of employees: 850
Location: New York, NY
About: Initially known for its men's health platform, Ro has expanded into a telehealth powerhouse, providing personalized, on-demand health services. With a vertically integrated model, Ro provides a digital healthcare clinic for patients, a telemedicine platform for physicians, and a pharmacy for medication delivery. The company has served over 1.5 million patients in the past five years.

Peloton Interactive

Total funding: $976M
Latest valuation: $2.3B (March 2025, a fraction of its peak market cap of $50B)
Year founded: 2012
Current status: Public
Number of employees: 2,900
Location: New York, NY
About: Peloton Interactive is a fitness-tech company merging high-design exercise equipment with live, interactive digital classes. The company's connected fitness products include its famous stationary bike and treadmill, which come with a subscription service to live and on-demand classes, creating a community-based workout experience. After a boom during the pandemic, 2022 was a difficult year for Peloton, which laid off 6,700 people and saw revenue fall by 22%.

Jawbone

Total funding: $946M
Latest valuation: $0
Year founded: 1999
Current status: Deadpool
Number of employees: 0
Location: San Francisco, CA
About: Jawbone started as an audio technology company but pivoted to health and wellness devices. While it was known for its wireless speakers and Bluetooth headsets, its UP fitness trackers gained much attention. Amidst fierce competition, manufacturing hurdles, and internal management issues, Jawbone struggled to sustain its market position. Despite substantial funding, the company was unable to achieve profitability and shut down in 2017. Read more Cautionary Tales.

Lyra Health

Total funding: $890M
Latest valuation: $5.58B (as of 2022)
Year founded: 2015
Current status: Private
Number of employees: 2,020
Location: Burlingame, CA
About: Lyra Health is a leading digital health platform providing comprehensive mental health benefits to employers. Using matching technology and a digital platform, Lyra connects employees to top-tier therapists, mental health coaches, and personalized medication prescribing, helping businesses address the rising need for accessible mental health services. Lyra seems to have avoided layoffs this last year, and maintains excellent employee reviews on Glassdoor.

Olive AI (previously CrossChx and just Olive)

Total funding: $855M
Latest valuation: $0
Year founded: 2012
Current status: Deadpool
Number of employees: 860
Location: Columbus, OH
About: Once valued at over $4 billion, Olive shut down in 2023.

American Well

Total funding: $843M
Latest valuation: $127M (March 2025)
Year founded: 2006
Current status: Public
Number of employees: 812
Location: Boston, MA
About: American Well (Amwell) is a telehealth platform that connects patients with doctors over secure video. The company offers a single, comprehensive platform to support all telehealth needs, including urgent care, acute care, and post-acute care. Amwell went public in 2020, and the stock spiked 42% in the first day of trading. In 2022, Amwell made $277 in revenue, a 9.5% YoY increase. Unfortunately, the company is hemorrhaging cash, and its revenue has decreased every year since, causing the stock price and valuation to crash.

Hinge Health

Total funding: $841M
Latest valuation: $6.2B (2021)
Year founded: 2015
Current status: Active
Number of employees: 1,461
Location: San Francisco, CA
About: Hinge Health is a digital clinic for joint and muscle pain, selling its care to insurers, self-insured employers, and health plans. Their digital care programs combine wearable sensor-guided exercise therapy with behavioral health support, education, and health coaching to reduce chronic pain and prevent the need for surgeries. Other than some board drama, Hinge seems to be smooth sailing. There have been no announced layoffs.

23andMe

Total funding: $805M
Latest valuation: $40M (March 2025)
Year founded: 2006
Current status: Public
Number of employees: ~250
Location: South San Francisco, CA
About: 23andMe is a consumer genetics and research company that offers a personal genomics service. Users receive a DNA testing kit, and the company provides a breakdown of the individual's ancestry and genetic health risks. 23andMe's contributions have revolutionized personal health by giving individuals access to their genetic data. 23andMe went public in June 2021 via Special Purpose Acquisition Company (SPAC). Unfortunately, the company hit major turbulence which culminated in the entire board quitting. Despite this, 23andMe CEO Anne Wojcicki remains committed to keeping the company and taking it private.

What do these companies have in common?

30% are active, privately-held companies, 50% are now publicly traded companies, and two (20%) have shut down. Notice that none have been acquired — when you raise that much money, there are fewer potential acquirers
Average time in business is 12 years, median is 10 years
90% are run by male CEOs, only 23andMe has a woman at the helm
Geographically, four of these companies are in Silicon Valley, three in New York, one in Boston/Cambridge, one in Columbus, OH, and one in Chicago, IL
Their business models are varied, from D2C (Ro, 23andMe, Peloton, Jawbone) to B2B2C (Lyra Health, Hinge Health, Amwell) to B2B (Tempus)

The 10 Most Funded Digital Health Companies, Ever