Lark Health, a US-based disease prevention technology provider backed by electronics producer Omron, has completed a $55m series C round led by venture capital firm King River Capital.
Franklin Templeton, SteelSky Ventures, Olive Tree Capital, Lightspeed Ventures, Asset Management Ventures and private investors Jonathan Fielding and Weili Dai also contributed to the round, which was secured alongside a $15m debt facility from Trinity Capital and Bridge Bank.
Founded in 2010, Lark has created a digital platform that helps users manage and prevent chronic diseases such as diabetes through conversational artificial intelligence and cognitive behavioural therapy.
The series C proceeds will support the bolstering of the company’s partnerships with health insurance providers. It said it has now raised more than $100m in debt and equity financing altogether.
Lark secured $1m from Lightspeed Venture Partners, Tuesday Capital (then Crunchfund) and undisclosed angel investors in 2010, adding $3m in series A funding in June 2013 and $3.1m four months later, according to regulatory filings.
The company has not revealed details of its series B funding but Omron provided an undisclosed amount in 2017 through corporate venturing unit Omron Ventures. Its other investors include Asset Management Ventures, Pegasus Tech Ventures and Golden Seeds.
Julia Hu, Lark’s chief executive, said: “It is more important than ever before that millions of people at-risk of or managing chronic conditions have access to compassionate care at home, and we are excited to work with innovative commercial payers, telehealth providers and others to build the future for virtual care.”
