Carrum Health Named to the 2021 CB Insights Digital Health 150
December 8, 2021
Carrum’s Centers of Excellence Platform recognized among an elite group of innovative digital health startups
SAN FRANCISCO – December 8, 2021 –Carrum Health, the first digital health company connecting employers and employees to Centers of Excellence (COEs) through a technology-powered platform, today announced that it was named to the 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. Carrum Health was recognized for its achievements in the ranking’s Provider Directories & Care Navigation category.
The 2021 Digital Health 150 cohort has raised roughly $14.9 billion 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 virtual/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, senior vice president 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.”
“Carrum is changing the way healthcare is delivered and paid for and we’re doing that with a technology-first approach that improves both health quality outcomes and the patient experience,” said Sach Jain, CEO and founder of Carrum Health. “Many employers don’t understand just how big a problem surgical care is to their bottom line and employees’ well-being. Carrum is realigning the incentives to avoid unnecessary surgeries and make them more affordable.”
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.
CB Insights recognized Carrum’s leadership in bringing digital transformation to surgical care. Carrum’s network of Centers of Excellence is built upon a plug-and-play technology platform that integrates data science and machine learning to ensure surgery is necessary, and then guarantees the highest quality of care. This approach improves health outcomes for patients and can reduce employers’ contributions to employee healthcare by more than 45%, according to a recent RAND report. With an industry-first 30-day warranty on care and a strong focus on clinical quality, Carrum Health evaluates both the COE and the surgeon with a proprietary 50-point evaluation process, ensuring only the top 10% of providers are invited to join the platform.
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.
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About Carrum Health
Carrum Health was founded in 2014 with a mission to “bring common sense to healthcare” through a value-based healthcare model that benefits families, employers and providers. Headquartered in South San Francisco, Carrum’s award-winning surgery benefits platform connects self-insured employers with top providers under standardized bundled payment arrangements to better manage healthcare costs. By aligning provider incentives with quality performance, Carrum drives improvements in patient experience and health outcomes. Customers include Fortune 500 companies and public sector organizations. For more information, visit carrumhealth.com.
Carrum Health Media Contact:
Cogenta Communications, for Carrum Health