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1. Telemedicine Report, August 2016 Tracxn World’s Largest Startup Research Platform 2 2. Telemedicine Report, August 20163 Contents 3 Topic Page No. Scope of Report 05 Entrepreneur Activity 07 Investment Trend 10 Who is Investing 18 Exit Outlook - IPO, Acquisitions 22 Sub Sector Analysis 25 Interesting Companies 34 Useful Links 40 Company List 43 Team & About Tracxn 220 3. Telemedicine Report, August 20164 Illustrative Sectors We Track ENTERPRISE INFRASTRUCTURE ENTERPRISE APPLICATIONS TECH FINTECH EDUCATION MOBILE SECURITY STORAGE NETWORKING MOBILITY IT OPS CLOUD INFRASTRUCTURE API MANAGEMENT BIGDATA INFRASTRUCTURE SAAS MOBILE-FIRST ENT. APPS INTELLIGENT ENT. APPS OPEN SOURCE RETAIL TECH MARKETING TECH STEALTH MODE VERTICAL SAAS HEALTH BIOPHARMA DIAGNOSTICS MEDICAL DEVICES CONSUMER HEALTHTECH FITNESS AND WELLNESS HEALTH IT TELEMEDICINE MOBILE HEALTH CONSUMER MARKETPLACES SUBSCRIPTION COMM. UBER FOR X INTERNET FIRST BRANDS FOOD TECH GROCERY TECH TRAVEL GAMING INTERNET OF THINGS 3D PRINTING BITCOIN PAYMENTS EDUCATION IT SELF LEARNING MOBILE COMMERCE MOBILE PAYMENTS 4. Telemedicine Report, August 20165 Sector overview Scope of report The report contain companies which enable consultation with physicians, doctors and specialists over telecommunication platforms. The mode of consultation includes two-way video, email, mobile devices, and other forms of telecommunications technology. Such solutions usually feature a two-way communication, with a provider at one end and a patient at the other. This report also covers companies offering services to the healthcare providers which helps them in taking advice from other providers through telemedicine. The report also includes companies which provides tele-monitoring devices and software for remotely monitoring patients, for example, elderly people, and give them feedback from providers and caregivers in real-time. It also includes enablers, technology-based solutions, which helps in implementation of telemedicine in the healthcare industry. These solutions can be a software platform, infrastructure solution or device to aid telemedicine. The report excludes distributors and suppliers of telemedicine equipment and also excludes platform to book doctor services for in-clinic visits/home visits. For funding, this report only includes venture capital/private equity funding rounds and excludes debt financing and grants/prize money unless it’s mentioned. 5. Telemedicine Report, August 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team & About Tracxn 66 6. Telemedicine Report, August 2016 55 68 84 118 149 132 17 0 32 64 96 128 160 2010 2011 2012 2013 2014 2015 2016 NumberofCompanies 7 YoY – Number of companies founded HealthTap Chunyu Yisheng Doctor On Demand Babylon health Ping An Good Doctor Call9 39Hospital HealthiestYou MD Revolution Go Lantern Avizia Easyhin Maidou Suifang ConnectHealth 7. Telemedicine Report, August 20168 Large Upcoming Sectors No. of Companies Founded Average Age No. of Companies Funded Business Model Total Funding Example 528 2012.3 180 Tele-Consultation - Patient Solutions $2.1B AmericanWell 2006, Boston 90 2008.9 42 Tele-Monitoring $442M Glooko 2010, Palo Alto 72 2009.0 31 Tech Enablers $175M SnapMD 2013, Glendale 70 2009.3 21 Tele-Consultation - Provider Solutions $34M MDAgree 2014, Annapolis 8. Telemedicine Report, August 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team & About Tracxn 99 9. Telemedicine Report, August 201610 YoY – Number of Rounds and Total Funding Note: The funding includes debt rounds also. $17M $44M $70M $109M $193M $240M $542M $503M $1.0B 5 13 29 40 55 70 113 128 70 0 28 56 84 112 140 0 240 480 720 960 1200 2008 2009 2010 2011 2012 2013 2014 2015 2016 