Livongo raises $52.5 million to increase its digital well being platform for individuals with persistent circumstances
Picture Credit score: Paul Sawers / VentureBeat
Shopper digital well being firm Livongo has raised $52.5 million in a progress spherical of funding led by Common Catalyst and Kinnevik, with participation from Microsoft Ventures, EDBI, and American Funding Holdings.
Based in 2014, Livongo combines know-how and training to assist individuals handle diabetes, offering its members with real-time personalised information and assist to make diabetes administration simpler. For instance, the corporate makes just a little related meter that mechanically uploads blood glucose readings to the cloud, with Livongo capable of supply insights and training via the meter and related cell app to assist customers make enhancements.
Livongo doesn’t simply goal people, it additionally targets massive corporations and well being plans seeking to optimize their healthcare spending. The California-based startup has now raised a whopping $142 million since its inception, and says that its contemporary money inflow might be used to expedite its current diabetes administration instruments and increase to cowl further persistent circumstances. It additionally plans to increase internationally later in 2017.
“Our team is focused on empowering our members to live healthier lives, not just manage their chronic conditions,” stated Livongo CEO Glen Tullman. “That means we have to address all of their health issues in a comprehensive way. In addition to diabetes, we’re focused on extending our program to support other chronic conditions like hypertension and to continue to deliver an experience that our members love while improving clinical results and lowering costs.”
Digital well being startups have been sucking up traders’ money in latest instances. Again in August, on-demand healthcare concierge Accolade closed a $93.6 million round led by Andreessen Horowitz to assist employers reduce healthcare prices. And some months later Vida Well being raised $18 million to attach individuals with persistent illnesses to well being coaches. Devoted funding funds are additionally opening up, with Seattle’s Biomatics Capital Companions yesterday announcing the closure of its first fund at $200 million to spend money on early-stage well being startups.
“Livongo is one of the fastest growing companies in our portfolio and we are happy to double down to help the team expand their market leadership,” stated Hemant Taneja, managing director at Common Catalyst.
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