PitchBook News - Remote care drives VCs to healthtech

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The Daily Pitch: VC

October 19, 2020

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Today's Top Stories

Shift to remote care pushes healthtech funding to new heights

(Yoshiyoshi Hirokawa/Getty Images)

Startups that give patients remote-healthcare access are riding a wave of healthtech investment in 2020. VC investors in the US and Europe injected $10 billion into healthtech companies in the first three quarters of the year, according to Silicon Valley Bank.

The interest has ignited a string of mega-rounds for startups that could energize fields like medication management and remote patient monitoring:

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Quick Takes


	The Daily Benchmark
	2014 Vintage Global Venture Funds
	VC Deals
	Sonrai secures Series B
	Humanoid robotics startup raises $20M
	Fundraising
	Menlo Ventures unveils latest $500M fund

The Daily Benchmark

2014 Vintage Global Venture Funds

Median IRR

17.70%

Top Quartile IRR Hurdle Rate

24.10%

1.73x

Median TVPI

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Column Group II

Earlybird Digital East Fund

DCM VII

*IRR: net of fees

45 Funds in Benchmark »

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VC Deals

Sonrai secures Series B

Sonrai Security has raised $20 million in Series B funding led by Menlo Ventures, with participation from existing investors Polaris Partners and Ten Eleven Ventures. The new round brings the cloud security startup's total VC funding to more $38 million. New York-based Sonrai was valued at $53.5 million with its Series A in 2019, according to PitchBook data.

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Humanoid robotics startup raises $20M

Agility Robotics has closed a $20 million round co-led by DCVC and Playground Global. The Oregon-based maker of legged, walking robots plans to use the funds to meet growing automation demand from ecommerce retailers, logistics providers and others. DCVC co-founder and co-managing partner Matt Ocko will join Agility's board. Agility was valued at $25 million in 2018, according to PitchBook data.

Additional investors:

Industrial Technology Investment, MFV Partners, Safar Partners, Sony Innovation Fund, TDK Ventures

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Fundraising

Menlo Ventures unveils latest $500M fund

Menlo Ventures has launched its 15th fund, a $500 million vehicle that will focus on seed and Series A investments in consumer, enterprise, frontier tech, and healthcare companies. The Menlo Park-based firm also plans to keep its eye on other areas of interest, including cybersecurity, AI and fintech. Menlo closed its most recent flagship fund on $450 million in 2017.

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