Livongo Health Secures $44.5M Series C Round
MOUNTAIN VIEW, CA, Livongo Health, the leading consumer digital health company focused on chronic conditions, announced the completion of a $44.5 million Series C financing round.
The new funding round includes Merck Global Health Innovation Fund; Cowen Private Investments; Sapphire Ventures; Zaffre Investments, the investment arm of Blue Cross Blue Shield of Massachusetts; Wanxiang America Corporation; and others as well as existing investors General Catalyst, Kleiner Perkins Caufield & Byers (KPCB), DFJ, and 7wire Ventures.
In recent months, Livongo Health's growth trajectory increased significantly, driven by rapid adoption of its diabetes management solution among the country's largest self-insured employers, payers, and healthcare providers seeking a better approach to diabetes management. The new funds will be used to support that growth, accelerate the launch of new products and services, and to expand into new market segments.
'Livongo is leading a new wave of innovation focused on chronic disease management, beginning with diabetes,' said Tuoyo Louis, Managing Director of Zaffre Investments, a wholly-owned subsidiary of Blue Cross Blue Shield of Massachusetts committed to investing in new solutions to improve healthcare. 'The company is unique in combining a consumer focus with broad healthcare and technology experience and has demonstrated measureable results in member satisfaction, clinical improvement, and cost savings based on client reported results.'
Livongo is not only seeing rapid growth in new customers but also national expansions with existing clients like industry innovation leader Lowe's. The FORTUNE 50 home improvement company initially deployed Livongo Health's innovative solution to a group of employees and their family members diagnosed with diabetes in Lowe's North Carolina, South Carolina, and Alabama markets last September. Based on strong early results, Lowe's expanded access to Livongo for Diabetes in March to employees and dependents nationwide.
'We are excited by the demand for our solution, which combines the latest technology, data science, and coaching to empower people with diabetes to live a better life,' said Glen Tullman, Chief Executive Officer of Livongo Health. 'The most important challenge to address in healthcare today is how we manage chronic disease, and the status quo simply isn't working. Livongo Health's platform delivers real-time, personalized support in context, when and where it's needed.'
In 2014, Livongo Health set out to reinvent care management and empower people living with diabetes by combining technology and coaching in a streamlined, consumer-directed experience. The result was a robust program featuring a cellular, two-way interactive glucose meter that transmits data and messaging real-time, a smart cloud that provides personalized analytics and insights, and a human touch from certified diabetes educators linked to the patient's care team including family, friends, and medical professionals.
About Livongo Health
Livongo Health is reinventing the way people manage chronic conditions, beginning with diabetes. We are focused on improving the experience for people with diabetes, the people who care for them (family, friends, physicians), and the people who pay for their care. By offering the right information, tools, and support at the right time, we empower people with diabetes to live better and improve their health while reducing the cost of care. For more information visit: www.livongo.com.
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