Health Report: 19 Startups Generating $106.9M in MRR

Puff Count: $44K in Monthly Revenue

Vaping usage reduction tracker

Puff Count is an app that helps users quit vaping which was created in 2019 by Steven Cravotta, who previously founded Wordle.

The platform allows people to monitor their daily vape usage and nicotine intake, recognise triggers that make them want to smoke, and then create a custom plan to help reduce this amount over time.

To date, more than 300,000 people have downloaded the app. It is free to use, but users can pay monthly or annually for additional options in the form of Puff Count Unlimited.

One of the main driving forces behind the app's popularity has been Steven’s marketing efforts on TikTok. He’s utilised another of his own brands - Posted App - which pits influencers against each other to create content around Puff Count. Only those with the most views are then paid for their efforts. This has resulted in some campaigns receiving over 180,000 views on the social media platform.

Steven shared that throughout 2024, the business's revenue has been fairly consistent at around $40,000 per month, with the app hitting $44,000 in monthly revenue in August 2024.

Rootd: $83K in Monthly Recurring Revenue

App providing immediate relief for anxiety and panic attacks

Rootd was founded on World Mental Health Day in 2017 by Ania Wysocka to provide anxiety and panic attack relief.

The app provides a convenient guided process for immediate management of these issues to offer relief as quickly as possible. Rootd also focuses on helping users permanently change their relationships with panic attacks and anxiety through long-term lessons.

The bootstrapped app has been used by more than two million people in over 150 countries, and has received over 35,000 reviews in the Apple and Google app stores. Many of them glowing.

The standard version is free to download, with the option to upgrade to the Premium version costing $9.99 per month, $79.99 for one-year access or $199 for a lifetime subscription. This provides customers with additional lessons, unlimited access to the Rootd tools and a dedicated support team.

It’s great to see such a supportive business model gaining the recognition it deserves, which has also enabled Rootd to grow to $83,000 in monthly recurring revenue. Ania revealed that the goal is to grow the number of users beyond ten million in the future.

Shimmer: $1M+ in Annual Revenue

ADHD one-to-one expert coaching

Shimmer provides a platform for personal ADHD coaching as an alternative to the traditional medication treatments available. The business was founded in 2021 by Christal Wang and Vikram Sreedhar before officially launching in October 2022.

The service offers one-to-one coaching with expert clinicians for people with ADHD. The platform also allows users to stay in regular touch with their coaches and provides tools resources to support customers to maintain habits and a number of other relevant resources.

Pricing for members begins at $140 per month which includes a 15-minute consultation each week. There is also the option of a 30-minute weekly meeting for $230 and a 45-minute consultation for $345 per month.

Within the first nine months of launching Shimmer had worked with over 1,200 customers, putting them in touch with more than 25 ADHD coaches. This allowed the business to surpass $1 million in annual recurring revenue within the first 12 months.

In January 2024 Shimmer announced that they’d raised $2.2 million in funding to continue their growth, taking the total amount of investment in the business to $3.7 million.

Scan.com: $2.7M in Annual Revenue

Medical imaging center sourcing

Scan.com is a diagnostic imaging platform that helps users find medical scanning services, like X-rays or MRIs, then compare prices and book an appointment.

Two of the founders, Dr Khalid Latief and Jasper Nissim, are clinicians. After noticing the difficulty of booking diagnostics for their patients, they launched their own company in 2017, together with Joe Daniels, Oliver Knight, and Charlie Bullock.

Scan.com was initially bootstrapped but the funding has since flowed. The company received £2M (~$2.55M) in 2021, £2.2M (~$2.8M) in 2022, then $12M in April 2023 and an additional $50M at the end of 2023. This brings the business’s total funding up to $67M.

The company declared its 2022 revenue at €2,608,573 (~$2.7M) and with the new funding, will be able to scale rapidly across the US and UK.

Manifest: $3.4M in Funding

Mental health support

Manifest is a digital mental health community that helps Gen Z users navigate personal development in their careers, romantic relationships, finances, and emotional worlds.

The founder, Amy Wu, started the business in 2023 as a sounding board to help people work through their challenges and decisions with the support of their peers.

Users can share their feelings and thoughts, be heard, and receive empathy and practical advice. At the same time, the AI analyzes emotional patterns, turning them into insights to help people grow. Challenges are gamified to maximize daily engagement, and the bite-sized approach and daily affirmations, with a focus on self-care, help motivate and inspire.

Manifest has raised a total of $3.4 million in funding and is using that to take advantage of the demand for its app and scale the business.

Canopie: $3.7M in Funding

Digital maternal health support

The Canopie program is designed to prevent mental health issues in expecting mothers. Founded by Ann Don Bosco and Anne Wanlund in 2021, the company supports pregnant women through screening, education, and access to mental health care.

Canopie works with organizations, healthcare providers, and insurance networks, saving money for everyone involved by detecting and addressing issues early.

The platform offers a range of services like individual behavioral health assessments, science-based therapeutic programs, and care management. This is all done using a combination of human interventions — with an emphasis on empathy and compassion — and digital solutions, including a personalized app.

