The venture capital community is still waking up to the vast opportunity in the emerging field called digital health. That was the clear takeaway from a panel discussion hosted by KPCB earlier this year at the firm’s offices in San Francisco. Moderated by general partner Beth Seidenberg, the panel included Halle Tecco, CEO and Co-Founder of Rock Health, a digital health incubator; Ryan Howard, the CEO and Founder of health-care IT company Practice Fusion; and Mike Lee, CEO and Co-Founder of MyFitnessPal.
In setting up the panel Seidenberg noted that venture funding in the digital health space has spiked in the last several years, with $1.9 billion invested in 2013 alone, spread over 195 different deals. But the panelists asserted that the opportunity has barely been tapped. “It’s just getting started,” said Lee, the co-founder of MyFitnessPal with his brother that now sports 40 million users tracking their physical fitness. “We’re just getting started on what’s possible.
Howard likewise asserted that “massive opportunity” remains, with no defacto apps or brands in the sector. The playing field, he says, is “wide open.”