The following is a excerpt from the Medical Alley blog. To read more and browse other stories, head to medicalalley.org.
A year after raising over $1 billion in capital for the first time ever, Medical Alley companies accomplished the feat again, this time needing just three quarters to pass the $1 billion mark. Medical Alley was already known as The Global Epicenter of Health Innovation and Care™, but back-to-back years with over $1 billion raised establishes that this region will continue its tremendous growth, built on the world-class foundation established here over the last 50 years.
In total, 58 Medical Alley companies have raised $1,015,712,605 so far this year, showing the strength of the early- and growth-stage ecosystem here and proving that 2019’s billion-dollar year was a show of ongoing growth. Digital health currently leads all sectors, having raised more than $658.6 million this year, but medical device companies are drawing substantial interest as well, with $315 million brought in so far this year.
Of the more than $1 billion raised this year, $759.3 million was raised in the third quarter alone, led by Bright Health’s mammoth $500 million Series E raise announced just eight days before the quarter’s end. Even before their exciting announcement, however, Medical Alley companies had already established a new record for funds raised in a third quarter — thanks to raises from Preventice Solutions, CVRx, and CardioMech — and had locked down the second strongest year-to-date in the last 10 years.