

Openverse
The US digital health market exceeded $50B in 2023 and is projected to reach $140B by 2028, driven by consumer demand for telehealth, mental health support, chronic disease management, and employer-sponsored wellness platforms. COVID-19 normalized virtual care and unlocked regulatory flexibility that persists into 2026, while GLP-1 obesity drug demand has turbocharged metabolic health platforms. Key players are building longitudinal health relationships with tens of millions of Americans outside the traditional clinical system, compressing costs while improving access for underserved populations.
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Hims & Hers generated $872M revenue in 2023 growing 65% YoY, serving 1.5M+ subscribers with telehealth and personalized treatment for hair loss, ED, skincare, and mental health. Its GLP-1 weight loss program launched in 2023 drove a surge in new subscribers; the company reached positive adjusted EBITDA ahead of schedule.

Noom generated $400M+ revenue and serves 50M+ users globally with its psychology-based weight loss and diabetes prevention programs delivered via mobile app. Its coaching model combines AI with human psychologists; a 2020 NIH-funded study showed 78% of Noom users maintained clinically significant weight loss at 1 year.

Spring Health reached a $2.5B valuation in 2023 and covers 10M+ lives through 4,500+ employer clients including Gap, General Mills, and Microsoft. Its Precision Mental Healthcare model uses machine learning to match employees to the right care modality, reducing time to first appointment from 25 days to under 2 days.

Transcarent achieved a $4.5B valuation in 2024 after raising $200M, positioning itself as a full-stack health OS for self-insured employers. It connects members to surgery centers at 40-60% cost savings, GLP-1 programs, cancer navigation, and mental health โ all through a single platform used by 50+ large employers covering 2M+ members.

Sword Health reached a $2B valuation and serves 3.5M+ members across 2,000+ employers with AI-powered physical therapy using wearable sensors and a digital care companion. Clinical trials show 74% of members achieve clinically meaningful outcomes versus 47% for traditional PT; Sword projects $150M+ ARR by 2024.

Omada Health raised $1.3B and has enrolled 600,000+ members in its digital chronic disease programs for type 2 diabetes prevention, hypertension, and musculoskeletal care. CMS approved Omada's diabetes prevention program for Medicare reimbursement in 2018 โ the first digital health program to achieve this milestone in the US.

Accolade generated $340M revenue in FY2023 providing health navigation and advocacy to 12M+ members at 700+ employer clients. Its personalized health assistant combines AI with licensed clinicians to guide members through complex care decisions, reducing unnecessary ER visits by 12% and saving employers $1,500+ per member annually.

Headspace Health, formed by the merger of Headspace and Ginger valuing the entity at $3B+, serves 100M+ registered users with meditation, mindfulness, and on-demand mental health coaching. Enterprise contracts with 3,500+ employers provide EAP-replacement mental health benefits to 2M+ covered employees.

Thirty Madison raised $280M in Series D funding and operates specialized telehealth brands including Nurx (women's health), Keeps (hair loss), Facet (skincare), and Evens (GI care). The multi-brand platform serves 1M+ patients; its condition-specific approach achieves 85%+ patient satisfaction versus 67% for general telehealth.

Calibrate raised $200M+ to build the leading GLP-1 metabolic health platform combining prescription weight loss medications with one-year behavioral coaching programs. Its outcome-based model showed 15%+ body weight reduction at 12 months across 20,000+ members; employer and health plan partnerships provide coverage for 5M+ potential members.
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Hims & Hers generated $872M revenue in 2023 growing 65% YoY, serving 1.5M+ subscribers with telehealth and personalized treatment for hair loss, ED, skincare, and mental health. Its GLP-1 weight loss program launched in 2023 drove a surge in new subscribers; the company reached positive adjusted EBITDA ahead of schedule.

Noom generated $400M+ revenue and serves 50M+ users globally with its psychology-based weight loss and diabetes prevention programs delivered via mobile app. Its coaching model combines AI with human psychologists; a 2020 NIH-funded study showed 78% of Noom users maintained clinically significant weight loss at 1 year.

Spring Health reached a $2.5B valuation in 2023 and covers 10M+ lives through 4,500+ employer clients including Gap, General Mills, and Microsoft. Its Precision Mental Healthcare model uses machine learning to match employees to the right care modality, reducing time to first appointment from 25 days to under 2 days.

Transcarent achieved a $4.5B valuation in 2024 after raising $200M, positioning itself as a full-stack health OS for self-insured employers. It connects members to surgery centers at 40-60% cost savings, GLP-1 programs, cancer navigation, and mental health โ all through a single platform used by 50+ large employers covering 2M+ members.

Sword Health reached a $2B valuation and serves 3.5M+ members across 2,000+ employers with AI-powered physical therapy using wearable sensors and a digital care companion. Clinical trials show 74% of members achieve clinically meaningful outcomes versus 47% for traditional PT; Sword projects $150M+ ARR by 2024.

Omada Health raised $1.3B and has enrolled 600,000+ members in its digital chronic disease programs for type 2 diabetes prevention, hypertension, and musculoskeletal care. CMS approved Omada's diabetes prevention program for Medicare reimbursement in 2018 โ the first digital health program to achieve this milestone in the US.

Accolade generated $340M revenue in FY2023 providing health navigation and advocacy to 12M+ members at 700+ employer clients. Its personalized health assistant combines AI with licensed clinicians to guide members through complex care decisions, reducing unnecessary ER visits by 12% and saving employers $1,500+ per member annually.

Headspace Health, formed by the merger of Headspace and Ginger valuing the entity at $3B+, serves 100M+ registered users with meditation, mindfulness, and on-demand mental health coaching. Enterprise contracts with 3,500+ employers provide EAP-replacement mental health benefits to 2M+ covered employees.

Thirty Madison raised $280M in Series D funding and operates specialized telehealth brands including Nurx (women's health), Keeps (hair loss), Facet (skincare), and Evens (GI care). The multi-brand platform serves 1M+ patients; its condition-specific approach achieves 85%+ patient satisfaction versus 67% for general telehealth.

Calibrate raised $200M+ to build the leading GLP-1 metabolic health platform combining prescription weight loss medications with one-year behavioral coaching programs. Its outcome-based model showed 15%+ body weight reduction at 12 months across 20,000+ members; employer and health plan partnerships provide coverage for 5M+ potential members.
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