FINN Partners and Galen Growth Digital Health in Massachusetts 2022 Year-End Report
April 11, 2023
The FINN Partners and Galen Growth Digital Health in Massachusetts 2022 Year-End Report examines shifts in digital health investment in Massachusetts and the New England region, drawing input from more than 300 million data points and over 13,000 ventures.
A Look Inside
Total investment dollars in digital health in Massachusetts took a dive in 2022, down 59% from 2021 to $2.62B in total venture funding. Massachusetts ventures may be well-prepared to be resilient against the funding downturn based on venture capital funding history, far outperforming the regional average.
Private equity and business development dollars continue to flow toward the digital category directed toward disease-agnostic opportunities followed by specific therapeutic categories with oncology and mental health leading. Presenting strong clinical evidence is important in digital health; and MA ventures with a strong evidence signal include remote devices and patient solutions followed closely by clinical trials and research solutions.