10 Top Healthtech Startups to Watch in 2022

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Here at Startup Savant, we love startup culture. That’s why we identified the most exciting, innovative, and creative healthtech startups to watch in 2022 and beyond. From Akasa to Paige — these are the top healthtech companies to follow. 

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Top Healthtech Companies to Watch

Every year, new startups pull to the forefront of their industry through exciting innovation and industry-disrupting business models. We’ve rounded up the most exciting healthtech startups of 2022 that startup-lovers, investors, and aspiring entrepreneurs should follow. 

Disclaimer: With so many exciting startups launching and growing worldwide, we aren’t able to cover them all. Furthermore, the startups that are listed below are not officially ranked and are listed in no particular order.

1. Akasa

  • Location: San Francisco, California
  • Founders: Andy Atwal, Benjamin Beadle-Ryby, Malinka Walaliyadde,Varun Ganapathi
  • Founded In: 2018
  • Funding: Series B, $85 Million
  • Investors Include: Andreessen Horowitz, Costanoa Ventures, James Momtazee

Akasa is a startup that’s focused on developing artificial intelligence (AI) solutions for healthcare operations, ultimately helping healthcare providers and medical centers reduce their operating costs, free up their staff, and allocate resources more effectively. 

Akasa works by pairing human intelligence with its cutting-edge AI and machine learning (ML) algorithms that are trained on customer data. After training, the AI is able to work with unique healthcare systems and adapt as environments change, even if those workflows are complex. Akasa is able to successfully leverage its AI to provide automation and analytics for healthcare organizations and help them improve operations and drive revenue while improving the patient experience.

2. Path

  • Location: Los Angeles, California
  • Founders: Josh Bruno
  • Founded In: 2018
  • Funding: Series B, $82.3 Million
  • Investors Include: Upfront Ventures, Wing Venture Capital, Meridian Street Capital

Path is a mental health startup that was built to match patients with thousands of psychiatrists, therapists, and other mental health professionals virtually. If someone wants affordable online therapy that they can access anytime and anywhere, Path built a solution that allows these patients to quickly and easily connect with a therapist. 

When someone uses Path, all they have to do is answer a few questions in the beginning in order to narrow down providers to one that fits their needs, and then schedule an appointment. Once an appointment has been scheduled, the patient can then create a continuous schedule with their therapist and start on a mental health program that allows them to see progress and get results.

3. Medallion

  • Location: San Francisco, California
  • Founders: Derek Lo
  • Founded In: 2020
  • Funding: Series B, $50 Million
  • Investors Include: Spark Capital, Optum Ventures, Sequoia Capital

Medallion is a San Francisco-based startup that’s focused on reducing the amount of administrative work in healthcare in order to help healthcare professionals spend more time with their patients. The platform created by the Medallion team allows its users to license providers, monitor their credentials, verify their credentials, and establish in-network coverage with various insurance payers. 

Since a healthcare professional needs to hold a valid medical license in the state that they are practicing in, challenges can arise when it comes to telehealth and remote physician calls. Medallion solves this problem by allowing healthcare providers and nurse practitioners to be licensed in multiple states, letting them help patients remotely.

4. Circulo Health

  • Location: Columbus, Ohio
  • Founders: Sean Lane
  • Founded In: 2020
  • Funding: Series A, $50 Million
  • Investors Include: Drive Capital, SVB Capital, General Catalyst, Oak HC/FT

Circulo Health is a Medicaid insurance company focused on using technology to help the poorest and sickest populations among us. Their vision is to rebuild Medicaid and allow underserved communities to get access to the world-class healthcare they deserve. Circulo Health offers home and community-based services, and primary health care services, aiming to fix healthcare “one brick at a time.”

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5. Modern Fertility

  • Location: San Francisco, California
  • Founders: Afton Vechery, Carly Leahy, Tom Chokel
  • Founded In: 2017
  • Funding: Series A, $22 Million
  • Investors Include: #Angels, First Round Capital, Steph Korey

Modern Fertility is a reproductive health company that’s making fertility information more accessible. When someone uses Modern Fertility and takes their hormone test, they can get access to physicians who review their results and get answers to any questions they may have about their reproductive health. Once the test sample is processed, whether it was taken using the home test or in a lab, all of the results are compiled into a fertility profile that can be viewed in just a few days after review by fertility doctors. 

All in all, Modern Fertility is making it easier to understand and measure reproductive health and get answers from fertility experts without having to jump through all of the usual hoops.

6. Paige

  • Location: New York, New York
  • Founders: David Klimstra, Norman Selby, Peter Schüffler, Thomas Fuchs
  • Founded In: 2018
  • Funding: Series C, $220 Million
  • Investors Include: Goldman Sachs Merchant Banking Division, Breyer Capital, Johnson & Johnson

Paige is a startup built by pathologists focused on using next-generation computational technologies to allow doctors to get more insights into their patients and optimize patient outcomes. They develop novel AI applications that can be deployed within various laboratories and provide new data and insights pathologists can use to identify hard-to-recognize or difficult tissue patterns. 

