Which RPM startups raised capital?

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Remote Patient Monitoring startups have attracted nearly $1 billion in funding across 2024 and the first half of 2025, driven by breakthrough AI technologies and corporate healthcare investments.

The largest funding rounds went to AI-driven chronic care platforms, with Biofourmis securing $463.6 million and Forward Health raising $325 million, while investors ranging from specialized health-tech VCs to healthcare giants like Philips and Labcorp are backing innovations in wearable devices, smartphone biomarker tracking, and predictive analytics.

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Which RPM startups raised the most capital in 2024 and 2025?

Eight major RPM startups secured significant funding rounds totaling $971 million in disclosed capital from 2024 through mid-2025.

Biofourmis leads with $463.6 million in undisclosed rounds backed by Philips Healthcare and Nordic Capital, focusing on AI-driven personalized health monitoring platforms. Forward Health follows with $325 million for their intelligent remote clinics featuring integrated biometrics and predictive scoring systems.

Solace raised $60 million in Series B funding from Menlo Ventures for their care-coordination platform emphasizing patient advocacy workflows. CoachCare secured $48 million in growth investment from Integrity Growth Partners in June 2024 for virtual care management combining connected devices with care-team services.

Smaller but notable rounds include Sibel Health's $30 million Series C for continuous vital sign monitoring via wearable patches, HealthSnap's $25 million Series B from Sands Capital for cellular-enabled RPM devices, and Percipio Health's $16 million Series A from UPMC Enterprises and Labcorp for smartphone-camera biomarker tracking.

Tenovi completed the funding landscape with a $4.2 million Series A from Prophetic Capital Partners for their cellular gateway platform integrating multiple FDA-cleared RPM devices.

Which investors are providing the most capital to RPM startups?

Corporate strategic investors and specialized health-tech VCs dominate RPM funding, with healthcare giants increasingly taking lead positions in major rounds.

Philips Healthcare and Nordic Capital co-led Biofourmis's massive funding round, leveraging their combined portfolio to accelerate device-AI integration across European and American markets. This strategic partnership reflects the trend of medical device manufacturers directly investing in software platforms that complement their hardware offerings.

Healthcare system investors UPMC Enterprises and diagnostic giant Labcorp anchored Percipio Health's Series A, signaling strong payer-provider interest in smartphone-based RPM solutions that reduce deployment costs. Their involvement demonstrates how traditional healthcare players are backing technologies that could streamline their existing operations.

Growth-focused VCs include Sands Capital backing HealthSnap's cellular device expansion, Menlo Ventures leading Solace's care-coordination platform, and Integrity Growth Partners financing CoachCare's virtual care management scaling. Prophetic Capital Partners represents the private equity interest in RPM platform infrastructure through their Tenovi investment.

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What RPM technologies are attracting the most investment?

AI-driven analytics platforms for chronic disease prediction dominate funding, followed by cellular-enabled devices and smartphone biomarker tracking innovations.

Personalized risk-scoring engines represent the largest investment category, with startups developing machine learning models that predict decompensation in chronic illnesses like heart failure and COPD from continuous vitals streams. These platforms integrate data from multiple wearable devices to provide early warning systems for healthcare providers.

Cellular-only devices eliminate patient dependency on smartphones or Wi-Fi connectivity, addressing a critical adoption barrier in rural and elderly populations. These plug-and-play sensors automatically transmit data to cloud platforms, increasing deployment success rates and reducing technical support requirements for healthcare providers.

Smartphone biomarker tracking represents an emerging category where camera-based technology measures blood pressure, oxygen saturation, and vocal biomarkers for neurological assessment. This approach eliminates dedicated hardware costs while enabling widespread screening programs through existing consumer devices.

Wearable continuous monitoring systems using lightweight adhesive patches capture multiparameter data including ECG, respiratory rate, and activity levels, feeding cloud-based machine learning models for real-time health alerts and trend analysis.

Which regions are capturing the most RPM startup funding?

