Livongo Health, the US-based developer of an assistance platform for chronic health conditions, secured $105m yesterday that included software provider Microsoft, pharmaceutical firm Merck and health insurer Blue Cross Blue Shield of Massachusetts.
General Catalyst and Kinnevik co-led the round, which included DFJ, Kleiner Perkins Caufield & Byers (KPCB), Sapphire Ventures, 7wire Ventures and Echo Health Ventures, the fund formed by care provider Cambia Health and Blue Cross and Blue Shield of North Carolina.
The round valued Livongo at $800m according to the Wall Street Journal, and the corporates invested through their Merck Global Health Innovation Fund (GHI), Microsoft Ventures and Zaffre Investments subsidiaries respectively.
Founded in 2014, Livongo has created a data science-equipped platform that helps users cope with conditions such as diabetes and hypertension through a blend of consumer health technology, real-time support and coaching, and personalised recommendations for healthy living.
Echo Health’s investment was made in conjunction with a partnership agreement between Cambia Health and Livongo that will involve the companies jointly developing new products.
Glen Tullman, Livongo’s chief executive, said: “The Echo Health Ventures investment and the strategic relationship with Cambia Health Solutions further complements our work.
“The solutions we build with Cambia will reflect our shared perspective that we need to address the whole person comprehensively. This approach is gaining traction in the market, in large part based on our industry-leading member satisfaction, proven clinical and financial outcomes.”
Chris Bischoff, a senior investment director at Kinnevik, will join Livongo’s board of directors in connection with the round, which boosted the company’s overall funding to $222m.
Merck GHI, Zaffre Investments, General Catalyst, KPCB, Sapphire, DFJ and 7wire joined automotive components maker Wanxiang, Cowen Private Investments and Humana to invest $44.5m in Livongo’s 2016 series C round.
Livongo added $52.5m in a March 2017 round co-led by General Catalyst and Kinnevik and backed by Microsoft Ventures, the Singaporean state-owned EDBI, American Investment Holdings and all the company’s earlier investors.
– Image courtesy of Livongo Health.