Using our headcount and valuation data, we analyze telehealth unicorns like Cerebral, Carbon Health, and Transcarent to see which ones have the highest valuation per employee.
In 2021 and 2022, telehealth companies saw their funding, headcounts, and valuations skyrocket.
For example, in January 2022, Transcarent raised at a $1.6B valuation — a 3.5x increase from its valuation just 7 months earlier. Additionally, leading companies like Signify Health went public at multi-billion dollar valuations.
Since then, however, some telehealth valuations have plummeted. Public companies like Amwell and Teladoc, which were worth $8.4B and $43.7B, respectively, in early 2021, have watched their market caps drop to $386M and $3.9B in August 2023.
As the telehealth market has slumped, more attention has been given to how companies are managing the size of their workforce. Looking at valuation per employee in particular can provide an indicator of a company’s overall efficiency.
Below, we use CB Insights digital health data to evaluate telehealth unicorns (private companies valued at $1B+) using this metric. We’ll examine:
- Top telehealth unicorns by valuation
- Most valuable telehealth unicorns ranked by headcount
- Most valuable telehealth unicorns ranked by valuation per employee
TOP TELEHEALTH unicorns BY VALUATION
Among telehealth unicorns, the most highly valued are:
- Cerebral ($4.8B)
- Carbon Health ($3B)
- Kindbody ($1.8B)
- Transcarent ($1.6B)
- Maven ($1.4B)
Cerebral operates in the behavioral health space, while Carbon Health, Kindbody, and Maven offer hybrid care services in the primary care, fertility care, and women’s health spaces, respectively. Transcarent provides a breadth of virtual care offerings — covering everything from urgent care to specialty needs to pharmacy services — centered around on-demand telehealth.
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