NumberofRounds FundingAmount(inMillions) Funding Amount Number of Rounds • The funding peaked up in 2016, due to 2 funding rounds: 1) $500M funding to Ping An Good Doctor, part of China based insurance company, Ping An. 2) $183M funding to Chunyu Yisheng, a China based doctor consultation app. 10. Telemedicine Report, August 201611 YoY – Number of Rounds by Stage 25 30 35 62 63 25 10 14 22 32 46 35 2 6 7 9 7 5 0 28 56 84 112 140 2011 2012 2013 2014 2015 2016 NumberofRounds Seed Early Late 11. Telemedicine Report, August 201612 YoY – Funding by Stage $17M $11M $16M $61M $42M $23M $76M $86M $153M $183M $289M $760M $11M $88M $58M $284M $138M $220M 0 240 480 720 960 1200 2011 2012 2013 2014 2015 2016 TotalFundingAmount(inMillions) Seed Early Late 12. Telemedicine Report, August 201613 Average Ticket Size – Early Stage $0.8M $0.3M $0.6M $1.1M $0.9M $1.4M $6.6M $3.1M $4.6M $5.9M $5.1M $26.8M $11.3M $13.9M $17.3M $11.0M $14.1M $14.4M 0.0 6.0 12.0 18.0 24.0 30.0 2011 2012 2013 2014 2015 2016 FundingAmount(inMillions) Seed Series A Series B 13. Telemedicine Report, August 201614 Top investments in last one year Company Funding Amount Round Name Date Investors jk.cn Ping An Good Doctor (Shenzhen, 2014) $500M Series A May-2016 chunyuyisheng.com Chunyu Yisheng (Beijing, 2011) $183M PE Jun-2016 wlycloud.com Wly Cloud (Beijing, 2009) $35M Series A Mar-2016 Alibaba healthiestyou.com HealthiestYou (Scottsdale, 2010) $30M Series B Nov-2015 Frontier Capital babylonhealth.com Babylon health (London, 2013) $25M Series A Jan-2016 Kinnevik AB, Hoxton Ventures mdrevolution.com MD Revolution (San Diego, 2011) $23M Series C Dec-2015 Jump Capital, LLC specialistsoncall.com Specialists on Call (Reston, 2004) $20M PE Feb-2016 golantern.com Go Lantern (San Francisco, 2012) $17M Series A Feb-2016 UPMC, Mayfield, SoftTech VC, Stanford University 14. Telemedicine Report, August 201615 Top investments in last one year Company Funding Amount Round Name Date Investors vivifyhealth.com Vivify Health (Plano, 2009) $17M Series B Feb-2016 Laboratory Corporation of America, Envision Healthcare Holdings, UPMC zipnosis.com Zipnosis (Minneapolis, 2008) $17M Series A Jan-2016 Safeguard Scientifics, Ascension Ventures, HPVP, Arthur Ventures, Waterline Ventures, Omphalos Venture Partners, Fairview Health Services, Inc. easyhin.com Easyhin (Shenzhen, 2014) $15M Series B Mar-2016 Morningside Ventures, SBCVC, Hawthorn Investment, Fosun Kinzon Capital talkspace.com Talkspace (New York City, 2011) $15M Series B Jun-2016 Norwest Venture Partners, Spark Capital, Metamorphic Ventures, The time, SoftBank intouchhealth.com InTouch Technologies (Santa Barbara, 2002) $15M Series C Jun-2016 specialistsoncall.com Specialists on Call (Reston, 2004) $15M Series F Aug-2015 mindcaresolutions.com MindCare Solutions (Franklin, 2013) $13M Series A Nov-2015 avizia.com Avizia (Reston, 2013) $11M Series A Jul-2016 Blue Heron Capital, Lavrock Ventures, Middleland Capital, NextGen Angels, Waterline Ventures, Blu Venture Investors 15. Telemedicine Report, August 201616 Funnel view of Sector 21 15 31 126 268 778 0 180 360 540 720 900 M&A & IPO Late Series B Series A Funded Founded Number of Companies 16. Telemedicine Report, August 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team & About Tracxn 1717 17. Telemedicine Report, August 201618 Most Active Investors in Sector 8 6 5 5 5 4 4 4 4 4 0 2 4 5 7 9 Mohr Davidow Ventures Khosla Ventures SoftBank Synergy Life Science Partner True Ventures 406 Ventures Greylock Partners KPCB Mayfield Merck TotalNumberofCompanies iRhythm Tech Ginger.io Talkspace iRhythm Tech First Opinion Healthsense First Opinion Teladoc HealthTap Healthsense HealthTap Vida Health Sherpaa Health Ginger.io AbilTo CrowdMed Spruce Go Lantern 18. Telemedicine