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THE STATE OF NYC DIGITAL HEALTH
2020
S PEC IAL R EP O RT
2
In June, we, along with the rest of the country, began a reckoning about racism’s long-term impact on our society. Health disparities and inequities during the pandemic were acutely apparent.
NYC Health Business Leaders (NYCHBL) and AlleyCorp wanted to understand the impact of this historic moment on our healthcare ecosystem. We were particularly interested in the digital health sector, which had been growing strongly prior to COVID-19. With both organizations laser-focused on New York and its health economy, we partnered on this timely analysis.
In late June, we fielded a survey inviting leaders with direct experience in the New York digital health market to participate. Within a month we had over 100 responses from leading entrepreneurs, investors, clinicians, and professionals. This report analyzes those results and shares some of the thoughtful reflections of respondents. A few key themes stood out, which are summarized on page 4.
In addition to the individual and organizational efforts of those surveyed, there was an outpouring of support for non-profits (highlighted on page 19)
committed to building an infrastructure that promotes access and equity.
Thank you to all who contributed to The State of NYC Digital Health. A special acknowledgment goes out to Sherman Leung, a student at Mt. Sinai’s Icahn School of Medicine and AlleyCorp associate. We are also grateful to J.P. Morgan for their support.
What an unexpected journey to start a new decade. One thing is clear: New Yorkers are galvanized and undeterred to change healthcare for the better.
The first half of 2020 will stand out in New Yorkers’ minds for years to come. Virtually overnight in March, our city became the nation’s epicenter of COVID-19. We witnessed the excruciating toll the virus took on thousands of patients and the immense heroism our doctors, nurses and frontline workers displayed in caring for them.
BUNNY ELLERIN President, NYC Health Business Leaders
INTRODUCTION
BRENTON FARGNOLI, MD Partner, AlleyCorp
3
DIGITAL HEALTH COMPANIES3D Smile
AbleTo
AdhereTech
Aetion
At Point of Care
BetterPT
Capital Rx
Capsule
Cedar
CipherHealth
Cityblock Health
Clarify Health
Click Therapeutics
Covera Health
Crossix
Curist
Doximity
Elektra Health
Everyday Health Group
Famx
Fern Health
Fitango Health
Force Therapeutics
Genoa Telepsychiatry
GoMo Health
HealthReveal
Heartbeat Health
Hico Health
Kognito
Medly Pharmacy
n*gram health
Nirvana Health
Nomad Health
OTS Health
Parachute Health
PulsePoint
Redesign Health
Ro
Roster Health
RubiconMD
SiteRx
Slingshot Health
Stellar Health
Tempest
The TeleDentists
Twentyeight Health
Unite Us
Vesta Healthcare
Vytalize Health
Wellthie
Yosi Health
INVESTORS.406 Ventures
AlleyCorp
Canaan
Casdin Capital
Cigna Ventures
Collaborative Fund
Deerfield Management
Digitalis Ventures
Flare Capital Partners
Global Founders Capital
Gore Range Capital
J.P. Morgan
Khosla Ventures
Lerer Hippeau
Lifeforce Capital
Meridian Street Capital
Newark Venture Partners
Northwell Holdings & Ventures
Oak HC/FT
Optum Ventures
Oxeon/Town Hall Ventures
Primary Ventures
Radian Capital
RRE Ventures
Silicon Valley Bank
Spring Mountain Capital
Trail Mix Ventures
Windham Venture Partners
KEY STAKEHOLDERSAccenture
Atlantic Health System
BDO
Bellevue
CVS Health
Deloitte
Design Technologies
Glimpse Advisory Group
Jones Day
Kyu Collective
Merck
Mount Sinai Health System
National Coalition on Health Care
NYC Department of Health and Mental Hygiene
NYU School of Medicine
Rock Health
Social Creatures
Staten Island PPS
Weill Cornell Medicine
Workers Benefit Fund
Many Thanks to Our ContributorsThank you to the 100+ entrepreneurs, investors, clinicians, and executives from the organizations below who responded to the survey and shared their valuable insights.
