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The digital health landscape has taken a dramatic roller coaster ride over the past three years.
In 2021, funding broke records amid $30 billion in deals. Digital health companies were enjoying $100 million-plus funding rounds and getting “unicorn” ($1 billion-plus) valuations almost every week. Last year began nearly as hot but sputtered out: In the fourth quarter, only $2.5 billion in deals took place.
As the digital health funding market has shifted downwards, companies that were once deemed unicorns have had to lay off employees, sell lagging businesses and even file for bankruptcy. Some are pivoting to new product lines while others forge ahead.
Here are seven digital health that have struggled since earning their horns:
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