Extra Crunch Roundup: Digital Health, Edtech & Deep Tech News

My initial experience with a telehealth appointment occurred last year, and it’s highly likely many others have had a similar experience. Following the start of the pandemic, the number of consumers utilizing remote healthcare services has grown by 300%.

From my perspective as someone living in a city who has not been vaccinated: I would prefer to consult with a nurse or physician through my computer rather than risk close contact while traveling to and from their office by public transportation or ride-sharing services.

Even when conditions eventually stabilize (with a skeptical tone), I would still opt for receiving excellent healthcare within the comfort of my home, provided a dependable method exists.

It’s evident that I am not the only one who feels this way: a McKinsey report from May 2020 indicated that the annual domestic revenue from telehealth was $3 billion prior to the coronavirus outbreak, but projected that “as much as $250 billion of current U.S. healthcare expenditure could potentially shift to virtual care” once the pandemic subsides.

This is a remarkable figure, especially considering the diverse range of areas within this sector, including startups specializing in sexual wellness, women’s health, pediatric care, mental health support, data management, and diagnostic testing. As a result, funding for digital health companies exceeded $10 billion during the first nine months of 2020.

Based on information from The TechCrunch List, journalist Sarah Buhr spoke with eight venture capital investors actively involved in the health tech space to gain insights into the companies and industry segments attracting their attention in 2021:

• Bryan Roberts and Bob Kocher, partners at Venrock
• Nan Li, managing director at Obvious Ventures
• Elizabeth Yin, general partner at Hustle Fund
• Christina Farr, principal investor and health tech lead at OMERS Ventures
• Ursheet Parikh, partner at Mayfield Ventures
• Nnamdi Okike, co-founder and managing partner at 645 Ventures
• Emily Melton, founder and managing partner at Threshold Ventures

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The renewed attention on healthcare within Washington D.C. due to COVID-19 has led many investors to anticipate a supportive regulatory climate for telehealth in 2021. Furthermore, healthcare organizations are actively seeking strategies to decrease expenses and make behavioral healthcare more accessible to patients.

“The effectiveness of remote care is clear,” stated Elizabeth Yin, general partner at Hustle Fund.

We plan to provide more comprehensive coverage of digital health throughout the year, including additional surveys, focused reporting on specific areas, interviews with founders, and more.

Thank you for reading Extra Crunch this week; I wish you a peaceful weekend.

Walter Thompson
Senior Editor, TechCrunch
@yourprotagonist

Eight Venture Capital Firms Indicate: Behavioral Assistance and Virtual Consultations Position Digital Health for Success in 2021

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Insights from Top Hat’s Series of Acquisitions

Over the past twelve months, the educational technology company Top Hat has purchased three different publishing businesses: Fountainhead Press, Bludoor, and Nelson HigherEd.

Natasha Mascarenhas spoke with Chief Executive Officer and founder Mike Silagadze to gain a deeper understanding of the reasoning behind his approach to acquiring content, and her reporting also touched upon “emerging trends of industry combination and company sales within the edtech sector.”

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How VCs invested in Asia and Europe in 2020

Throughout the previous year, venture capital firms based in the United States allocated an average of $428 million daily to startups within the country, with a significant portion of these funds directed toward companies in the financial technology sector.

Earlier today, Alex Wilhelm analyzed the fourth quarter venture capital activity in Europe, noting that the region experienced its fewest number of transactions since the first quarter of 2019, even while securing a substantial $14.3 billion in investment.

The venture capital landscape in Asia, which witnessed $25.2 billion invested through 1,398 separate deals, is currently experiencing “a restrained resurgence,” according to Alex.

He summarizes the global venture capital trends of 2020 as characterized by “declining early-stage funding coupled with a high volume of larger investment rounds.”

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Decrypted: Further consequences from SolarWinds emerge as Biden assembles cybersecurity leadership

This week in Decrypted, our security journalist Zack Whittaker detailed the continuing developments in the SolarWinds espionage incident, which has now been confirmed to have affected the U.S. Bureau of Labor Statistics and Malwarebytes.

Additionally, the debate surrounding WhatsApp’s updated privacy guidelines seems to be prompting a shift of users toward the encrypted messaging application Signal, as Zack Whittaker noted. Facebook has reportedly paused implementing the changes to WhatsApp “while it determines a way to communicate the update without a substantial decline in its user base,” according to reports.