4
1 Digital health investment remains strongWhile some feared that COVID-19 would push start-up funding to the brink, we now know that the opposite has occurred in digital health. As telehealth, home health and virtual care became the norm, several NYC companies became the new engines of healthcare delivery. Investors continued to pour money into digital health: as of July 31, 2020, 70 NYC companies in the sector raised $1.5 billion, surpassing the $1.2 billion raised in all of 2019.
2 Virtual is here to stay, both for healthcare delivery and workforcesThe stay-at-home order forced many providers to try telehealth, while regulatory and reimbursement changes cemented widespread adoption. Even as hospitals and physician offices reopen, virtual care will remain a steady presence. Recent funding for Ro, K Health, Maven and Pager reflects this sentiment.
Similarly, work from home (WFH) has emerged as the new normal. Many in the start-up community do not plan to return to pre-COVID offices: some will downsize, others will remain virtual.
3 Behavioral Health can’t be ignored Study after study has shown an increase in anxiety, stress and depression as a result of the pandemic. From both an investor and employer standpoint, mental health and wellness are key priorities. NYC’s start-up community is full of innovative models: Talkspace, Spring Health, Quartet, to name a few. Optum’s acquisition of AbleTo in Q2 was another indication that behavioral health services are a critical unmet need.
4 D2C is no longer DOA in healthcare Healthcare that is convenient, accessible, and hassle-free is no longer a dream. Whether it’s pharmacy delivery (Capsule, Medly Pharmacy), behavior change (Noom, Tempest), asynchronous care (ThirtyMadison, Ro) or an easier way to manage payments (Cedar), New York is leading the way with consumer health companies.
5 Health equity is on the agendaThe impact of social determinants of health (SDoH) has been magnified during COVID-19. New York’s most vulnerable communities have been disproportionately affected with thousands of lives lost. Investors are looking to companies like Cityblock, Unite Us and Healthify to develop solutions that address healthcare access and equity.
5 KEY INSIGHTS
5
COVID-19’s Impact
DR. DAVE CHOKSHICommissioner, New York City Department of Health and Mental Hygiene
Health equity is not a sideshow during the pandemic, it’s the main event.
GIL ADDO CEO & Co-founder, RubiconMD
COVID-19 has given us a unique opportunity to create a more equitable healthcare system. We’ve placed an even larger focus on partnering with other healthcare tech organizations to build comprehensive offerings that increase access to specialty care. By working together, we can shape the future of telehealth.
ERIC KINARIWALAFounder & CEO, Capsule
Great teams rise to the occasion.
SLOAN GAON CEO, PulsePoint
Going forward, mental health will be dealt with as seriously as cancer is today.
DR. TOYIN AJAYIChief Health Officer and Co-founder, Cityblock Health
The importance of the social determinants of health, and the intersection of social, emotional, and physical care have never been more clear. Place-based and virtual care will shape the future of healthcare delivery.
CAROLYN MAGILL CEO, Aetion
NYC’s health care ecosystem has demonstrated what we can achieve when we apply our minds and resources to a common goal. And now we have a roadmap for the future.
6
Despite being at the center of COVID-19, NYC digital health financing has reached all-time highs. In just 7 months, NYC companies have amassed $1.5 Billion in funding, surpassing all of 2019 funding by 25%.
COMPANIES HAVE RAISED 70
$1.5B
VC FINANCING BY QUARTER
YTD through July 31, 2020
DIGITAL HEALTH FUNDING
# OF COMPANIES
5 YEARS OF NYC DIGITAL HEALTH
2016 2017 2018 2019 2020
2500
TOTAL CAPITAL RAISED
2000
1500
1000
500
0
125
100
75
50
25
0
PROJECTED
10596
9482
71
$889
$532
$1,320 $1,280
$2,249
QUARTER 1
QUARTER 2
QUARTER 3 (through 7/31/20)
$345M
$417M
$737M
FU
ND
ING
25 DEALS
62 DEALS
18 DEALS
MIL
LIO
NS
CO
MP
AN
IES$1,499
* EARLY STAGE: includes pre-seed, seed and Series A. Late stage includes Series B and beyond.
** TECH: a healthcare company that primarily offers pure software or technology to its customers (Cedar, Ribbon Health)
TECH-ENABLED SERVICES: the core offering is primarily a service product but is enabled by technology to deliver services more efficiently and with a better patient experience (e.g., Oscar, Tia Health).
