Livongo’s momentum just keeps growing.
The consumer digital health company founded by Chicago entrepreneur Glen Tullman announced on Thursday that it has raised a $52.5 million round of funding. The funding will be used to accelerate the company’s growth in the diabetes management space, expand its solution to cover other chronic conditions and to move into international markets this year.
Existing investor General Catalyst co-led the round with international investment company Kinnevik.
“Livongo is one of the fastest growing companies in our portfolio and we are happy to double down to help the team expand their market leadership,” said General Catalyst managing director Hemant Taneja in a statement. “Additionally, we are excited to see Livongo expand their service to offer comprehensive support for their members’ chronic needs beyond diabetes.”
Founded in 2014, Livongo said it is already seeing significant improvements in health outcomes for users of its cloud-connected diabetes management device. The company said users of the device, which offers coaching to help patients keep the disease in check, spend more time within healthy measurement levels.
The company’s initial expansion efforts will focus on helping current users who have other conditions in addition to diabetes. In Thursday’s press release, Livongo points to high blood pressure and high cholesterol, both of which are highly correlated with diabetes, as examples of opportunities for expansion.
“Our team is focused on empowering our members to live healthier lives, not just manage their chronic conditions. That means we have to address all of their health issues in a comprehensive way,” said Tullman in a statement. “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 personalize the experience our members have.”
Although headquartered in Mountain View, CA, Livongo also has a presence in Chicago, where Tullman is based. The company has raised $130 million to date, most recently in the form of a $44.5 million Series C in April 2016.
Microsoft Ventures, EDBI and American Investment Holdings LLC also participated in Thursday’s round, as did all of the company’s previous investors.
Images via Livongo.
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