VC fundraising for health data & analytics companies
Health data has held up better than most digital health categories through the recent correction. Multi-year contracts with pharma and payers, software-grade gross margins and the strategic relevance of RWE to drug development have kept growth capital flowing into RWE platforms, claims and EHR networks and life-sciences commercial analytics. Valuations price on net revenue retention, data network defensibility and the durability of the provider and payer partnerships that supply the data.
The relevant investor mix runs across life-sciences specialists like OrbiMed and ARCH that hold data alongside therapeutics, the crossover funds - Casdin, RTW - that bridge to the public comps in IQVIA and Veeva, healthcare-focused growth funds such as General Catalyst Health, F-Prime and GV, and the pharma and payer CVCs that engage where the network is strategically relevant: Eli Lilly Ventures, Novartis Venture Fund, J&J Innovation and Optum Ventures. Flow has direct relationships across this set and targets funds with a recent lead in comparable data network operators.
Flow has experience running VC fundraising processes for health data and analytics companies across real-world evidence platforms, claims and EHR data networks, life-sciences commercial analytics, clinical trial and patient registry businesses and specialty data providers. Our extensive investor network spans early-stage seed funds, growth-stage investors, and strategic and corporate VC arms.
"Health data & analytics" KPIs VC investors look at
The metrics venture investors benchmark before pricing a round - in diligence, at the IC table, on the term sheet.
ARR
Net revenue retention
Gross retention
Enterprise customers
Data partners under contract
Therapeutic areas covered
Average contract value
Gross margin
Sales cycle days
Magic number
Health data & analytics valuations in May 2026
Public health data & analytics comps trade at 2.6x EV/Revenue. Median revenue multiple across health data & analytics VC rounds was 29x in the last 12 months.
2.6x
Median EV/Revenue as of May 2026 for public health data & analytics companies
2.6x
IQVIA is the highest valued public health data & analytics company based on EV/Revenue (excluding outliers)
5.4x
Median EV/Revenue across health data & analytics M&A deals in the last 12 months
29x
Median EV/Revenue across health data & analytics VC rounds in the last 12 months
Key recent health data & analytics VC rounds
$300M Undisclosed stage raised by Verily was the largest health data & analytics VC round completed in the last six months.
See all health data & analytics VC rounds| Logo | HQ | Description | Investors | |||||
|---|---|---|---|---|---|---|---|---|
Mar-26 | Verily |  | Verily is a South San Francisco-headquartered Alphabet subsidiary advancing precision health through devices, software, and data platforms. Founded in 2015, it develops products like the Verily Study Watch for continuous health monitoring and Project Baseline for longitudinal research. Verily collaborates with Mayo Clinic and Novartis on cardiovascular studies and immune response projects, generating clinical evidence via AI analytics. | AlphabetSeries X Capital+2 | $300M | - | Undisclosed stage | |
Mar-26 | findhelp | | findhelp is a technology platform that connects individuals to verified social services including food pantries, housing assistance, healthcare, and mental health support across all United States ZIP codes. It integrates with electronic health records and community systems used by hospitals and nonprofits to deliver real-time search results via web and mobile app. Headquartered in Austin, Texas, findhelp partners with organizations such as UnitedHealthcare, Humana, and state agencies to streamline referrals for essential needs. The platform maintains a database of over 600,000 programs nationwide and supports multilingual searches in English and Spanish. | The Rise Fund | $250M | - | Undisclosed stage | |
Jan-26 | OpenEvidence | | OpenEvidence is a New York-based AI platform synthesizing peer-reviewed medical literature and journal content to deliver evidence-based answers for clinicians. It scans millions of studies for treatment recommendations, diagnostics, and guidelines, partnering with JAMA and NEJM. Launched in 2023, the tool supports bedside decision-making with cited sources and update alerts. | Alkeon CapitalBlackstone+10 | $250M | $12B | Series D | |
Apr-26 | TriNetX | | TriNetX is a Cambridge-headquartered global health research network connecting over 50 healthcare organizations worldwide. The platform provides de-identified patient data from electronic health records for clinical trial feasibility, site selection, and real-world evidence studies. Biopharma firms like Pfizer and Novartis use TriNetX to accelerate drug development. Compliant with HIPAA and GDPR, the network covers data from millions of patients across the United States and Europe since its founding in 2012. | Regeneron | $200M | - | Strategic investment | |