7
25%
FUNDING BY SECTOR
5 10 15 20 25
FUNDING BY STAGE*FUNDING BY TECH VS
TECH-ENABLED SERVICES**
DIGITAL PHARMACY was the largest area of investment followed by patient engagement. Though it’s exciting to see over $100M invested into Social Determinants of Health, we expect to see far more growth in this area given the glaring healthcare disparities the pandemic has highlighted.
63%Late Stage
37%Early Stage
62%Tech
38%Tech-
enabled Services
DIGITAL HEALTH FUNDING
22%
15%15%
13%
9%
8%
7%
Digital pharmacy
Patient engagement
Insurance
Analytics
Provider tools
Social determinants of health
Women’s health
0
Analysis based on dollars invested
8
What is it like to raise money during a pandemic?
Both COVID-19 and systemic racism disproportionately challenge Cityblock’s communities, and increase the imperative for us to serve. Because COVID-19 reveals the deep fractures of our society, the inequity of our social and health safety net, and the need for a radical transformation of community health, it lays bare the very reasons that we built Cityblock. We are thrilled that world class investors realize the value and urgency of our mission and want to support us on this journey.
We began fundraising in early May. It was challenging to conduct the entire process remotely, but within three weeks we decided on our lead investor. I know that this is a difficult time for many startups. My advice: watch expenses carefully and spend only in areas necessary to scale the business and get closer to your vision. It’s easy to hire too fast in areas that scale nicely without more people. Make a plan before hiring and then hold to it diligently.
We were fortunate to have started conversations with our current series B investors before the pandemic, having raised a higher amount to prepare for the uncertainty ahead. We were lucky to find a group of investors that have domain knowledge as well as conviction in our business. COVID-19 in many ways has propelled the healthcare industry 3-5 years, making businesses like ours essential not just for the current pandemic, but for creating models that pave the way for better health outcomes for all.
While everyone in the industry would have hoped for a different reason, the pandemic has showcased that now, more than ever, telehealth can serve as a complement to in-person care. Our efforts during COVID-19, as well as our growth to date, helped lay the groundwork for our most recent funding round. We were fortunate to have existing investors, who have supported our mission to build a patient-centric healthcare system from the beginning, double down on their support to help Ro turn our vision of being a patient’s first call into a reality.
ZACHARIAH REITANO Co-founder & CEO, Ro
$100m
$54m
$102m
MARG PATEL CEO, Medly Pharmacy
FLORIAN OTTOCEO, Cedar
IYAH ROMM CEO, Cityblock Health
$200mJuly 2020
June 2020
July 2020
July 2020
9
TOP 20
Digital Health Investments (YTD through July 31, 2020)
No. Company Description Funding (M) Stage Select Investors
1Health insurance company that employs technology, design, and data to humanize health care.
$225Late stage
GV, Khosla Ventures, General Catalyst, Thrive Capital, Lakestar, Baillie Gifford
2Direct-to-consumer telehealth company with brands Roman, Rory and Zero.
$200Late stage
General Catalyst, FirstMark Capital, Torch, SignalFire, TQ Ventures, Initialized Capital
3Patient payment and engagement platform for hospitals, health systems and medical groups.
$102Late stage
Andreessen Horowitz, Kaiser Permanente, Kinnevik, Thrive Capital, Lakestar, Founders Fund
4Full-service, digital pharmacy offering free same-day prescription delivery.
$100Late stage
Volition Capital, Greycroft, Horsley Bridge, Lerer Hippeau
5Provides at-home lab testing and clinical services.
$71Late stage
Illumina Ventures, HLM Venture Partners, Deerfield, CommonFund Capital, Angeles Investments
6Provides personalized primary care, behavioral health care, and social services for underserved urban populations.
$54Late stage
Kinnevik, AIMS Imprint, Alphabet, Maverick Ventures, Redpoint Ventures, Town Hall Ventures
7Mobile-health platform and device for self physical examination, and remote diagnosis.
$50Late stage
Insight Partners, Olive Tree Ventures, Qualcomm Ventures
8Primary care symptoms based app that uses AI.
