The report highlights the increasing venture capital investments in the digital health sector targeting the 50+ demographic, which represents a significant market opportunity due to their substantial spending power and growing medical needs. Investments in this sector have risen dramatically, with funding growing from $1.05 billion in 2010 to $2.79 billion by 2013, particularly in areas such as vital sign monitoring and care navigation. The report also notes that funding relevant to the 50+ market constitutes over half of all digital health investments, indicating a robust interest from investors in this demographic.

1. The Top 12 Venture Capital
Firms Funding the 50+ Market
A REPORT SPONSORED BY
Published: May 7, 2014 A StartUp Health Insights Report. Comprehensive funding data available at startuphealth.com/insights

2. Published: May 7, 2014 A StartUp Health Insights Report. Comprehensive funding data available at startuphealth.com/insights
New digital health apps and wearable devices for the young get the lion's share of media
attention. But entrepreneurs and investors investing with the 50+ market in mind are focusing
on a big — and growing — opportunity.
!
Baby Boomers make up 44% of the US population and more than 10,000 enter the 50+
demographic daily. Collectively, they spend $3.5 trillion a year. By 2018, breakthrough
technologies, innovative services and disruptive business models will benefit more than 100
million people 50+ and represent $20 billion in revenue in the US alone.
!
In December, StartUp Health and AARP released the first-ever digital health insights funding
report evaluating the 50+ market, highlighting the encouraging rise of health innovation among
a growing population with increased medical needs. This report takes a closer look at the top
venture capitalists making investments that impact the 50+ population and the hottest areas of
investment. Already, some of the country's top venture capitalists are making big investments in
companies relevant to the 50+ market. And our data indicates that the trend may just be
beginning. Take a look!
Source: Health Innovation Frontiers Report downloadable at www.aarp.org/50plusinsights
Background
2

3. A StartUp Health Insights Report. Comprehensive funding data available at startuphealth.com/insightsPublished: May 7, 2014
$0B
$1B
$1B
$2B
$3B
0
150
300
450
600
2010 2011 2012 2013
Total Deal Count Total Funding
$2.79B$2.22B$1.51B$1.05B
527
395
219
128128
219
395
527
Since 2010, digital health and wellness investment has
grown from $1.05B to $2.79B in 2013
Deal count more than quadrupled from 128 to 527
3

4. A StartUp Health Insights Report. Comprehensive funding data available at startuphealth.com/insightsPublished: May 7, 2014
$1.6B
$453M
$440M
$888M
$128M
$159M
$222M
$143M
$109M
$177M
San Francisco Bay Area and the Northeast lead digital health
funding activity with more than 41% of total funding from 2010-2013
$113M
4

5. A StartUp Health Insights Report. Comprehensive funding data available at startuphealth.com/insightsPublished: May 7, 2014
Though the number of software-only digital health companies more
than quadrupled, funding in devices and wearables grew 102% from
2012 to 2013, accounting for 32% of all digital health investment
$0.0B
$0.5B
$1.0B
$1.5B
$2.0B
2010 2011 2012 2013
$1.9
$1.8
$1.2
$0.5
$0.9
$0.4
$0.3
$0.5
Devices and Wearables Software Only
125
250
375
500
2010 2011 2012 2013
39 48
104
122
Devices and Wearables Software Only
Number of Digital Health Startups* Total Digital Health Funding*
5*Due to market overlap, some values are subject to double counting
405
291
171
89

6. A StartUp Health Insights Report. Comprehensive funding data available at startuphealth.com/insightsPublished: May 7, 2014
Social
Engagement
Physical
Fitness
Medication
Management
Aging with
Vitality
Navigating
The Healthcare
System
Vtial Sign
Monintoring
Behavioral and
Emotional Health
Diet and
Nutrition
Emergency Detection
and Response
Traditional 50+ Market
50+ referred only to
the aging market
Opportunities
in the
50+ Market
New Focus of the
50+ Market
Preventative medicine is a growing focus among the 50+
market, leading to increased opportunity across the nine
areas of digital health and wellness innovation
6
Vital Sign
Monitoring

7. A StartUp Health Insights Report. Comprehensive funding data available at startuphealth.com/insightsPublished: May 7, 2014
$0B
$0B
$1B
$1B
$2B
0
100
200
300
400
2010 2011 2012 2013
Total Deal Count Total Funding
$1.48B$0.93B$0.77B$0.56B
Funding in companies relevant to the 50+ market rose 59%
from $0.93B in 2012 to $1.48B in 2013 and represents 53%
of all digital health investment dollars
7
67
130
249
311

8. A StartUp Health Insights Report. Comprehensive funding data available at startuphealth.com/insightsPublished: May 7, 2014
Investments related to the 50+ market continue to grow at
the pace of investments in the larger digital health and
wellness market
50+ market investments as percentage of total investments in digital health & wellness
2010 2011 2012 2013
40%
55%
70%
2010 2011 2012 2013
53% 51%
42%
53%
52%
59%
63%
59%
Deal Count Funding
TotalFunding
$0.56B
$1.05B
$0.77B
$1.51B
$0.93B
$2.22B
$1.48B
$2.79B
Digital Health & Wellness Market 50+ Market
8

9. A StartUp Health Insights Report. Comprehensive funding data available at startuphealth.com/insightsPublished: May 7, 2014
From 2010 to 2013, the 50+ areas that received the greatest
total amount of VC funding were aging with vitality, vital sign
monitoring and care navigation
Substantial funding in these markets is attributed to an emphasis on preventative medicine,
empowering the patient to own their care and the changing healthcare regulatory
landscape
9
TotalFundingfrom2010-2013
Medical
Management
Diet and
Nutrition
Emergency Detection
and Response
Behavioral and
Emotional Health
Aging With
Vitality
Physical
Fitness
Vital Sign
Monitoring
Care
Navigation
Social
Engagement
$12M
$287M $397M $405M $501M
$1.05B
$1.27B
$1.95B
$2.5B