Mar-26 | Qualified Health | | Qualified Health is a provider of AI governance infrastructure for generative models in healthcare. Its platform monitors algorithm performance, enforces compliance, and builds domain-specific agents for diagnostics and administration. Qualified Health collaborates with major U.S. health systems on secure deployments. New York-based, the company addresses regulatory needs under HIPAA and FDA guidelines for clinical AI applications. | Anthology FundCathay Innovation+9 | $125M | - | Series B | |
Apr-26 | Iterative Health | | Iterative Health applies AI to gastrointestinal care through clinical trials and diagnostics. The healthcare technology company accelerates research to advance patient outcomes. | EDBIGV+3 | $77M | $1.3B | Series C | |
Feb-26 | Alaffia Health | | Alaffia Health is a healthtech firm deploying AI models to detect fraud, waste, and abuse in healthcare claims processing. Payers such as health plans, third-party administrators, self-insured employers, and government programs use its payment integrity platform. The system analyzes claims data in real time to flag overpayments and anomalies. Headquartered in the United States, Alaffia partners with carriers for stop-loss coverage optimization. | FirstMarkTau Ventures+2 | $55M | - | Series B | |
Jan-26 | Verana Health | | Verana Health is a San Francisco-headquartered digital health company that aggregates and analyzes real-world data from over 20,000 providers across 70 electronic health record systems. Exclusively partnered with medical societies like the American Academy of Ophthalmology, it powers the VeraQ engine for AI-enhanced insights from nearly half a billion patient encounters. Verana's Qdata datasets support life sciences firms in clinical research, evidence generation, and quality improvement for ophthalmology, urology, and gastroenterology specialties. | - | $52M | - | Undisclosed stage | |
Mar-26 | Cult.fit |  | Cult.fit is a Bangalore-headquartered health and fitness company founded in 2016. It operates over 280 gyms across 50 Indian cities, delivering trainer-led classes in yoga, dance, strength training, and cycling. The platform provides nutrition plans via EatFit cloud kitchens, mental wellness through Cult.Mind, and primary care consultations, serving 2 million monthly active users. | MacRitchie Investments | $48M | $1.5B | Series G | |
Jan-26 | VieCure | | VieCure is a precision oncology platform generating personalized cancer treatment plans from patient data. The engine incorporates NCCN guidelines, genomic sequencing from Foundation Medicine, and electronic health records to recommend therapies, clinical trials, and supportive care. Oncologists access dashboards for multidisciplinary tumor boards. Denver-headquartered, VieCure connects providers at community hospitals and NCI-designated centers nationwide. | Durable Capital PartnersMitch Rales+3 | $43M | - | Undisclosed stage | |
Feb-26 | Lotus AI | | Lotus AI delivers advanced analytics and unprecedented insights from personal health data. | CRVKleiner Perkins | $35M | - | Series A | |
Mar-26 | Pacegenix | | Pacegenix is a healthcare technology company building data-driven precision medicine for cardiovascular care. | - | $23M | - | Undisclosed stage | |
Dec-25 | Parallel Learning | | Parallel Learning is a New York-based provider of telehealth assessments and therapy for students with dyslexia, dysgraphia, dyscalculia, ADHD, and executive function challenges. Its clinicians deliver virtual evaluations and personalized learning plans to over 10,000 students across the United States. Parallel Learning partners with schools and families to implement evidence-based interventions. | Rethink ImpactValspring Capital | $20M | - | Series B | |
May-26 | Vital Signals | | Vital Signals is a health innovation business that addresses one of healthcare's persistent challenges. | XYZ Venture Capital | $15M | - | Seed | |
May-26 | Shanmu SHANMU |  | Shanmu is a Shanghai-based specialist in micro medical robots utilizing digital microfluidic chipsets and AI algorithms for urine analysis. Devices monitor metabolic biomarkers continuously, linking results to health conditions and chronic disease management protocols for diabetes and kidney disorders. The platform establishes personalized cycles for patient monitoring and physician alerts. | Bojiang CapitalShanghai Angel Club+5 | $15M | - | Series A |
VC investors active in health data & analytics
General Catalyst is the most active VC investor across health data & analytics, having invested in 17 startups in the last three years.
