Synaptic’s Post

The digital health sector continues to thrive, with a remarkable $2.7 billion invested across 133 deals in Q1 2024. While median funding in later stages has decreased from its peak in 2021, median early-stage funding has increased by an impressive 19%! Now is the time to seize the opportunities in this booming industry. Synaptic is thrilled to unveil our exclusive research: Digital Health 30 – a report spotlighting 30 high-growth startups meticulously curated from a list of over 9,000 companies using 100+ growth metrics. Here's a sneak peek at some of the featured companies: 🏆 Top Bootstrapped Companies: Klarity, Imagine Pediatrics, Drop Bio Health, Allminds, MediOrbis 🏆 Top Seed Stage Companies: Nourish, Henry Meds, Terappin, Fitelo, HeHealth 🏆 Top Early Stage Companies: Unobravo (Online Psychology Service), Fabric, Midi Health, Inbound Health, Pomelo Care

I learned so much at this week's Femtech Innovations in Hormone Health event in San Francisco! The event brought together founders, investors and enthusiasts to discuss emerging trends in hormone health and Femtech as a whole. Main Takeaways: ⚡Lack of Attention - Hormone health receives limited attention in most medical school curriculums, which results in a lot of unknowns surrounding the impacts of hormones on women’s health. One of the best ways for patients to advocate for themselves is to ask questions. Next time you're at the doctor, ask them your hormone-related questions, and highlight your personal experience. Even if they can't answer today, patient self-advocacy is vital for driving further education to this area. 💡Solutioning - A large area of focus in the Femtech space is on using diagnostic tools and the data they produce to inform lifestyle changes and treatments. While consumers are eager to track more of their personal data than ever before, data abundance can present challenges in translating findings into practical applications. It is important to be clear on whose lives will be made easier by this data (doctor, patient, etc.), and find clear ways to communicate trends to stakeholders so they can leverage them to take action. 💰Investment - Femtech companies currently receive only 3% of all digital health investment, despite Femtech problems impacting about half of the population. Trends also indicate that Femtech startups receive greater traction with investors at the early stages, but face challenges raising later rounds. Founders can combat this by positioning their companies as broader "healthcare companies" at later stages of raising capital where they tend to garner less attention. Thank you to panelists Sylvia Kang, Jessica Karr, Kendell Cannon, MD, and Julia Layton, and moderator Rachel Lehmann Haupt for your time and insights! #femtech #healthtechinnovation #womenshealth

🔵 𝐒𝐜𝐚𝐥𝐢𝐧𝐠 𝐢𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐯𝐞 𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬 𝐢𝐧 𝐰𝐨𝐦𝐞𝐧’𝐬 𝐡𝐞𝐚𝐥𝐭𝐡 𝐰𝐢𝐭𝐡 𝐬𝐨𝐟𝐭𝐰𝐚𝐫𝐞 🔎 Despite making up half of the global population, women and their health needs are underinvested in, underserved, and under-researched. It takes women four years longer than men to get diagnosed with 700 different diseases and conditions. This not only creates poor health outcomes for women but also considerable costs to our healthcare system. Insight Partners curated an interesting overview on #womenhealth 💰 𝐓𝐡𝐞 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐥𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞 As conversations around women’s health increase, so too does the industry’s valuation. According to Fortune Business Insights, the global #femtech market will reach over $20B by 2030 – up from an estimated $6.69B in 2023. 💵 According to McKinsey & Company, 𝐰𝐨𝐦𝐞𝐧 𝐚𝐜𝐜𝐨𝐮𝐧𝐭 𝐟𝐨𝐫 𝟖𝟎% 𝐨𝐟 𝐜𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐩𝐮𝐫𝐜𝐡𝐚𝐬𝐢𝐧𝐠 𝐝𝐞𝐜𝐢𝐬𝐢𝐨𝐧𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐡𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲. 💸 This has led to the formation of 𝐬𝐞𝐯𝐞𝐫𝐚𝐥 𝐟𝐞𝐦𝐭𝐞𝐜𝐡-𝐟𝐨𝐜𝐮𝐬𝐞𝐝 𝐯𝐞𝐧𝐭𝐮𝐫𝐞 𝐜𝐚𝐩𝐢𝐭𝐚𝐥 𝐟𝐮𝐧𝐝𝐬. SteelSky Ventures, Rhia Ventures, Amboy Street Ventures, and Avestria Ventures focus exclusively on finding and supporting the next generation of innovators in this sector. It’s an area with huge investment potential. ⚠ And yet, despite the increased attention, 𝐭𝐡𝐞 𝐨𝐯𝐞𝐫𝐚𝐥𝐥 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐢𝐧 𝐰𝐨𝐦𝐞𝐧’𝐬 𝐡𝐞𝐚𝐥𝐭𝐡 𝐫𝐞𝐦𝐚𝐢𝐧𝐬 𝐥𝐨𝐰. According to Rock Health, only 3% of the 2,728 #digitalhealth deals in the U.S. between 2011 and 2020 focused on women’s health. 🥇 Of course, there have been some notable success stories. Maven Clinic became the category’s first unicorn in 2021, and fellow fertility-focused startups Progyny, Inc. and Kindbody have also exceeded $1B valuations. In 2023, femtech companies were worth a collective $28B. Global VC investment into femtech companies also reached an all-time high of $2B in 2021 seeing a steady rise since 2013. 🔎 Two trending areas are garnering attention from founders and investors alike: 𝐟𝐞𝐫𝐭𝐢𝐥𝐢𝐭𝐲 𝐚𝐧𝐝 𝐦𝐞𝐧𝐨𝐩𝐚𝐮𝐬𝐞. The article mentions some innovators in the femtech space: Clue Flo Health Inc. Hinge Health ScreenPoint Medical Leal Health Evvy Read more 👉 https://lnkd.in/eRi-3cDb

