Sputtered out: Digital health funding in 2022 by the numbers

Digital health venture capital in 2022 was the tale of two funding markets.

The first three months started out nearly as hot as 2021. From January to March, there was $6.8 billion invested into digital health companies, according to Digital Health Business & Technology’s funding and M&A database. There were 18 large funding deals valued at more than $100 million. On a near-weekly basis, companies were announcing they had achieved ‘unicorn status,’ achieving valuations estimated at more than $1 billion.

But starting in the second quarter, the market gradually fell off a cliff.

There was $4 billion invested in the second quarter and $2.9 billion in the third. The last three months of...