Livongo Health Raises $105 Million
MOUNTAIN VIEW, Calif., April 11, 2018 /PRNewswire/ -- Livongo Health, the leading consumer digital health company empowering people with chronic conditions to live better and healthier lives, announced a $105 million funding round led by existing investors General Catalyst and international investment company Kinnevik. Existing investors DFJ, Kleiner Perkins Caufield & Byers , Merck Global Health Innovation Fund, Microsoft Ventures, Sapphire Ventures, Zaffre Investments, and 7wire Ventures participated in the round along with new investor Echo Health Ventures.
"We are particularly pleased with the strong vote of confidence from the marketplace for Livongo," said Glen Tullman, Chief Executive Officer of Livongo. "With a blue-chip client base including more than 350 of the country's largest self-insured employers, the most innovative health systems and health plans, and the two largest pharmacy benefit managers combined with the leading investors in healthcare, we are positioned to significantly accelerate our growth."
Tullman continued, "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 satisfaction1, proven clinical2 and financial3 outcomes."
Proceeds from the offering will support rapid market growth, continued investment in data science, deeper integration with clients and partners, and the development of Livongo's comprehensive consumer platform based on the company's 'whole person' approach. The 'whole person' approach is focused on empowering people with solutions based on human-centered design principles that address members unique physical, social and emotional needs and which incorporate advanced data science techniques to create personalized member experiences.
"Livongo has become the market leader by providing a delightful, evidence-based approach for improving quality of life for consumers with diabetes," said Hemant Taneja, Managing Director at General Catalyst. "With the launch of its new hypertension offering, the company is quickly becoming a platform that delivers comprehensive care for consumers with multiple chronic conditions."
The company also announced a strategic partnership with Oregon-based Cambia Health Solutions to improve the health of its members, beginning with diabetes. Livongo and Cambia will also co-develop and market new offerings. Cambia reaches more than 70 million Americans nationwide, including more than two million people in the Pacific Northwest who are enrolled in regional health plans in Washington, Oregon, Idaho, and Utah.
Chris Bischoff, Senior Investment Director for Kinnevik, who is joining Livongo's Board of Directors, commented, "The strategic relationship announced with Cambia today is indicative of the type of partnership Livongo attracts - defining of a new era in health. We are delighted to expand our investment in Livongo. We believe they are on track to be the global leader in delivering real behavioral insights and science that enable people to truly live in healthier ways."
About Livongo Health
Livongo empowers people with chronic conditions to live better and healthier lives. We reduce the daily burdens of people living with chronic conditions, starting with diabetes and hypertension, by driving behavior change through the combination of consumer health technology, personalized recommendations, and real-time support at the point of impact. Powered by advanced data science, we create personalized experiences for our members, so they receive the right information, tools, and support, at the right time. Our approach is leading to better financial and clinical outcomes while creating a better experience for all people with chronic conditions and their care team of family, friends, and medical professionals.
Livongo's current offerings include Livongo for Diabetes and Livongo for Hypertension. Eligible members of the Livongo for Diabetes program will have access to the Livongo for Hypertension program. In addition, Livongo will offer a stand-alone hypertension solution to new members. By addressing multiple chronic conditions on one platform using reinforcement learning, Livongo can better understand the personal health narrative of each member and offer real-time recommendations that are tailored to each person's unique health experience. For more information visit: www.livongo.com.
1 Livongo NPS from Member Satisfaction Survey, December 31, 2017
2 Downing J, Bollyky J, Schneider J. Use of a Connected Glucose Meter and Certified Diabetes Educator Coaching to Decrease the Likelihood of Abnormal Blood Glucose Excursions: The Livongo for Diabetes Program 8 J Med Internet Res 2017;19(7):e234, DOI: 10.2196/jmir.6659
3 Presentation at the 77th Annual American Diabetes Association's Scientific Sessions
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SOURCE Livongo Health