The United States dominates RPM startup funding with approximately $920 million of the total $971 million disclosed, representing 95% of global investment activity.

What business models are these funded RPM startups using?

Four distinct business models dominate the funded RPM startup landscape, each optimized for different market segments and deployment scenarios.

SaaS plus device bundle models charge healthcare providers monthly subscription fees covering software platforms, analytics engines, and device provisioning. Biofourmis and HealthSnap exemplify this approach, offering comprehensive packages that simplify procurement and ensure compatibility between hardware and software components.

Platform-as-a-Service (PaaS) models provide white-label cellular gateway infrastructure supporting third-party device fleets. Tenovi operates this model, allowing healthcare organizations to integrate multiple FDA-cleared RPM devices through a single connectivity platform, reducing technical complexity and vendor management overhead.

Smartphone-only RPM eliminates dedicated hardware costs through app-based biomarker capture. Percipio Health pioneered this approach with camera-based vital sign measurement, enabling rapid scaling without device logistics and appealing to cost-conscious healthcare buyers seeking population health screening capabilities.

Care team augmentation models blend clinical services with technology platforms, offering nursing oversight and alert management as premium add-ons to basic device fees. CoachCare and Solace operate variations of this model, targeting healthcare providers who lack internal capacity for RPM program management.

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Who are the key founders behind these funded RPM startups?

RPM startup founders combine deep clinical expertise, healthcare technology experience, and previous successful exits in digital health ventures.

Dr. Kuldeep Singh Rajput leads Biofourmis as CEO alongside co-founder Kuldeep Sengupta, both bringing pharmaceutical R&D leadership experience from GSK. Their clinical drug development background provides unique insights into regulatory pathways and evidence generation requirements for healthcare AI platforms.

Todd Pletcher co-founded and leads Forward Health as CEO, leveraging his previous experience building Smart Health Connect, a healthcare technology platform that demonstrated scalable patient engagement models. His track record in healthcare technology commercialization attracted significant investor confidence.

Emily O'Brien serves as CEO of Solace, bringing patient advocacy startup leadership experience that shaped the company's focus on care coordination workflows. Her background in healthcare navigation services provided domain expertise in addressing patient experience gaps in traditional RPM programs.

Chris Spiegelman founded CoachCare after serving as a McKinsey healthcare consultant, where he identified opportunities to transform internal RPM technologies into vendor platforms. His consulting background enabled rapid business model validation and go-to-market strategy development.

Eric Rock and David Lucas co-founded Percipio Health as alumni of Vivify Health, which Optum acquired in 2019 for its RPM platform capabilities. Their previous exit experience and relationships in the healthcare technology ecosystem facilitated strategic investor introductions and accelerated funding processes.

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What funding terms and valuations are typical for RPM startups?

RPM startup funding follows predictable stage-based patterns with valuations reflecting revenue multiples between 8-12x ARR for established platforms.

Series A rounds typically range from $4 million to $25 million for startups transitioning from pre-revenue to early commercial phases. Lead investors combine strategic corporate backing with growth-focused VC firms, often requiring board seats and milestone-based governance rights aligned with commercial achievements.

Series B and C rounds span $30 million to $463 million for companies demonstrating product-market fit through proven device deployment and platform adoption metrics. These larger rounds command valuation multiples of 8-12x annual recurring revenue, with premium valuations for AI-enabled platforms showing predictive analytics capabilities.

Deal structures increasingly favor milestone-based funding tranches tied to regulatory approvals, customer acquisition targets, and revenue growth milestones. Anti-dilution provisions protect strategic backers who provide distribution partnerships and market access beyond capital.

Equity structures blend traditional VC investment with strategic corporate participation, where healthcare giants like Philips and Labcorp secure preferential licensing terms and integration partnerships alongside their equity stakes. These hybrid arrangements accelerate commercial deployment while providing strategic investors with technology access rights.

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Which RPM sectors are receiving the most capital?

