A report from the Medical Alley Association says that Minnesota health startups have raised more than $1 billion in the first three quarters of the year. (In 2019, it took an entire year to hit that mark.) So far, 58 Medical Alley startups have raised $1.02 billion, with digital health leading the way ($658.6 million) and medical device companies coming along next ($315 million).
Big moneymakers include insurance startup Bright Health, which recently announced it had raised a $500 million Series E fundraising round, and Preventice Solutions, which makes remote heart monitoring devices. Preventice raised a $137 million Series B in July.