October 30, 2025

Health is wealth

Hi there,

Here is this week's Hot or Not.

Hot: Digital Health 50

CB Insights just launched the 7th annual Digital Health 50 — our data-driven list of the world's highest potential private companies in digital health.

We analyzed over 12K digital health companies using CB Insights' predictive signals to curate a list of 50 winners across clinical intelligence, revenue cycle management, patient communication, and more.

See the full Digital Health 50 list and explore what's driving innovation in 2025.

Not: AI headcounts

AI companies are commanding valuations of up to ~$100M per employee in Q3’25.

Figure leads at $104M per employee on a $39B valuation despite zero revenue last year. 

Others topping the quarter’s valuation-per-employee list span the AI model, infrastructure, and application layers. 

Learn more in our State of AI Q3’25 report.

Hot: AI software development

AI-powered coding has become one of the fastest-growing enterprise use cases for LLMs. Satya Nadella says that as much as 30% of Microsoft’s code is now written by AI.

As agentic AI transforms software development, tools that deliver shipping speed, cost certainty, and de-risk AI outputs will separate sustainable enterprise adoption from expensive experiments.

Get a peek into the 90+ startups redefining software development in CB Insights' AI software development market map.

Not: Digital health mega-rounds

Mega-rounds ($100M+) made up just 34% of total digital health funding, down sharply from 47% in Q2’25. 

The 9 mega-rounds this quarter totaled $1.5B, compared to 10 deals worth $2.5B in the previous quarter.

Top deals this quarter included:

• Value-based kidney care platform Strive Health ($300M Series D) 
• Clinical workflow tools Ambience ($243M Series C) and OpenEvidence ($210M Series D).

See the full breakdown of digital health funding trends in our State of Digital Health Q3’25 report. 

The +1

Source: u/Mister__Magoo via Reddit

No place like home. Visual hierarchy where? 

I love you.

Anand

@asanwal 

Co-Founder & Exec Chair

P.S. Want to learn even more about this year’s Digital Health 50 winners? Check out our Book of Scouting Reports here. 

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