- 2020 has been a bumpy year for startups as they navigate the financial fallout of the coronavirus pandemic.
- Even so, healthcare startups managed to raise hundreds of millions, with some hitting unicorn status.
- Others have started gearing up to go public, while Grail has become the target of an $8 billion acquisition.
- There are 21 healthcare startups that have reached unicorn status — or the $1 billion and over valuation mark — according to valuations determined by PitchBook, CB Insights, and Business Insider’s reporting.
- For more stories like this, sign up here for Business Insider’s daily healthcare newsletter.
2020 has been a pivotal year for healthcare and biotech startups.
In the wake of the coronavirus pandemic, healthcare startups have been having a big year of fundraising, initial public offerings, and billion-dollar valuations.
In the first quarter of 2020, healthcare startups raised $14.6 billion, up from the $13.5 billion the companies raised in the same period of 2019. In the second quarter, they raised $18.1 billion, a new record, per CB Insights.
That’s led to a crop of newly minted healthcare unicorns in 2020, or startups valued at more than $1 billion. Along the way, some like GoodRx and Amwell have made their stock-market debuts, while others, including cancer-detection company company Grail, have been the target of acquisitions. In September, sequencing giant Illumina said it’s buying Grail in an $8 billion deal.
Business Insider rounded up the 21 healthcare companies currently valued at more than $1 billion, according to PitchBook, CB Insights, and additional reporting.
This article was updated on November 5 with new funding for Bright Health. It was previously updated with Hims and Clover Health’s plans to go public via SPAC, Illumina’s deal for Grail, and new funding for Oscar Health, and to remove Alto Pharmacy and GoodRx and add Lyra, VillageMD, and Ro.
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