Digital health company Livongo raises $44m for diabetes management
Digital health company Livongo has raised $44.5 million through series C financing with the hopes to expand its products portfolio.
The California-based company recently saw a huge leap in its predicted growth trajectory with the widespread adoption of its diabetes management solution across a number of different healthcare providers, self-insured employers and payers.
The device itself measures blood glucose levels of the user and uploads it in real time to a cloud platform that can be accessed via computer or mobile app. The platform also gives users access to professionals if they have any questions about their readings.
“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,” said Glen Tullman, Livongo Health CEO. “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.”
Tuoyo Louis, Managing Director of Zaffre Investments, also expressed his excitement for the investment, referencing Livongo as a leader in “a new wave of innovation focused on chronic disease management.”
“The company is unique in combining a consumer focus with broad healthcare and technology experience and has demonstrated measureable results in member satisfaction, clinical improvement, and cost savings based on client reported results.”
The new funding, provided by a number of different companies – most notably new investors Merck Global Health Innovation Fund and Zaffre Investments – will now be used to expand not only the company’s product range but also its markets.
Tullman has already expressed the company’s interest in developing an updated version of its diabetes solution which it hopes to be available in the next 2 or 3 months, as well as the intent to move into co-morbidities such as hypertension or obesity.
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