The news: Home-based care company Tomorrow Health (founded by a former Oscar Health exec) raised $60 million in its Series B round.
What it does: Tomorrow Health makes home care more accessible for chronic disease patients transitioning out of the hospital.
The startup nabbed 125 partnerships with health plans and health systems.
Zooming out on health tech funding: While Tomorrow Health’s total funding just hit $93 million, digital health funding slowed down in Q1. We expect to see less funding dollars flow into digital health startups—and, in turn, more scaling down—amid economic volatility.
Investors likely became more cautious in Q1 due to inflation and geopolitical tensions. And health tech entrants are reshuffling their organizations to focus less on scaling. In fact, digital health startups like Carbon Health and Cue Health already laid off hundreds of employees amid economic uncertainty and shifting business priorities away from COVID-19.
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