See all health data & analytics VCs| Logo | HQ | Description | Key portfolio | |||
|---|---|---|---|---|---|---|
General Catalyst | | General Catalyst invests in early-stage to growth companies across healthcare, fintech, enterprise software, and consumer sectors from offices in Cambridge, San Francisco, and New York. The firm manages over $25 billion in assets, backing unicorns like Airbnb, Stripe, and Canva. It supports applied AI initiatives through dedicated funds and provides operational expertise via its Resilience platform. | Beacon BiosignalsLucisBevel+2 | 17 | Series A | |
Y Combinator | | Y Combinator is a San Francisco-headquartered startup accelerator that funds and mentors early-stage technology companies across sectors like software, biotechnology, and fintech. Since its inception in 2005, it has propelled alumni including Airbnb, Dropbox, and Stripe through intensive three-month programs featuring Demo Days and investor networks. | Docura HealthEos AILucis+2 | 14 | Pre-seed | |
Antler |  | Antler is a Singapore-headquartered global venture capital firm founded in 2017 that invests in early-stage tech companies. It operates day-zero programs in 27 cities, backing 1,000+ startups with $100 million deployed annually across AI, fintech, and sustainability. Portfolio includes unicorns like Hold One and Tiqets, with a network of 3,000 mentors and 700+ investors for follow-ons. | DatamonkRayLifeFoodHealth+2 | 12 | Pre-seed | |
Techstars | | Techstars is a Boulder-headquartered global network founded in 2006 that operates over 50 accelerators annually across 15 countries. It invests $120,000 in exchange for 6 percent equity in 500 startups yearly, spanning AI, sustainability, and healthcare. The firm manages a venture fund deploying capital into alumni companies and runs corporate partnerships with brands like Amazon and Barclays for innovation pilots. Techstars portfolio exceeds 3,500 companies valued over $15 billion collectively. | HapWareHormonaNimblemind.ai+2 | 10 | Pre-seed | |
Alumni Ventures | | Alumni Ventures is a Manchester, New Hampshire-headquartered venture capital firm managing diversified portfolios for 10,000 accredited investors. Operations run 50 funds targeting seed through Series B stages in AI, biotech, and climate tech. Sourcing draws from 1,000 university alumni networks with co-investments alongside Sequoia and a16z across 1,400 portfolio firms. | Century HealthEmmEpicore Biosystems+2 | 9 | Seed | |
Samsung NEXT | | Samsung NEXT is a Silicon Valley-based venture studio investing in AI, blockchain, AR/VR, and healthtech startups through its $500 million fund. The group accelerates prototypes for Samsung integration, backing companies like Sentieo for fintech analytics and PathAI for pathology software from offices in San Francisco and Tel Aviv. | Beacon BiosignalsSibel HealthWellTheory+2 | 8 | Series B | |
Khosla Ventures | | Khosla Ventures is a Menlo Park-headquartered venture capital firm investing in early-stage companies across AI, climate technologies, digital health, and enterprise software. Founded in 2004 by Vinod Khosla, it has backed over 1,000 startups including DoorDash, Square, and Impossible Foods, managing more than $15 billion in assets committed. | Radical HealthGather HealthHealthifyMe+2 | 8 | Series D | |
Right Side Capital Management | | Right Side Capital Management is a quantitative pre-VC investment firm targeting capital-efficient tech startups. Operating from the US, it focuses on seed rounds under $500K in sectors like SaaS and fintech. Since 2012, the firm has built diversified portfolios using data-driven processes. Managing directors, experienced founders from the 1990s tech era, provide operational support structured like a startup funding others. | Eroma HealthBioMedictConsusis+2 | 8 | Pre-seed | |
GV | | GV is a Mountain View-headquartered venture capital firm backed exclusively by Alphabet that invests in life sciences, consumer products, enterprise software, cryptocurrency, climate technologies, and frontier innovations. It deploys capital primarily in North America and Europe, supporting portfolio companies with operational expertise in design, talent acquisition, engineering, and connections to Google technologies. Notable investments include Uber, Nest Labs, Slack, GitLab, and One Medical. | Iterative HealthBeacon BiosignalsOpenEvidence+2 | 7 | Series B | |
Transformation Capital | | Transformation Capital is a Boston-headquartered healthcare venture firm managing two funds succeeding Leerink Transformation Partners. Founded in 2016 by Todd Cozzens and Jared Kesselheim, it invests $500 million in biotech and medtech across 25 portfolio companies like Sionna Therapeutics. Affiliated with SVB Leerink, Transformation Capital focuses on oncology and rare diseases in the US. | Qualified HealthAlaffia HealthCitizen Health+2 | 7 | Series B |
Founders and investors we've worked with
We've supported winning builders across health data & analytics and beyond.
