Livongo Health said today that it raised nearly $45 million in a Series C round it plans to use to grow the footprint of its digital diabetes management program.
The Livongo program combines lifestyle coaching with a connected glucose meter, designed to automatically upload readings and provide real-time insights. It’s aimed at self-insured employers, payers and healthcare providers.
Livongo said the $44.5 million round included new investors Merck‘s (NYSE:MRK) Global Health Innovation Fund, Cowen Private Investments, Sapphire Ventures, Blue Cross Blue Shield of Massachusetts’ investment arm Zaffre Investments and Wanxiang America Corp. Existing backers General Catalyst, Kleiner Perkins Caufield & Byers, DFJ and 7wire Ventures also participated, the Mountain View, Calif.-based company said.
Livongo said it plans to use the cash to expand the diabetes program and to move into other chronic health markets.
“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,” CEO Glen Tullman said in prepared remarks. “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.”
“Livongo is leading a new wave of innovation focused on chronic disease management, beginning with diabetes,” added Zaffre Investments managing director Tuoyo Louis. “The company is unique in combining a consumer focus with broad healthcare and technology experience and has demonstrated measurable results in member satisfaction, clinical improvement, and cost savings based on client reported results.”