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Hot IPOs hang onto gains as investors keep betting on tech

Significant initial public offerings generate considerable news coverage for a short period, but the constant emergence of new, high-growth companies seeking to enter the public market limits opportunities for in-depth analysis.

Alex analyzed firms such as Lemonade, Airbnb, and Affirm to determine how successfully these recently public companies have maintained their initial valuation increases. He discovered that the majority have not only remained stable, but “a number of them have actually increased in value in the time following their IPOs.”

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Dear Sophie: What are Biden’s immigration changes?

Dear Sophie:

I am an HR professional at a technology company. I’ve heard that President Biden is announcing a revised immigration strategy today.

From your perspective, how might these changes affect immigration procedures for businesses, corporations, and startup founders seeking to come to the United States?

—Concerned in Fremont

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Greetings, Extra Crunch subscribers!

My journey began as a dedicated reader of TechCrunch, a habit I continued even after becoming a contributor, during periods working on other projects, and now with my return to concentrate on enhancing our service to you.

I’ve recently been speaking with several members of our community and would appreciate the opportunity to connect with you as well. This would be an informal conversation, requiring only about 5-10 minutes of your time, to understand your expectations and gather your thoughts on our recent efforts.

If you’re willing, please take a moment to complete this form. I will then reach out to schedule a discussion regarding the future direction of the Extra Crunch community, prior to the official launch of some of the concepts we are developing.

Drew Olanoff
@yoda

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In 2020, Venture Capital firms directed $428 million daily into U.S. startups

The previous year presented significant challenges globally, marked by a pandemic, economic instability, and considerable social and political disruption.

Despite these difficulties, those participating in private markets experienced notable benefits in 2020 – Venture Capital investments in U.S. startups reached a total of $156.2 billion, which translates to approximately $428 million invested each day, as noted by Alex Wilhelm.

This substantial investment was surpassed by the total value of liquidity generated by American startups, amounting to $290.1 billion.

Alex Wilhelm leveraged data from the National Venture Capital Association and PitchBook in a recent article to provide a summary of seed, early-stage, and late-stage funding rounds that occurred throughout the past year.

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How and when to build marketing teams at deep tech companies

Establishing a marketing team represents a significant challenge when launching a new business, but this is particularly true for companies focused on deep technology, where the potential impact of effective marketing is substantial.

What strategies can technically focused entrepreneurs, developing cutting-edge innovations, employ to identify and recruit individuals capable of effectively communicating their company’s narrative?

This article provides guidance for those working at, or familiar with, early-stage deep tech startups that are already generating revenue, detailing the optimal timing for team expansion, the importance of relevant industry background, and methods for identifying and assessing potential candidates.

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Bustle CEO Bryan Goldberg details his strategy for an initial public offering

Anthony Ha, a Senior Writer, recently spoke with Bryan Goldberg, the Chief Executive Officer of Bustle Digital Group, to discuss the current landscape of the digital media industry.

The discussion encompassed numerous topics, but the most significant revelation concerned Goldberg’s immediate objectives for the company’s future.

“My vision for the company within the next three years centers around achieving three key milestones: becoming a publicly traded company, generating substantial profits, and significantly expanding our size through continued acquisition and consolidation of other publications,” Goldberg stated.

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While direct-to-consumer gets the attention, beauty technology represents a substantial financial opportunity

The United States Federal Trade Commission has expressed reservations regarding consolidations between direct-to-consumer personal care companies and established consumer product corporations.

Recently, shaving company Billie and Proctor & Gamble mutually decided to terminate their intended merger following legal action initiated by the FTC.

Previously, Edgewell Personal Care abandoned its acquisition strategy for Harry’s, valued at $1.37 billion, due to comparable concerns.

Given increased regulatory scrutiny, achieving profitability is now a critical narrative for startups, shifting focus away from solely prioritizing rapid expansion.

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Twilio CEO believes developers hold the key to success

Jeff Lawson, CEO of Twilio, suggests that businesses creating their own internal tools are more likely to gain the loyalty and business of their customer base.

Lawson shared this perspective during a conversation with enterprise journalist Ron Miller, who was researching for his upcoming book, “Ask Your Developer.” He advises founders to consult with their development teams when deciding whether to create something internally or purchase an existing solution.

According to Ron, the central idea of Lawson’s book is that organizations should prioritize building solutions themselves whenever feasible.