Orka
We advised Elysian Fields on its investment into Orka, a Reykjavik-based portfolio of online consumer lending platforms, supporting deal structuring and growth-capital deployment in the Icelandic fintech market.
See more
GoTrendier
We advised GoTrendier, the leading second-hand fashion marketplace in LatAm (Mexico and Colombia), on its $14m Series B fundraise led by IDB.
See more
Ziik
We acted as fundraising advisor to Ziik, a Copenhagen-based all-in-one social intranet and internal communication SaaS platform, on its growth funding round.
See more
Sentryc
We led the capital raising process for Sentryc, a Berlin-based AI-driven brand protection and IP software provider, on its growth round led by Seventure Partners.
See more
Krita
We advised Swiss investor Elysian Fields on its growth investment into Krita, the leading factoring platform in the Icelandic market.
See moreRecent VC fundraising track record
See our VC fundraising experience across health data & analytics and beyond.
Explore our VC fundraising offering for similar verticals
We're a specialized fundraising advisor to digital health companies.
Our VC fundraising experience spans across all digital health verticals.
Explore other sectors
We know tech inside & out.
We provide capital raising advisory services to companies operating across the entire tech.
More services
We're with you before and after raising VC money: we help you organise your FP&A as fractional CFOs, and coordinate your M&A process.
Fractional CFO for health data & analytics companies
We integrate into your workflows to help with financial modelling, build out FP&A tech stack, and ultimately provide guidance towards an M&A or raising venture capital.
Learn moreM&A for health data & analytics companies
We advise winning tech companies on M&A exits, and over the years successfully executed numerous transactions with both financial and strategic buyers.
Learn moreTalk to us
Schedule a call to get a health check on your business and see how we could help.
Fractional CFO
- Fractional CFO for Software
- Fractional CFO for AI & ML
- Fractional CFO for Fintech
- Fractional CFO for Consumer internet
- Fractional CFO for Digital media
- Fractional CFO for E-commerce & marketplaces
- Fractional CFO for Consumer products
- Fractional CFO for Mobility
- Fractional CFO for Digital health
- Fractional CFO for Industrial technology
- Fractional CFO for Digital infrastructure
- Fractional CFO for IT services
Stages
Countries
- UK Fractional CFO
- Ireland Fractional CFO
- France Fractional CFO
- Germany Fractional CFO
- Spain Fractional CFO
- Portugal Fractional CFO
- Italy Fractional CFO
- Netherlands Fractional CFO
- Belgium Fractional CFO
- Switzerland Fractional CFO
- Austria Fractional CFO
- Denmark Fractional CFO
- Sweden Fractional CFO
- Norway Fractional CFO
- Finland Fractional CFO
- Poland Fractional CFO
- Estonia Fractional CFO
- US Fractional CFO
- Canada Fractional CFO
- Mexico Fractional CFO
- Brazil Fractional CFO
- UAE Fractional CFO
- Australia Fractional CFO
Cities
- London Fractional CFO
- Dublin Fractional CFO
- Paris Fractional CFO
- Berlin Fractional CFO
- Madrid Fractional CFO
- Lisbon Fractional CFO
- Milan Fractional CFO
- Amsterdam Fractional CFO
- Brussels Fractional CFO
- Zurich Fractional CFO
- Vienna Fractional CFO
- Copenhagen Fractional CFO
- Stockholm Fractional CFO
- Oslo Fractional CFO
- Helsinki Fractional CFO
- Warsaw Fractional CFO
- Tallinn Fractional CFO
- New York Fractional CFO
- Toronto Fractional CFO
- Mexico City Fractional CFO
- São Paulo Fractional CFO
- Dubai Fractional CFO
- Sydney Fractional CFO