$48Late stage
14W, Mangrove Capital Partners, Lerer Hippeau, Anthem, Primary Ventures
9High-quality healthcare on-demand and modern family benefits for women and families.
$45Late stage
Sequoia, Oak HC/FT, Spring Mountain Capital, Female Founders Fund, Harmony Partners
10Data management solution for health plans to offer members personalized care experiences.
$35 Late stage
Blue Venture Fund, CRV, .406 Ventures, Horizon Healthcare Services Inc., Echo Health Ventures
10
No. Company Description Funding (M) Stage Select Investors
11Virtual care companion that provides a personalized, connected care experience.
$33Late stage
Health Catalyst Capital, Horizon BlueCross BlueShield of New Jersey, Goodwater Capital, New Enterprise Associates, Lux Capital
12Fertility, gynecology, and family-building services at Kindbody and partner clinics.
$32Late stage
Perceptive Advisors, RRE, GV, Freemark Capital, Rock Springs Capital, Goodgrower
13At-home healthcare specializing in men's medicine.
$30Early stage
Tiger Global, Declaration Capital, Carlyle Group, Redesign Health
13
Technology and clinical services organization supporting caregivers and patients, focusing on high-need, frail senior populations.
$30Early stage
Oak HC/FT, Deerfield Management, Lux Capital, Kaiser Permanente Ventures Generator Ventures
15Digital health platform that treats range of disorders including back pain and COPD.
$26Late stage
Optum Ventures, Idinvest, capital300, Balderton Capital, Heartcore Capital, Symphony Ventures
16Delivers free health technology for K-12 public schools.
$25Early stage
Digitalis Ventures, 7Wire Ventures
16Computational pathology products designed to produce faster, more informed treatment decisions.
$25Late stage
Goldman Sachs Merchant Banking Division, Healthcare Venture Partners
18Integrative female healthcare online & offline.
$24Early stage
Threshold Ventures, ACME Capital, Define Ventures, Homebrew
19Clinical analytics company helping providers reduce misdiagnoses and improve patient outcomes.
$24Late stage
Insight Partners, Prism Ventures
20Products for health insurance carriers to provide breakthrough consumer experience to their members.
$23Late stage
Vertical Venture Partners, Health Velocity Capital, Healthworx, Horizon Healthcare Services
11
18%
11
NYC HEALTHCARE LEADERS expect the pandemic to last through much of next year — straining mental health, elective medical care, and insurance access — while setting the stage for a rise in home-based care, provider consolidation, and social determinants of health investment.
When do you expect business operations to feel relatively normal again?
Beyond telemedicine/digital transformation, which of these long-standing healthcare trends will now accelerate most throughout NYC?
Which of the following downstream effects of the pandemic will most impact patients in NYC?
8%
9%
17%
49%
10%
12%
39%
40%
5%
22%
32%
40%
2%
6-12 months
12-24 months
3-6 months
Less than 3 months
0 5 10 15 20 25 30 35 40
Home-based care
Prioritization of social determinants of health
Provider consolidation
Value-based payment models
Healthcare data interoperability
0 10 20 30 40 50
Mental health
Delayed preventive or specialty care
Loss of Insurance
Food insecurity
Other
0 5 10 15 20 25 30 35 40
COVID-19 TRENDS
12
What new healthcare trends are we likely to see in 2021?
MILIND PARATE Vice President, Corporate Development, Northwell Ventures
Increasing emphasis on SDOH and delivery of care, however it is manifested (e.g., telehealth, telemedicine, RPM).
BRONWYN SPIRA CEO & Founder, Force Therapeutics
The pandemic has made remote care the new norm, so we’ll continue to see innovation there. Even when things open up, there will be many situations where it still makes sense to treat patients at home.
DR. JEFF WESSLER
CEO, Heartbeat Health
Transition from ‘telemedicine’ to ‘virtual care.’ The value of telemedicine alone will diminish, and the need for value-add features that progress care will grow.
RANDY CHEUNGCEO, CipherHealth
We’ll see a much wider swath of hospital purchases going through CFO.