Canopie will use the $3.7 in seed funding it received in September 2024 to focus on addressing social drivers of health in the US and expanding virtual mental health care.

Health In Her HUE: $4.2M in Funding

Health information platform

Health In Her Hue is a digital healthcare platform for women of colour which was founded by Ashlee Wisdom in 2018.

The website aims to provide specific healthcare advice and information covering a variety of topics, but all coming from lived experiences.

The platform connects their 13,000+ members with 1,300 culturally sensitive healthcare providers specialising in 60 different treatment areas.

Health In Her Hue also features ‘care squads’ which is a way for women to join discussions with others in a safe and shared space.

In January 2024 the business raised a $3 million seed round as it looked to expand its product and programme range. This is on top of the previous $1.2 million investment received.

JMIR Publications: $8.2M in Annual Revenue

eHealth publisher

JMIR Publications is a digital, open-access publishing platform that focuses on the intersection of health and technology. It publishes academic journals and other scientific communication products, including the Journal of Medical Internet Research, JMIR Mental Health, and JMIR Serious Games.

The business aims to disseminate ideas, protocols, and research results to as many people as possible to help them make informed decisions. It was founded in 1999 by Dr Gunther Eysenbach, who is the most cited academic in the field of medical informatics. He is currently the executive director and CEO of the company.

Under his leadership, JMIR’s revenue grew from $3.7M in 2018 to $8.2M in 2021/2022, with a three-year growth rate of 105%.

Peerlogic: $10.2M in Funding

Dental practice call performance service

Peerlogic is a software platform for dental businesses which was launched in 2020 by Alex Maskovyak and Ryan Miller.

The conversational AI technology helps to improve front office efficiency by providing real-time call tracking and call performance metrics to reduce call times and increase appointment bookings and revenue.

Peerlogic can offer feedback on things like wait times, conversation length and even call enthusiasm, which can all be used for future coaching and highlighting opportunities to grow.

The business announced in January 2024 that they’d received over $5.6 million in funding to continue their growth. This takes the total amount of investment received to $10.2 million.

Peerlogic is now used by more than 1,000 dental offices in the United States, and whilst no revenue figures were disclosed, the business recorded growth of 1,200% between 2022 and 2023.

Heights: $10.6M in Annual Revenue

Science-led supplements

Heights creates and provides supplements for a healthier body and mind to users in a responsible way. The business was founded in 2020 by Dan Murray-Serter and Joel Freeman.

Heights has created science-led Vitals+ which is an all-in-one multivitamin designed to feed your brain and fuel your body. A 30-day subscription for this costs $55. In addition, Biotic+ provides immunity for the gut and mind and costs $56.25 per month. There is also an option to purchase both of these supplements as a bundle for $86 per month.

To date, the business has provided these vegan-friendly and responsibly sourced supplements to 66,000 customers and currently has 25,000 monthly subscribers. This has led to Heights achieving $10.69 million in annual recurring revenue for 2023.

Qure AI: $16.7M in Annual Revenue

AI assistance for healthcare professionals

Founded in 2016 by Dr Pooja Rao and Prashant Warier, Qure AI is an AI-driven global healthcare company. It offers solutions that make healthcare more accessible and equitable. For example, it helps doctors and radiologists diagnose critical illnesses like stroke, lung cancer, and tuberculosis.

The company is now the most deployed healthcare AI solution in the world, operating in more than 3,100 sites across over 90 countries.

Qure AI’s revenue has grown by 83%, from Rs 77 crore (~$9.1M) in 2023 to Rs 141 crore (~$16.7M) for the 2024 financial year. In October 2024, the business also received $65M in additional funding, bringing its total investment to date to $125M. This will help to further develop its technology, acquire complementary companies, and expand into new geographical areas.

Amy Myers MD: $31.8M in Annual Revenue

Autoimmunity health solutions

Amy Myers MD is a health and wellness brand which was founded by functional medicine practitioner Dr Amy Myers.

While still in medical school, Dr Myers was diagnosed with an autoimmune thyroid condition known as Graves' disease. After conventional medicine failed to help her, she developed her own path to healing and now shares it with others looking for an alternative approach. Her mission is to help people get to the root cause of their issues, empowering them to manage their own health.

The business offers pharmaceutical-grade nutritional supplements — many personally formulated by Dr Myers — as well as clean beauty products, several health programs, and Dr Myers’ bestselling books.

Amy Myers’ is one of America’s fastest-growing companies, with annual revenue increasing from $12.1M in 2018/19 to $24.1M in 2020/21 and $31.8M in 2021/22.

Momentous: $40M in Annual Revenue

Sports Nutrition Company

Momentous sells science-backed supplements and sports nutrition to optimize the performance and lifestyles of mission-driven athletes.

Originally the brainchild of high-school athlete Matt Wan, Momentous was launched in 2016 by Wan and Rob Dyrdek, a media and marketing expert. In 2021, it merged with Amp Human, founded by former NFL player, Jeff Byers, and his business partner, Erica Good.