Report, August 201619 Where are Top Investors investing Mohr Davidow Ventures Khosla Ventures SoftBank Synergy Life Science Partner True Ventures 406 Ventures Greylock Partners KPCB Mayfield Merck Tele- Consultation HealthTap Ginger.io, Vida Health, CrowdMed Talkspace AbilTo First Opinion Teladoc Spruce HealthTap Go Lantern Tele- Monitoring iRhythm Tech iRhythm Tech Healthsense Healthsense Tech Enablers Tele- Rehabilitation Suite Solutions 19. Telemedicine Report, August 201620 Top Investor by Stage of Entry Village Capital 4 Healthbox 3 Rock Health 3 Y Combinator 3 500 Startups 2 Andreessen Horowitz 2 Brand Capital 2 Dreamit Ventures 2 Floodgate 2 Great Oaks Venture Capital 2 Khosla Ventures 2 Mohr Davidow Ventures 2 Safeguard Scientifics 2 406 Ventures 1 Acacia Venture Partners 1 Anthem 1 Asset Management Ventures 1 BCBSVP 1 BIP Opportunities Fund 1 Beringea 1 Seed Series A Series B Later Stage Ascension Ventures 2 Elron 2 First Round Capital 2 Khosla Ventures 2 Legend Capital 2 Mayfield 2 Mohr Davidow Ventures 2 Omphalos Venture Partners 2 Partech Ventures 2 S23P 2 Cambia Health Solutions 2 Trident Capital 2 Arboretum Ventures 1 Bedford Funding 1 Beringea 1 BlueRun Ventures 1 Buckhead Investment Partners 1 California HealthCare Foundation 1 Cardinal Health 1 Cardinal Partners 1 20. Telemedicine Report, August 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team & About Tracxn 2121 21. Telemedicine Report, August 201622 Top IPOs in last three years IPO Date Company Overview Funding Amount Exch:Ticker Jul-2015 teladoc.com Teladoc (Dallas, 2002) Telemedicine provider offering web and mobile based video consultations The Bank of New York Mellon Corporation, KPCB, Trident Capital, Questmark Partners, Jafco Ventures, Greenspring Associates, Cardinal Partners, HLM Venture Partners, New Capital Partners, Flag Capital Management, Icon Ventures $96.9M NYSE: TDOC 22. Telemedicine Report, August 201623 Major Acquisitions in last one year Date Company Acquirer Deal Size Overview Total Funding Jun-2016 healthiestyou.com HealthiestYou (Scottsdale, 2010) Teladoc $125M Teleconsultation service provider Frontier Capital $30M Sep-2015 caretrx.com CareTRx (Cambridge, 2012) Teva Pharma Undisclosed Mobile app and sensor to manage asthma through gamification Blue Cross Blue Shield of Massachusetts $50K May-2015 myameridoc.com AmeriDoc (Dallas, 2008) Teladoc $17.2M Video, voice and mail based medical consultation with the physicians May-2015 vrad.com vRad (Eden Prairie, 2001) Mednax $500M Provides radiology informatics solutions and teleradiology services 23. Telemedicine Report, August 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team & About Tracxn 2424 24. Telemedicine Report, August 201625 TELE-MONITORING August 2016Tracxn BlueBox : Telemedicine Cumulative funding in the sector 750+ companies in the sector, 250+ funded in last 5 years, $1.5B invested in 2015/16 Most Active Investors: Rock Health, Healthbox, Warburg Pincus Practice Area: Health - Consumer | Analyst: Chaitanya Ostwal | Twitter: @chaitanya TELE-CONSULTATION Patient Solutions Provider Solutions Consultation Solutions Teladoc (2002, IPO) Tele-Pharmacy DrFox (2009) Service Providers Telemedicine Clinic (2002, $10M) TECH ENABLERS$424M$2B $166M Devices BL Healthcare (2001, $5M) Platform Technologies InTouch Technologies (2002, $64M) Suite GlobalMed (2002, $856K) SUITE SOLUTIONS $120K Elite Compound Rx (2014) Devices Elderly Care Healthsense (2001, $33M) Cardiovascular iRhythmTechnologies (2006, $95M) Multi-Speciality Sentrian (2012, $20M) Chronic Disease Management Glooko (2010, $28M) Software Solutions MD Revolution (2011, $34M) TELE-REHABILITATION Pursuant Health (2007, $29M) $30M 25. Telemedicine Report, August 201626 Top Business Models by Funding $2.1B $424M $169M $30M 0 500 1000 1500 2000 2500 Tele-Consultation Tele-Monitoring Tech Enablers Tele-Rehabilitation TotalFundingAmount(inMillions) # Cos. 602 90 72 11 Avg. Age 2011.95 2008.87 2008.96 2009.91 Ping An Good Doctor iRhythm Tech InTouch Technologies Pursuant Health Chunyu Yisheng Watermark Medical REACH Health Real Time Rehab 26. Telemedicine Report, August 201627 Tele-Consultation – Business Model Description Solutions that enable interaction of patients with healthcare providers over any electronic medium Patient Solutions Products & services targeted at patients and sold directly or through employer/payer Provider Solutions Products & services targeted at healthcare providers 27. Telemedicine Report, August 201628 Tele-Consultation – Entrepreneur Activity and Investment Trend $10M $31M $22M $73M $122M $121M $442M $357M 2 8 12 24 30 44 78 94 0 20 40 60 80 100 0 100 200 300 400 500 2008 2009 2010 2011 2012 2013 2014 2015 NumberofRounds FundingAmount(inMillions) YoY – Total Funding and No. of Rounds 15 16 39 56 66 91 124 121 0 28 56 84 112 140 2008 2009 2010 2011 2012 2013 2014 2015 NumberofCompaniesFounded YoY – No. of Companies Founded 288 141 35 35 8 7 6 6 0 70 140 210 280 350 United States India China United Kingdom Canada Indonesia Australia Brazil NumberofCompanies Distribution of Companies across Countries 28. Telemedicine Report, August 201629 Tele-Consultation – Most Funded Companies Company Overview Business Model Funding Amount jk.cn Ping An Good Doctor (2014, Shenzhen) Online platform to consult doctors remotely Tele-Consultation > Patient Solutions > Consultation Solutions > Multi-Speciality $500M chunyuyisheng.com Chunyu Yisheng (2011, Beijing) Doctor Consultation App BlueRun Ventures, CICC, ICH Group Tele-Consultation > Patient Solutions > Consultation Solutions > Multi-Speciality $244M specialistsoncall.com Specialists on Call (2004, Reston) Web based video consultation for TeleNeurology, TelePsychiatry and TeleIntensivist Warburg Pincus Tele-Consultation > Patient Solutions > Consultation Solutions > Multi-Speciality $132M americanwell.com American Well (2006, Boston) Telehealth platform that connects users with doctors over video feed Inventure Partners, Anthem, Jefferson Healthcare Tele-Consultation > Patient Solutions > Consultation Solutions > Multi-Speciality $123.15M teladoc.com Teladoc (2002, Dallas) Telemedicine provider offering web and mobile based video consultations The Bank Of New York Mellon Corporation, KPCB, Trident Capital, Questmark Partners, Jafco Ventures, Greenspring Associates, Cardinal Partners, HLM Venture Partners, New Capital Partners, Flag Capital Management, Icon Ventures Tele-Consultation > Patient Solutions > Consultation Solutions > Multi-Speciality $96.9M doctorondemand.com Doctor On Demand (2012, San Francisco) Remote video consultations with US-licensed physicians Andreessen Horowitz, Qualcomm, Lerer Hippeau Ventures, Qualcomm Ventures, Shasta Ventures, TomorrowVentures, Venrock, Google Ventures, Rock Health, Tenaya Capital, Jump Capital partners, Dignity Health, World Innovation Lab, Sherpa Capital, Lerer Hippeau Ventures, Rosemark, Jump Capital Tele-Consultation > Patient Solutions > Consultation Solutions > Multi-Speciality $86.7M 29. Telemedicine Report, August 201630 Tele-Monitoring - Business Model Description Solutions which enable healthcare providers to remotely monitor their patients using monitoring devices at home Devices Software Solutions Hardware Solutions which let healthcare providers monitor the patient's situation in real-time Hardware Solutions which let healthcare providers monitor the patient's situation in real-time 30. Telemedicine Report, August 201631 Tele-Monitoring – Entrepreneur Activity and Investment Trend $1M $10M $31M $16M $53M $99M $80M $105M 1 3 11 8 16 20 18 17 0 5 10 15 20 25 0 24 48 72 96 120 2008 2009 2010 2011 2012 2013 2014 2015 NumberofRounds FundingAmount(inMillions) YoY – Total Funding and No. of Rounds $346M $78M 0 80 160 240 320 400 Devices Software Solutions FundingAmount(inMillions) BM wise Investment 6 7 10 7 9 13 9 5 0 3 6 8 11 14 2008 2009 2010 2011 2012 2013 2014 2015 NumberofCompaniesFounded YoY – No. of Companies Founded 59 5 4 3 2 2 2 2 0 14 28 42 56 70 United States United Kingdom Netherlands Canada Denmark Israel Italy Singapore NumberofCompanies Distribution of Companies across Countries 31. Telemedicine Report, August 201632 Tele-Monitoring – Most Funded Companies Company Overview Business Model Funding Amount irhythmtech.com iRhythm Tech (2006, San Francisco) Cardiac rhythm monitoring devices Stanford University, Norwest Venture Partners, Mohr Davidow Ventures, California HealthCare Foundation, New Leaf Ventures, Kaiser Permanente Ventures, Novo A/S, Synergy Life Science Partner Tele-Monitoring > Devices > Cardiovascular $95.49M watermarkmedical.com Watermark Medical (2008, Boca Raton) Home sleep testing Yet2ventures, Ballast Point Ventures Tele-Monitoring > Devices $52.64M mdrevolution.com MD Revolution (2011, San Diego) SaaS based predicitive analytics platform for patient engagement and outcomes improvement Bootstrap Incubation, Jump Capital, LLC, Jump Capital Tele-Monitoring > Software Solutions $33.6M healthsense.com Healthsense (2001, Mendota) Remote monitoring, emergency call, and wellness management solutions 406 Ventures, Merck, Radius Ventures, Ziegler, Mansa Capital, fchp.org, West Health Tele-Monitoring > Devices > Elderly Care $32.75M glooko.com Glooko (2010, Palo Alto) Glucose meter and mobile app for diabetes management Canaan Partners, S23P, Medtronic, Samsung Venture Investment, Canaan, Social Capital Tele-Monitoring > Devices > Chronic Disease Management $28M infobionic.com InfoBionic (2011, Lowell) Wireless remote patient monitoring system for arrhythmia detection The Indus Entrepreneurs, Keiretsu Forum, Safeguard Scientifics, Launchpad Venture Group, HealthTech Capital, Excel Venture Management, Mass Medical Angels, Cherrystone Angel Group, Broadview Ventures, Boynton Angels, TCA Global Fund, Zaffre, betafund.wordpress.com Tele-Monitoring > Devices > Cardiovascular $25.97M 32. Telemedicine Report, August 2016 Scope of Report Entrepreneur Activity Investment Trend Who is Investing Exit Outlook - IPO, Acquisitions Sub Sector Analysis Interesting Companies Useful Links Company List Team & About Tracxn 3333 33. Telemedicine Report, August 201634 Interesting Series A Companies Company Overview Business Model Total Funding jk.cn Ping An Good Doctor (2014, Shenzhen) Online platform to consult doctors remotely Tele-Consultation > Patient Solutions > Consultation Solutions > Multi-Speciality $500M wlycloud.com Wly Cloud (2009, Beijing) Cloud-based medical imaging storage and tele-medicine service Alibaba Tele-Consultation > Patient Solutions > Consultation Solutions > Multi-Speciality $34.5M sentrian.com Sentrian (2012, Aliso Viejo) Remote patient intelligence company TELUS, Tech Coast Angels, Frost Data Capital, REV Tele-Monitoring > Devices > Multi-Speciality $12M lybrate.com Lybrate (2012, Delhi) Online multispecialty telemedicine platform Nexus Venture Partners, Tiger Global Management Tele-Consultation > Patient Solutions > Consultation Solutions > Multi-Speciality $11.43M firstopinionapp.com First Opinion (2013, San Francisco) Mobile application for pregnancy queries Greylock Partners, 500 Startups, Felicis Ventures, True Ventures, Polaris Partners, Promus Ventures, Scrum Ventures, Monashees+, Scrum Ventures Tele-Consultation > Patient Solutions > Consultation Solutions > Women's