MICHAEL GREELEY
General Partner, Flare Capital Partners
Dramatic consolidation among providers and with greater market share should drive further momentum to value-based care.
ALY LOVETT Partner, Radian Capital
Accelerated adoption of technologies that address “less sexy” yet critical areas of healthcare like supply chain, workforce management, and payer/provider workflows.
SANDER DUNCAN
General Partner, Lifeforce Capital
Unbundling the hospital has been happening slowly and in piece-meal fashion. It will accelerate through 2021 as hospitals seek to reduce overhead and companies (both incumbents and start-ups) offer new out-of-hospital care models and platforms.
1313
AMIDST UNPRECEDENTED CHANGES and challenges in 2020, NYC healthcare leaders are re-orienting their employee engagement initiatives and sales strategies, while hoping for extension of the temporary telemedicine reimbursement and interstate licensing policies.
Which of these temporary healthcare policy changes would you most like to see extended permanently?
Beyond Stay-at-Home, what has been your biggest business challenge thus far in 2020?
Telemedicine Reimbursement
Interstate Licensing
Telemedicine HIPAA Waiver
NP/PA Scope of Practice Expansion
Malpractice Immunity
Employee well-being and engagement
Sales/BD
Funding
Operational costs
Hiring/Talent
13
32%
55%
3%
5%
5%
0 10 20 30 40 6050
7%
9%
39%
42%
4%
0 10 20 30 40 50
NECESSITY IS THE MOTHER OF INVENTION
DR. JEFFREY DE FLAVIO Founder, Groups; EIR, AlleyCorp
Clinical digital-physical hybrids are here to stay. It’s how we should have been practicing for the past 10 years.
14
What’s a change you made that will continue beyond COVID-19?
A. J. LOIACONO CEO, Capital Rx
Our company started the Dr. James McCune Smith scholarship with Howard University. Born into slavery and freed with the New York Emancipation Law of 1821, Dr. Smith achieved a doctorate in medicine and opened the first Black-owned pharmacy in America. It is our goal to support talented, future pharmacists and honor Dr. Smith’s enduring legacy.
DR. ALEXI NAZEM CEO, Nomad Health
We’ll rely more on remote work to increase flexibility and productivity and to source talent from a broader geographic pool. We are also increasingly automating processes with technology to eliminate headcount needs. We want people doing that which only people can do.
DR. MELYNDA BARNESSVP Medical Affairs and Research, Ro
After the shift to remote work, Ro thoughtfully launched new initiatives and benefits to support employees’ mental and physical wellbeing, foster an effective, collaborative remote work environment, and maintain the personal connections that make it a great place to work.
NIYUM GANDHI Chief Population Health Officer, Mount Sinai Health System
We are reorganizing the operating model and the way our teams work to be more nimble and efficient.
PAYAL DIVAKARAN Partner, .406 Ventures
We’re placing a concerted focus on the social and mental well-being of our portfolio companies and our own team, with new practices like daily team video check-ins.
ALESSANDRA HENDERSON Co-founder & CEO, Elektra Health
Consumer sentiment towards virtual engagement accelerated our online programming and product development. We’re seeing a seismic shift in the number of women seeking digital solutions to engage, learn and connect around health & wellness topics.
151515
6%
6%
NYC’S WEALTH OF TALENT, diversity, and resources remain a compelling advantage to NYC-based companies with two startups in particular — Capsule and Oscar — eyed as most likely to exit next year.
How does being a NYC-based company positively impact your business strategy over the next 12 months?
Which NYC health-tech startup do you anticipate going public or being acquired next year in 2021?
Access to a deeper talent pool
Ease of remote work options
Ability to prioritize diversity
Greater access to funding and resources
0 10 20 30 40 50
24%
28%
29%
44%
7%
12%
13%
28%
29%
0 10 15 20 25 305
Other
NEW YORK STATE OF MIND
DR. AARTI RAVIKUMAR Interim Chief Medical Information Officer, Atlantic Health System
The resilience we saw from healthcare and frontline workers: working tirelessly despite the health risks, poor insight into COVID-19 infection transmission and limited PPE. It still brings me to tears.
What about the NYC healthcare ecosystem makes you hopeful as we move forward?
