NEW YORK, NY — December 8, 2021 — CB Insights today named Castor, a leading provider of decentralized and hybrid clinical trial solutions, to its third annual Digital Health 150, which showcases the 150 most promising private digital health companies in the world. This year’s Digital Health 150 was unveiled live during CB Insights’ annual Future of Health event.
The 2021 Digital Health 150 cohort has raised roughly $14.9B in aggregate funding across 522 deals since 2016 and includes startups at various investment stages of development, from early-stage to well-funded unicorns. Companies this year include startups working on data integration & analytics, hybrid remote/ in-person care, digital therapeutics, clinical intelligence, and more.
“This year’s Digital Health 150 is one of our most expansive yet, spotlighting 16 categories including virtual care, clinical trials tech, and workflow automation, as well as adding new categories such as home health tech and computer-aided imaging,” said Brian Lee, SVP of CB Insights’ Intelligence Unit. “Last year’s class has seen more than 20 exits, raised an additional $18.6B in aggregate funding, and announced over 250 partnerships since being recognized, and we’re excited to see the future success of this year’s winners.”
“We’re thrilled that CB Insights has recognized our accomplishments this year, including our efforts supporting all COVID-19 research for the World Health Organization and powering clinical trials for 20+ next-generation digital health companies, alongside fellow finalists MedRhythms, Mahana Therapeutics, and Woebot Health,” said Derk Arts, MD, CEO & Founder, Castor. “The growth and momentum we’re experiencing speak to the value we’re delivering for both pharma, digital health, and researchers across the globe, and are honored to be named to the CB Insights Digital Health 150 ranking this year.”
Through an evidence-based approach, the CB Insights research team selected the Digital Health 150 from a pool of over 11,000 companies, including applicants and nominees. They were chosen based on several factors, including data submitted by the companies, company business models and momentum in the market, and Mosaic scores, CB Insights’ proprietary algorithm that measures the overall health and growth potential of private companies.
Castor offers a leading cloud-based clinical data platform that simplifies the clinical trial process, from recruitment to analysis, for global research. Since 2014, Castor has supported over 8,500 studies across 100+ disease indications and reached over 3 million participants across more than 90 countries. In 2021, Castor closed $45M Series B funding and more than doubled its workforce to 172 employees across 18 countries. Founded on the mission to democratize research across the globe, Castor has been powering ground-breaking COVID-19 research since the start of the pandemic, donating its technology to more than 300 COVID-19 studies across 40 countries.
2021 Digital Health 150 Investment Highlights:
- Unicorns: 17 of the 150 companies (11%) are valued at or above $1B as of their latest funding rounds.
- Funding trends: In 2021 year-to-date (YTD), these 150 private companies have raised $9.2B in equity funding across 153 deals (as of 11/19/21).
- Mega-rounds: Since 2020, there have been 39 mega-round ($100M+) equity investments to this year’s Digital Health 150, with 31 (79%) of them taking place in 2021 YTD.
- Global representation: 23% of the 2021 Digital Health 150 are based outside the US. After the US, the UK is home to the most Digital Health 150 companies (9), followed by India (4). This year’s winners are based in 18 countries, including China, Israel, Nigeria, Germany, Argentina, and New Zealand.
- Top VC investor: General Catalyst is the most active investor in this year’s Digital Health 150 companies, having invested in 39 deals since 2016.
About CB Insights
CB Insights builds software that enables the world’s best companies to discover, understand, and make technology decisions with confidence. By marrying data, expert insights, and work management tools, clients manage their end-to-end technology decision-making process on CB Insights. To learn more, please visit www.cbinsights.com.
Castor is a leading provider of decentralized and hybrid clinical trial solutions to democratize research. With the highest-rated eClinical platform for decentralized and hybrid clinical trials, Castor’s plug-and-play platform offers rapid deployment at scale, enabling researchers to create a trial in a matter of clicks, with easy enrollment, eConsent, and real-world data capture. Castor is bringing human-centered design to the clinical trial process, from recruitment to analysis, and improving the quality, security, and reusability of data for researchers worldwide. For more information, visit www.castoredc.com. Follow us on Twitter at @castor.