10. A StartUp Health Insights Report. Comprehensive funding data available at startuphealth.com/insightsPublished: May 7, 2014
103100
75
56
38
252220
3
In the 50+ market, VC firms are mostly interested in vital sign
monitoring, care navigation and social engagement
NumberofVCsInvestinginMarket2010-2013
10
Medical
Management
Diet and
Nutrition
Emergency Detection
and Response
Behavioral and
Emotional Health
Aging With
Vitality
Physical
Fitness
Vital Sign
Monitoring
Care
Navigation
Social
Engagement
Interest in these markets is primarily attributed large market opportunities and clearly-
defined business models

11. A StartUp Health Insights Report. Comprehensive funding data available at startuphealth.com/insightsPublished: May 7, 2014
Top 12 Venture Capital Firms Funding the 50+ Market
11

12. A StartUp Health Insights Report. Comprehensive funding data available at startuphealth.com/insightsPublished: May 7, 2014
Many of the notable deals since 2010 were syndicated
investments among the top VCs
$40M
Series A
$24M
Series B
$23M
Series B
$18.6M
Series C
$15.2M
Series B
$9.3M & $15M
Series C & D
$15M
Series B
$10.8M & $9.3M
Series C & E
12

13. A StartUp Health Insights Report. Comprehensive funding data available at startuphealth.com/insightsPublished: May 7, 2014
Since 2010, physical fitness and care navigation have seen
the most deal action from the top investors funding the
50+ market
Physical
Fitness
Aging with
Vitality
Care
Navigation
Diet and
Nutrition
Vital Signs
Monitoring
Behavioral and
Emotional Health
Emergency Detection
and Response
13

14. A StartUp Health Insights Report. Comprehensive funding data available at startuphealth.com/insightsPublished: May 7, 2014
Most VCs investing in companies relevant to the 50+
market are funding early-stage innovation
FundingbyRoundinthe50+Market
Seed A B C D E
+ + +
+ + + +
+ + +
+ + + + + +
+ + +
+ + + + +
+ + +
+ + +
+ + + +
+ + + + +
+ + +
+ + + +
14

15. A StartUp Health Insights Report. Comprehensive funding data available at startuphealth.com/insightsPublished: May 7, 2014
$2M
Seed
$3.5M
Series A
$2.5M
Series A
$2.25M
Seed
$2M
Seed
$1.55M
Seed
$600k
Seed
$6M
Series A
$4.25M
Seed
$5.7M
Series A
From 2010-2013, half of all deals relevant to the 50+
market were Seed or Series A rounds
15

16. Published: May 7, 2014 A StartUp Health Insights Report. Comprehensive funding data available at startuphealth.com/insights
• Aging with vitality, vital sign monitoring and care navigation received the greatest amount of
digital health VC funding from 2010 to 2013
!
• Physical fitness and care navigation have seen the most deal action (by volume) from the top
investors funding the 50+ market since 2010
!
• Vital sign monitoring, care navigation and social engagement have the greatest number of
interested VCs among the 50+ market opportunities
!
• Funding in companies relevant to the 50+ market represents 53% of all digital health
investment dollars and is growing
!
• Seed or Series A deals comprised half of the deals from 2010-2013 in companies related to the
50+ market
Key Takeaways
16

17. A StartUp Health Insights Report. Comprehensive funding data available at startuphealth.com/insightsPublished: May 7, 2014
Methodologies
The data presented herein is from StartUp Health Insights, which was gathered from public non-grant funding
information from SEC filings, company press releases, CrunchBase, AngelList, and other news sources as of April 14,
2014. The data spans from January 1, 2010 through December 31, 2013.
!
Some of the deals presented in sub-sector analyses may have been subject to double counting because of overlapping
markets. VCs included in the top list comprised those that invested in the most deals within the 50+ market from
2010-2013.
!
The 50+ health investment sector, as defined by AARP, includes all companies that may be relevant to the market, even
if they apply to a larger market as well. It comprises the following market opportunities and some of their respective
needs that are addressed:
Market Opportunity Examples of Needs Addressed
Social Engagement Staying connected socially Keeping mobilized Stimulating intellect
Medication Management Managing multiple medications Preventing in-home accidents Sharpening memory
Emergency Detection & Response Detecting falls Sending alerts when lost Preventing in-home accidents
Behavioral and Emotional Health Stress reduction Receiving divorce/grief support Managing life phase transitions
Physical Fitness Improving muscle strength Age-appropriate exercise Maintaining healthy weight
Diet & Nutrition Eating healthy and portion control Maintaining a healthy weight Reducing bad cholesterol
Navigating the Healthcare System Managing healthcare costs Evaluating quality of care Plan for end of life care
Aging with Vitality Aiding in memory and cognition Improving or aiding vision Improving or aiding hearing
Vital Sign Monitoring Keeping blood pressure in range Detecting skin problems Improving sleep quality
17

18. About
AARP’s vision is to stimulate innovation and entrepreneurship in the
market place around breakthrough products, experiences, and
business models for health technologies benefiting the 50+ market.
Startup Health, a global startup platform to accelerate health and
wellness innovation, represents a new model for helping
entrepreneurs succeed in the health sector. StartUp Health is on a
mission to inspire, educate and provide access for 1,000 digital
health startups to reimagine and transform healthcare by 2020.
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19. The Top 12 Venture Capital
Firms Funding the 50+ Market