16
HOLLY WHITAKER CEO, Tempest
Conversations about race, systematic oppression, and disparities in care have moved from the margins to the mainstream. Social barriers are no longer seen as outlying or fringe, but as fundamental.
ANDREW WILLIS CFO, Crossix
We’re seeing relevant care, clinical trials, vaccines, software, data and analytics all emerge from the NYC healthcare ecosystem making us more optimistic about getting through these challenges.
LESLIE HENSHAWPartner, Deerfield Management
Leading academic medical centers will be forced to rethink their care delivery models and will spark innovation in doing so. Together with what we’re building at Cure, we think NYC will be at the forefront of driving inventive solutions.
SAMIR MALIK EVP, Genoa Telepsychiatry
I’m inspired by the growing talent pool of exceptional folks excited about making a difference in healthcare.
JON STOUTSVP of Enterprise Growth, AbleTo
Our grit and tenacity make us uniquely positioned to succeed during these insanely difficult times.
RON VIANU CEO, Covera Health
NYC’s healthcare ecosystem has demonstrated real collaboration and partnership, something that is palpable in every interaction with all stakeholders.
PATRICK PILCHNational Healthcare Leader, BDO
In this time of separation from normal, the disconnection from human interaction creates an even greater need to reconnect.
17
What are your greatest learnings from COVID-19?
DR. JULIAN HARRISPartner, Deerfield Management
The impact of health care disparities on mortality in communities of color can accelerate with devastating consequences in pandemics and other major social disruptions.
NANCY BROWNGeneral Partner, Oak HC/FT
It reinforced that leadership is everything: resilient, thoughtful, humble leaders.
DAVID PUTRINO Director of Rehabilitation Innovation, Mount Sinai Health System
In a crisis, organizations and individuals that are mission-oriented prevail. Compliance oriented individuals fail.
TAYLOR JUSTICECo-founder & President, Unite Us
The lack of public health infrastructure is apparent, and the second and third-order impacts of the pandemic will place unprecedented stress on our human and social service systems. States must invest in these support structures.
BYRON LING Partner, Canaan
As tumultuous as times like these are, it’s a wonderful sandbox for founders to prove their resourcefulness and tenacity.
Q How has the pandemic impacted your clients and what lasting changes do you
think it will bring to the industry?
A It’s been a challenging time that has forced everyone to adapt business models rapidly, but
has also accelerated some macro trends that were already in motion. Take telemedicine, which had been popular with consumers but slower to catch on with providers and payers; it has seen widespread adoption as declining patient volumes in Q2 forced providers and payers to pivot quickly to embrace virtual patient visits. And while remote visits won’t work for every practice or specialty, we expect a hybrid in-person/virtual model to become the norm. We’ve also seen an increasing shift towards home care, particularly for the senior population most at risk in care facilities during this pandemic. Telemedicine and remote monitoring technology will play a big role in enabling the trend toward home care going forward.
Q What specific themes are you seeing in the healthcare IT space for companies
that are raising money?
A Many of our healthcare IT companies are raising money to address opportunities and needs around
the growing “consumerism” of healthcare. Providers and payers have not traditionally thought of patients as consumers with influence and buying power, at least not in the way retailers have. We see increased funding going
to companies that focus on improving the interaction between consumers and healthcare providers, including streamlining billing and collections, improving and simplifying access to care, and providing technology that tracks personal health data, including chronic conditions. We see more providers and payers tracking statistics like net promoter scores (NPS) to measure customer satisfaction. There’s a general recognition that putting more data in patients’ hands creates better, more frequent healthcare engagement, which in turn leads
to lower costs and better outcomes for all.
Q What changes are you seeing as a result of our virtual
working environment?
A Our virtual work environment is propelling big changes in healthcare
payments. With reduced staff on-site, many of our clients are taking a fresh look at electronic billing and collection methods over traditional paper processes that slow payments, tie up administrative time and increase fraud
risk through circulation of paper checks. Managing cash and preserving liquidity is now paramount to businesses in these times of turmoil and disruption, and many of our clients are using this opportunity to re-examine existing processes, improve back office efficiency and accelerate cash flow.