Being a healthtech enthusiast, it's exciting to see how rapidly this industry is evolving. But, this comes with a challenge i.e, it's crucial to keep oneself updated about the upcoming trends. It's even more important for healthtech startups if they want to stay in the game for long run. These TED Talks are a goldmine of insights into the digital health space. ↳ Personally, Joshua Smith's talk on new Nanotech for early cancer detection left me in awe. Do check these out and let me know which one is your favorite! 😅 #HealthtechJourney #DigitalHealth #TEDTalks #Innovation

Despite the fact endometriosis impacts about 10% of women worldwide, it takes an average of 10 years to get diagnosed for most women. Often mistaken for menstrual pain, many women endure years of life-altering pain and suffering before receiving a proper diagnosis. Cenfluence Cluster Member FlowIntell is using the regional innovation ecosystem to develop a non-invasive at-home test and a telehealth app that will quickly and cost-effectively determine whether the user has endometriosis. In fact, Flowintell aims to make its first 60 tests available to customers by 2026. Named a 2024 startup to watch by regional partners Orlando Tech Community  and Orlando Inno, Flowintell has also worked with StarterStudio  and joined the Rally as they try to create lasting, positive social change by educating women and healthcare professionals on endometriosis. Read more: https://lnkd.in/ehfHWJZM Wish to know more about funding opportunities or other services to help your business grow? Connect with us: https://lnkd.in/eJCkz6SD.

🌟 Exciting news from the world of #WomenInTech and #DigitalHealth! 🌟 MIDI, a groundbreaking menstrual cycle management startup, is set to revolutionize a crucial yet often overlooked area of women's health. Founded by dynamic duo Aisha Abdullah and Nia Holland, MIDI promises to deliver a comprehensive digital platform tailored for menstruators, bridging a significant gap in the market. 🚀 Since its inception in 2022, MIDI has secured a hefty $2.5 million from forward-thinking investors like Precursor Ventures and Seedcamp. This funding fuels the development of a platform equipped to provide personalized cycle tracking, educational resources, and peer support, all informed by cutting-edge Machine Learning algorithms. 👩💻 As a woman in tech myself, I remember the early days of my career struggling to find suitable resources for managing menstrual health discreetly and efficiently. MIDI's vision of creating a digital haven for menstruators not only resonates with me but also highlights an essential shift towards inclusivity and empowerment in technology. 💡 What's more? MIDI's comprehensive approach promises to demystify menstrual health through educational content covering menstrual hygiene to sexual health. Plus, their community feature fosters a safe space for users to connect, share, and grow—something I wish had been available during my own journey. As MIDI gears up for their full launch in late 2024, I'm particularly excited about the potential ripple effects of merging technology with empathetic healthcare. 🙋♀️ Let's talk - what technological advancements in health have impressed you the most lately? Do you see a rising trend in personalized health management apps? 📢 Share your views and experiences! Let’s champion innovations that empower and uplift, like MIDI! #HealthTech #StartUp #InnovationInHealth #WomenHealth #PersonalizedHealthcare