Since the merger, growth has indeed been momentous, with a three-year revenue increase of 1,258%. The business currently partners with over 175 professional and collegiate sports teams, including many NFL teams.

In September 2022, the company received $6.5M in funding to develop its technology and launch new products. Then in February 2024, Humble Growth invested an additional $32M.

Momentous profited from nearly $40M in sales in the last financial year, more than triple their figure from just two years prior. The business expects to exceed $70M in annual revenue in 2024.

Thatch: $44M in Funding

Health Benefits Platform

Thatch is a healthcare platform designed to separate health insurance from employment. Founded in October 2021 by Chris Ellis and Adam Stevenson, its premise is simple.

Employers set a budget on the platform and staff members can personalise their healthcare coverage to best suit their needs. This saves employers time and money usually spent managing group healthcare plans and puts more choices in the hands of consumers.

The solution works with all insurance plans and payroll providers. It’s currently used by hundreds of small and large US companies, including the Thatch team and Ellis’ pregnant wife.

The company began with initial funding of $6 million and in September 2024, received an infusion of $38 million in Series A funding. This will be used to help Thatch scale to provide their services to millions more companies.

Nabla: $44.7M in Funding

AI support for medical staff

Nabla operates as an AI assistance service for medical staff which was founded by Alexandre Lebrun, Delphine Groll and Martin Raison in 2018.

The copilot platform can automatically create clinical notes from any patient encounter whether in person or via a video call, before updating medical records. This essentially saves time for doctors and other medical professionals by generating accurate notes for patients.

There is a free pricing tier which can be used for up to 30 consultations per month, and a Pro version priced at $119 per month, which allows unlimited consultations to be recorded.

In January 2024 Nabla Copilot announced that they’d raised $24 million in funding as they look to continue the business' growth. This takes the total amount of investment into the service to $44.7 million.

Air Doctor: $50M in Funding

Global medical network

Air Doctor helps travelers find private doctors in more than 84 countries for in-person or remote consultations. It considers the traveler's language and insurance coverage and even manages reimbursement payments between doctors and insurance companies.

The business was founded in 2016 by a self-described “nomad”, Jenny Cohen Derfler, and her son, Yam Derfler. Yam fell ill while traveling and, not knowing how to find a doctor, ended up at the local hospital — which turned out to be a challenging experience. The two set up the company to help others in the same predicament avoid the stress Yam went through.

Air Doctor now has contracts with 18 major health insurance providers and works with 20,000 doctors. It has raised a total of $50 million, including the recent addition of $20 million in Series B funding in October 2024.

Talkspace: Q3 2024 Revenue of $47M

Online Therapy Platform

Talkspace offers support from licensed therapists for adults and teens, as well as specialized therapy for couples, veterans, and those in the LGBTQIA+ community. The business was founded in 2012 by husband and wife team, Oren and Roni Frank.

The company matches clients with therapists and if they need further support, they’ll also connect them to a psychiatrist to evaluate their needs, prescribe medication if necessary, and provide ongoing care.

Since launching, the brand has experienced significant growth and is now has more than a million users and is in-network with most major insurance plans.

In 2023, their revenue reached $150M, a 25% increase on the prior year. Gross profit also increased by 23% over the prior year to $74.4M. 2024 is proving equally profitable with Q3 revenue increasing a further 23% over the prior-year period to $47.4M.

Weave: Q3 2024 Revenue $52.4M

Communication tools for healthcare providers

Weave is an all-in-one customer experience solution for healthcare practices. The AI-driven platform integrates a communication system with patient records, dental software, and a payment portal. It’s designed to streamline customer journeys, increasing efficiency and revenue across the board.

The company, originally known as Recall Solutions, was started in September 2008 by Brandon Rodman. It operated a call center to remind patients of their dental appointments (in his youth, Rodman had aspired to become a dentist). As the business grew, he recruited his brother Jared, who became a co-founder. Weave now works with many small businesses and is a publicly traded company.

In 2023, Weave’s revenue was $170.5M, a year-over-year increase of 19.9%. That growth has continued in 2024, with Q3 revenue increasing by 20.3% YoY to $52.4M.

GoodRX: Q3 2024 Revenue of $195M

Prescription drug price comparisons

GoodRx is a US-based prescription savings program that allows over 25 million consumers to buy brand-name and generic medication at reduced prices. It offers discounts, price comparison tools, healthcare education, and telehealth services through its digital platform.

The business was co-founded in 2011 by Doug Hirsch and Trevor Bezdek after they struggled to make sense of the US prescription drug process themselves. The company’s goal is to help Americans access convenient and affordable healthcare.

After more than a decade as co-CEOs, Hirsch and Bezdek transitioned into the Chief Mission Officer and Chairman Roles in 2023, while Scott Wagner, previously CEO at GoDaddy, stepped in as interim CEO.

GoodRx’s adjusted revenue in 2023 was $760.3M. Its performance has strengthened slightly in 2024, with Q3 revenue of $195.3M compared to an adjusted $190M during Q3 in 2023.