CHRIS LLOYD is Managing Director, Healthcare and Life Sciences at J. P. Morgan’s commercial banking group. He leads an experienced team serving innovative healthcare companies from VC-backed startups to established leaders. In a recent conversation with Bunny Ellerin, Chris discusses how COVID-19 has accelerated innovation throughout the healthcare industry.
Q&A WITH OUR PARTNER
“We see increased funding going to companies that focus on improving the interaction between consumers and healthcare providers.”
Achievement Through Athletics
ACLU
Ad Council
AHA
Alzheimer’s Association
Appolition
Association to Benefit Children
Bedsider
Black Futures Lab
Black Girls Code
Black Lives Matters
Black Women’s Health Imperative
Bowery Mission
Brooklyn Community Bail Fund
Brooklyn Movement Center
Central Park Conservancy
Children of Bellevue
City Harvest
Citymeals on Wheels
Color of Change
Communities United for Bail Reform
Covenant House
Crown Heights Mutual Aid
CUNY School of Public Health
Cycle for Survival
Doctors Without Borders
East Harlem Asthma Center
Emergency Release Fund
Equal Justice Initiative
Feed the Frontlines NYC
Feeding America
Food Bank of NYC
Foundation for Louisiana
Fund for Public Health NYC
Glamour Gals
Good Shepherd Services
Gulf Coast Center for Law & Policy
Home+Community+Spirit
In God’s Love We Deliver
JASA
Justice for Breonna Taylor
Knights & Orchids
Know Your Rights Camp
Loveland Foundation
Lyfebulb
Mississippi Bail Fund Collective
Montgomery Bail Out
Mutual Aid NYC
NAACP
Naomi Berrie Diabetes Center
National Association of Dentists
National Health Law Program
National Institute for Reproductive Health
New York Cares
New York Food Bank
NYC COVID Rapid Response Coalition
NYC Health + Hospitals
OffTheirPlate
Okra Fund for Transgender Inequality
Our Children
Planned Parenthood
Prep for Prep
Public Health Solutions
Red Hook Initiative
Sanctuary for Families
Save The Children Federation
Showing Up for Racial Justice
Social Creatures
Society for the Prevention of Teen Suicide
S.O.U.L Sisters Leadership Collective
STEAMpark
Street Vendor Project
Sunset Spark
Surgeons of Hope
SURJ
Tech:NYC
The Bail Project
The Liberty Fund
Trevor Project
Until Freedom
VOCAL-NY
We The Protesters
The Healthcare Business Community Cares
We are proud to see the generosity of so many in our community. These are charities to which companies or individuals have contributed during 2020.
19
20
SURVEY METHODOLOGY
We fielded the online survey from June 29, 2020 – July 31, 2020 and invited 325 entrepreneurs, investors, clinicians, professionals and other key stakeholders with direct experience in the New York digital health market to participate. We received 104 unique survey responses.
DATA SOURCES
Data used in the creation of this report were obtained from multiple sources and covered the period from 01/01/2020 to 7/31/2020. A company was included if it (1) listed New York City as its corporate headquarters and (2) the company received seed, angel, early-stage or late-stage funding during the period 01/01/2020 to 7/31/2020. Deal date was used to determine placement in 2020. Companies that won grant funding, prize money or acceptance into accelerators/incubators were not included in the analysis.
DISCLAIMER
This report is provided for informational purposes only. Where possible, we verified information obtained through publicly available sources (e.g. company press releases, news reports). If you find an error in the report, please contact us at [email protected] so that we can correct it.
Dr. Brenton Fargnoli Dr. Brenton Fargnoli is a partner at AlleyCorp and a practicing physician.
Bunny EllerinBunny Ellerin is the director of the Healthcare Management Program at Columbia Business School. She is also president of NYC Health Business Leaders.
Sherman Leung Sherman Leung is a student at Mt. Sinai’s Icahn School of Medicine and AlleyCorp associate.
THE TEAM
NYC Health Business Leaders is a professional community of 4,000 senior executives who are leading, innovating and driving healthcare forward.
For more information visit www.nychbl.com or follow us @nychbl.
THANK YOU to J.P. Morgan for their partnership
AlleyCorp is an early stage venture fund and incubator that founds and funds transformative companies in New York.