Andressen Horowitz general partner Jorge Conde, who leads investments for the firm's bio fund, sees the coming class of digital health companies looking to go public as the second wave of digital health.
In the time since the initial wave of digital health companies, a lot more of the"connective tissue" in healthcare has been built for companies to exist on top of, he said. In part, that's because the nature of the companies has changed. For companies like Livongo or SmileDirectClub, software is just one component of the business.
"I think it's in part that you have models that have high consumer appetite and the ability to monetize well in a way that people hadn't approached before," Brown said.
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