US-based digital health technology developer Livongo Health secured $52.5m yesterday in a funding round featuring software producer Microsoft’s corporate venturing unit, Microsoft Ventures.
Venture capital firm General Catalyst and investment firm Kinnevik co-led the round, which included Singaporean government-owned investment fund EDBI, American Investment Holdings and all Livongo’s existing investors.
Livongo is developing digital technology that will help patients manage chronic conditions more easily and efficiently. It is initially focusing on diabetes, providing a mix of information, tools and support in the form of technology and coaching.
The round will be used to expand the company’s diabetes management offering and introduce technologies for other chronic conditions while it prepares to expand geographically. It increased Livongo’s overall funding to $117m since 2014.
Glen Tullman, Livongo’s CEO, said: “In addition to diabetes, we are 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.
“This new funding will accelerate our investments in R&D and expansion of our rules engine from 10,000 to more than 100,000 rules, allowing us to completely personalise the experience our members have.”
Livongo raised $44.5m in an April 2016 series C round backed by auto parts supplier Wanxiang, pharmaceutical company Merck’s Global Health Innovation Fund and health insurance provider Blue Cross Blue Shield of Massachusetts’ Zaffre Investments fund.
Earlier backers General Catalyst, Kleiner Perkins Caufield & Byers and DFJ also invested in the 2016 round, together with Sapphire Ventures, Cowen Private Investments, 7wire Ventures, Humana and unnamed additional investors.
– Image courtesy of Livongo Health