Paige is currently the first FDA-approved pathology product based on AI and is available for diagnostic use in-vitro. 

7. PatientPop

  • Location: Santa Monica, California
  • Founders: Luke Kervin, Travis Schneider
  • Founded In: 2014
  • Funding: $125 Million
  • Investors Include: Toba Capital, Silicon Valley Bank, Leerink Transformation Partners

PatientPop is designed to help both medical professionals and their patients improve their quality of care and the process of receiving care. With PatientPop, it’s easy to set up appointments, do online registration, and even submit payments through a single platform. This frees up staff that need to do tedious paperwork, cutting down on costs and wait times for patients.

PatientPop is also unique in that it offers medical health marketing. Your medical practice can rank higher, translating to more patients utilizing your services and increased revenue. PatientPop combines the best of marketing for medical clinics, as well as adding convenience for patients themselves, with the help of their app.

8. Cityblock Health

  • Location: Brooklyn, New York
  • Founders: Bay Gross, Iyah Romm, Mat Balez, Toyin Ajayi
  • Founded In: 2017
  • Funding: $891.3 Million
  • Investors Include: Thrive Capital, Maverick Ventures, Redpoint, 8VC

Cityblock Health was founded with the goal of helping everyone in the community, whether in lower income or higher income neighborhoods, get access to the best mental health support, medical care, and social services all at once. Cityblock Health partners with existing providers to help fill in the gaps wherever it is needed.

They have medical care staff on hand to support someone’s health, including nurse practitioners, doctors, care managers, and specialists. The unique aspect about Cityblock Health is that they can provide you with care and get you set up with a medical care partner in person, virtually, or in a safe space near you, 24 hours a day, 7 days a week.

For people that need access to mental health care and social services to transport to and from doctors appointments and get additional care, Cityblock Health is also here to help.

9. Tempus

  • Location: Chicago, Illinois
  • Founders: Eric Lefkofsky
  • Founded In: 2015
  • Funding: $1.1 Billion 
  • Investors Include: New Enterprise Associates, Baillie Gifford, Revolution Growth, T. Rowe Price

Tempus is helping to increase patient care outcomes in the fields of oncology, or cancer treatment, neuro-diseases, infectious diseases, cardiology, and much more. Tempus has gathered clinical and molecular data, which it now uses along with its AI-based technology to help providers understand the predictive outcomes of patients.

Testing is available to help determine the best treatment options for patients, helping to improve their quality of life and outcomes. Through precision medicine and lessons learned from other patients, Tempus helps providers make real-time science-based decisions for care.

See more of the top Chicago startups.

10. Calm

  • Location: San Francisco, California
  • Founders: Alex Tew, Michael Acton Smith
  • Founded In: 2012
  • Funding: $218 Million
  • Investors Include: Insight Partners, Thesyndicate.com, Elefund

Although started in 2012, Calm is now making waves in the health tech industry. It is one of the most popular apps to help people relax and get access to meditative guided audios and stories. They have a number of celebrity endorsements and now have amassed $218 million in funding since the pandemic has caused a large number of people to seek out self-care apps and services at home.

The Calm app is available on iOS and Android, and it provides other features such as breathing exercises, meditation, and techniques to help improve focus, self-improvement, and more.

Recommended: Check out our full list of the top startups to watch!

FAQs

What is a health tech startup?

A health tech startup is any company that focuses on improving health care for patients, medical providers, and everyone in between. Health tech startups focus on providing innovative services for people, such as virtual visits, or improving existing partnerships with insurance companies, clinics, and other medical facilities. 

Health tech startups are focused on improving the overall patient care experience and can include medical care, mental health care, social services, and even self-care services.

What does the future of the health tech industry look like?

Health care and health tech industries are seeing a huge increase in spending and investing and for good reason. Now, more than ever, more people are focusing on improving patient care in order to save on resources, utilize existing resources such as staffing in the most efficient way possible, and improve overall quality of life. 

From 2016 to 2021, global healthcare industries received10 an extra 280% in investments totaling $51.3 billion. This just goes to show how important this type of industry is, and why investors are eager to fund them in order to help public interest.

How do you start a health tech startup?

If you’re wondering how to begin a startup in the health tech industry, it’s important to know you’ll need expert consultants by your side. Partner with an expert in the field, such as an insurance provider or even medical doctor, so you can better understand how the industry you’re looking to create innovations for currently works. 

For instance, if you want to start a mental health app, do your research to understand how people currently receive their mental health care. Then, use your market research to understand what it is people need and how to provide that service for them.

What are some helpful resources for health tech startups?

There are various resources you can use to help provide extra funding for your health tech startup. These include:

  • Accelerators are firms that can invest capital into your business during the beginning stages of development.
  • Incubators are physical locations designed to provide a workspace that also has resources such as training, mentorship, and even seed funds to help launch your business off the ground.
  • VC firms are dedicated to providing capital for businesses that want to expand, increase revenue, and reach new markets. VC Firms are plentiful, and they will want to look at your business in order to determine if an investment could help lead to more gains for them. If you’ve already sold your product and are now looking to make more money and sell more units, venture capital firms are the best way to go.

About the Author

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