The growing momentum of longevity medicine – healthcare that focuses on preventive care, delay of aging, and longevity science – will propel this category into the mainstream this year according to Bessemer’s 2024 Healthcare Predictions. We’ve known all along the importance of comprehensive, whole-person care and the power of personalized recommendations that address all elements of an individual’s health. With research growing by leaps and bounds and widespread adoption of data-driven, tailored healthcare, consumers have never been more empowered to take charge of their own health.   At Biote our vast network of providers has been relentlessly adding to the clinical body of research and scientific knowledge that continues to drive our understanding of longevity medicine. Patient testimonials have highlighted the remarkable impact that successful therapy can have on a person’s overall well-being and quality of life, and we are inspired by real life successes that drive our commitment.   Read more about Bessemer’s vision of longevity health in 2024 and other predictions here: #health #healthcare #future #innovation  

In 2023, #digitalhealth funding hit its lowest point since 2019 at $10.7B, reflecting broader market challenges. Despite this, startups creatively stretched lifelines (although a few going into bankruptcy), hinting at resilience amidst adversity. As we pivot to 2024, the sector eyes a transformative recalibration. We're seeing a necessary shift towards labeled fundraising and strategic M&A, underpinned by a focus on areas ripe for innovation like obesity care and generative AI. Yet, a critical hurdle remains: Payer Coverage. The growth and adoption of digital therapeutics, crucial for tackling chronic conditions and improving healthcare accessibility, are stifled by the lack of comprehensive payer coverage. This bottleneck is poised to shape the future trajectory of digital health, urging a collective push for integration and acceptance in mainstream healthcare models. Few Reads - Pear Therapeutics’s bankruptcy - https://lnkd.in/dKreEG9Y 2023 Digital Tech Startups Funding - https://lnkd.in/dfb3zbhQ Rochhealth Insights on Digital Health Funding - https://lnkd.in/dQdkg-xT #digitalhealthcare #digitaltherapeutics #futureofhealthcare

😓 In the startup world, the pressure never stops ⇥ ...to innovate, to raise, to grow, to scale… 🫸 ...to generate revenue, to hire, to fire. Pigeon’s never really been one to feel the pressure*, but we’re here for you if you have – giving you a moment each week to pause, have a break and enjoy the best healthtech stories of the week, including 👇 4️⃣ Heartbeat Health’s Jeffrey Wessler gives struggling founders tips on how to survive the digital health shake out. 💰 Jack O’Brien reports as Liver enthusiasts Boehringer Ingelheim and Ochre Bio form a partnership for the ages 🚹 Nathan Eddy examines Maven Clinic’s new male fertility support offering 🗣️ Conor Hale shares the news that GE Healthcare is launching the ultrasound machine of the future ❓Pastest find a lack of confidence in dermatology, as just 5% feel comfortable diagnosing conditions across a range of skin tones 🤖 Would you feel more comfortable being shouted at by an AI? Stewart Rogers examines the AI wellness avatars. 🇫🇷 If you’re feeling under pressure to innovate? Try being Doctolib, France’s Healthcare Unicorn. Daphné Leprince-Ringuet explains… 💰 Kai Nicol-Schwarz shares Elvie’s £9.6m raise and asks what they plan to do with the money Pods from: 🔊The Healthtech Pigeon Podcast with Jessica Somauroo, Dr. James Somauroo and BoobyBiome’s Dr. Sioned Fôn Jones 🔊The Healthtech Podcast with Fit Minded Inc’s Jennifer Huberty, PhD 📎 ZINC Venture Builder, June 2024 📎 Women’s health Community Fund, Wellbeing of Women 📎 Customer Success Lead, Perci Health 📎 Engineering Manager, Doccla Read the full stories at healthtech pigeon dot com – full link in the comments below #digitalhealth #healthtech #healthtechpigeon  *although the stress of generating weekly sass can occasionally be overwhelmiing and we need a lie down.

Thank you to Boulder Startup Week for the opportunity to gather this amazing group of health care leaders, entrepreneurs, and investors! Sally Hatcher, Margaret Melville, Judith Nowlin, Margo Harrison MD MPH thank you so much for agreeing to stand up in front of a room of strangers and talk about your companies, challenges, and successes! In addition to Margaret's recap below, we talked about: - The power of relationships when asking for advice or investments (hint: say yes to intros!) - How to approach a friends and family round (hint: ensure both parties treat it like a gift to make things easier around the dinner table!) - Failure leads to learnings, relationships, connections, and success - Ask questions to understand the market need and customer feedback (and, importantly - do your clients like the product enough to buy it?!) - Investors look for traction, team, and fit! Local Resources: - BoulderHealthTech.com to signup for Boulder's local networking group - Denver Digital Health networking group (message me if you'd like to join) - Prime Health Challenge (open until May 30th!) - I-CORPS workshops (CU offers these for free - https://lnkd.in/gAKGRnBq )