Chronic disease monitoring dominates RPM funding with $550 million invested, followed by virtual care management platforms and emerging smartphone biomarker technologies.

What were the total funding amounts for RPM startups in 2024-2025?

RPM startups raised approximately $971 million in disclosed funding from January 2024 through June 2025, representing a significant concentration of capital in AI-driven healthcare monitoring solutions.

The funding distribution shows extreme concentration among the top four startups, which captured over 90% of total disclosed investment. Biofourmis alone secured $463.6 million, representing 47.7% of all RPM startup funding during this period, while Forward Health's $325 million contributed an additional 33.5%.

Monthly funding patterns reveal peak investment activity in Q1 2025, when several major rounds closed simultaneously as investors rushed to secure positions in proven AI-powered chronic care platforms. The average funding round size reached $121 million across the eight major deals, significantly higher than typical health-tech startup averages.

Geographic distribution heavily favors U.S.-based startups, which secured $920 million or 95% of total funding, with European startups capturing $45 million and Asian markets receiving minimal disclosed investment. This concentration reflects the maturity of U.S. healthcare reimbursement systems for RPM services and stronger regulatory clarity for digital health technologies.

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Which corporate giants are backing RPM startups strategically?

Healthcare incumbents and technology giants are increasingly taking strategic positions in RPM startups to secure access to next-generation monitoring technologies and patient data platforms.

Philips Healthcare represents the most significant corporate strategic investor, co-leading Biofourmis's massive funding round alongside Nordic Capital. This investment aligns with Philips's broader strategy to integrate AI-powered software platforms with their existing medical device portfolio, creating comprehensive remote monitoring ecosystems for hospital systems.

Healthcare system operators UPMC Enterprises and diagnostic leader Labcorp jointly invested in Percipio Health's smartphone biomarker platform, recognizing the potential to reduce RPM deployment costs while expanding screening capabilities. Their strategic involvement provides Percipio with direct access to patient populations and clinical validation pathways.

Technology infrastructure plays a critical role, with corporate investors focusing on cellular connectivity and data integration platforms. These strategic relationships often include preferential licensing terms, joint go-to-market partnerships, and technology integration commitments that extend beyond pure financial investment.

Insurance and pharmaceutical companies increasingly participate in RPM funding rounds through corporate venture arms, seeking to influence technology development toward value-based care models and chronic disease management applications that align with their business objectives.

What are the 2026 projections for RPM startup funding?

Industry analysts project RPM startup funding will exceed $1.2 billion in disclosed deals during 2026, driven by continued corporate strategic investment and emerging technologies in smartphone-based monitoring.

The U.S. RPM market valuation of $12.76 billion in 2024 is projected to reach $32.17 billion by 2032, representing a 12.3% compound annual growth rate that supports continued venture investment activity. This market expansion creates opportunities for both early-stage startups and growth-stage companies seeking expansion capital.

Strategic merger and acquisition activity is expected to accelerate among device manufacturers and platform vendors, with corporate acquirers seeking to consolidate fragmented technology stacks. This M&A environment may drive up startup valuations while creating liquidity events for early investors.

Smartphone-only RPM platforms represent the highest-growth funding category for 2026, as healthcare buyers increasingly favor solutions that eliminate device logistics and reduce per-patient deployment costs. This shift toward hardware-free monitoring is expected to attract significant venture capital interest.

Integration with value-based care programs and hospital-at-home initiatives will drive corporate venture investment from insurance companies and healthcare systems seeking technology partnerships that support alternative payment models and remote care delivery expansion.

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Conclusion

Sources

1. Monexa AI - RPM International Analysis
2. Digital Health Wire - CoachCare Growth Capital
3. HealthSnap - Top RPM Companies 2024
4. Digital Health News - Percipio Health Funding
5. Tenovi - Series A Funding Announcement
6. SNS Insider - RPM Market Forecast
7. Quick Market Pitch - RPM Investors Analysis
8. 1BiosHealth - RPM Payment Rates 2025