Health Tech companies of all sorts and sizes are sprouting up on the financial landscape like mushrooms after a summer rain. But instead of water, the factor that makes this growth possible is money. Venture capital firms are pouring cash into Health Tech at an unprecedented rate. According to an article in Venture Beat, Google Ventures has chosen to invest heavily in the life sciences sector in 2014. It was their largest category, with 36% of their total investments for the year.
Google Venture is the venture capital investment part of Google. They have invested in more than 250 companies including well-known names like Uber, Nest, and Tune-In. Their Health Tech investments include 23andMe, the company that provides DNA analysis for consumers, providing insights into their genetic background. Other companies are developing powerful analytic cloud tools to analyze data from cancer patients and other health information. They also have backed Doctor On Demand, a company that provides consumers with access to healthcare professionals through telemedicine.
Venture funding is not a particularly visible aspect of the Health Tech revolution, but it’s an essential one. I will be moderating a panel discussion about venture capital funding for Health Tech companies at International CES 2015 in Las Vegas on Tuesday, January 6 entitled “2015: The Year of Funding It Forward.” It will be part of the “Lifelong Tech Summit” produced by Living in Digital Times.